Will the school be required to use its property as collateral for this loan?
No, the loan is given against domiciliation of school fees.
Can this facility be used to construct school buildings?
The facility is a short-term facility designed to finance working capital needs of schools. There is a product (Commercial Mortgage) available for schools who want to construct school buildings.
What amount can a school get from the bank under this product?
A school may obtain up to N10 million maximum.
When can a school apply for this facility?
This facility is available to schools all through the year.