A loan product jointly designed by LAPO Microfinance Bank and NEDOGHAMA Inc. to promote the income generating activities of the low income “Bini” natives. This product can be accessed by a client who is a member of a group (Union).Nedoghama loan was designed for the Bini speaking group of Edo State with priority to be given to women. The Product is funded by a non-profit organization to empower Bini indigenes in Edo state.
- Facility range: N20,000 (minimum) to N80,000 (maximum)
- Methodology: Group
- Duration: 6 months
- Grace period: 1 month
- No collateral
- Access to funds for business expansion
- Flexible repayment structure
- Very low interest rate
- Duly completed application form
- 2 guarantors
- 4 recent passport-size photographs
- Current utility bill
- A valid means of ID (national ID, driver’s license, voter's card or international passport)
1. Q: Can I access this loan if I am not a Bini indigene?
A: No. The loan is restricted to low income "Bini” natives.
2. Q: Do I need to provide any document to prove that I am an indigene of Bini?
3. Q: Can I access Nedoghama loan outside Benin City?
A: No. This loan can only be accessed in Benin City, Edo State.