Frequently Asked Questions
- 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.