The financial freedom having a personal business affords one is intangible. Being the boss of one’s own self gives you a sense of security and peace, but of course, only when your business is in a thriving mode.

Managing and funding a business can be very challenging. Loans are increasingly hard to acquire with the ever rising required personal and business documentation. Financial institutions set up bureaucracies that are nearly insurmountable for the loan acquisition process. Some institutions have rigid requirements such as obtaining guarantors with current accounts, collaterals, tax documentations, utility bills, business registration documents and even an account balance of a fixed percentage of the loan amount. High-quality lenders will often require a debt-to-income ratio of 36% or less.

Loans have become fundamental boosters for businesses and the difficulty in acquiring them makes WEMA Bank’s instant loan the best option for your business. The loan is targeted at providing for you without the paperwork hassle attached to instant loans.

What is the WEMA Instant Loan?

WEMA Bank Instant Loan is a loan system that operates with absolutely no collateral requirement and a very low interest rate. This loan can be applied for without paperwork or the need to visit any physical location. You can get up to N2,000,000 via this loan application and it’s quite unbelievable that to acquire a loan with such a huge sum, the processing time is in mere minutes. Your credit worthiness is assessed through the information you enter during the application process. This loan can be processed with a computer or a smartphone from the comfort of your home.

This loan has been structured to help you with easy debt repayment. For instance, salary earners can get a loan minimum of N50,000 and a maximum of N4,000,000 which has to be related within 3 – 24 months. The interest on this specific loan is 2% per month on a reducing balance basis.

Once the due date is up for the loan, you will be given a notification and then, an automatic deduction is made from your account. You also have the choice of repaying the loan before the due date through the Bills Payment option available on the app.

Why do you need an instant loan from WEMA Bank?

Businesses take out loans for many purposes. A loan can be taken to maintain the business, to bring innovations into it, to make processes faster with technological know-how, to expand the business etc. The truth is there are many financial and non-financial institutions willing to lend you money at various rates but none is as hassle free as WEMA Bank SME loan.  Here are a few reasons why you should consider taking a business loan from Wema Bank:

Reasons to consider taking business loan from WEMA Bank

1.    To Launch Your Business.

Imagine plans without a means of achieving them. Ideas have lives of their own, they jump from person to person, looking for who is able to achieve them. They stay with you for a while and then move onto the next capable person. That is exactly why you see an empire successfully executing a business plan you had years ago. They are only succeeding at it because they had the means to execute it. Money is your means of execution.

2.    To Expand Your Business

Every business with a vision knows that expansion is the key to competing world class. Taking out a loan to build branches in other economically viable locations and for the empowerment of workers with knowledge and technical know-how are ways of building the capacity of your business. Even if you are the sole runner of your business, taking out money to enable you to acquire more knowledge to develop your business can never be a waste. People tend to categorise this as unnecessary expenses when it is the actual pillar to having a sustainable business. Being left behind, doing the same thing, the same way would only lead to the decay of your business. Take out a loan to build branches, take paid economic surveys, advertise and research.

3.    To Increase Your Business working Capital

Your business’ working capital is the money you use for the day to day running of your business. In most cases, your starting capital is simply not enough to maintain your business and subsequent income is usually not enough either. Taking out a loan can help increase your limited business plan. With more capital, you open your business up to more plans, goals and achievements.

ALSO READ: Get A Loan In Minutes: 8 Best Loan Apps In Nigeria

 How to take advantage of WEMA Bank Instant Loan.

1.   Step one: Open a WEMA Bank Account

All you need to do is have a Wema Bank account. With the account, you are eligible to register on the ALAT banking app.

2.   Sign up on the ALAT app

If you already have an account with ALAT, once signed in, click on the menu button and click on ‘Loans’.

Ensure you read through the disclaimer!

3.   Go through the Credit Evaluation Process

Next, you will be taken through the credit evaluation process. For instance you will be asked the amount being applied for, how much you earn and such. This process is to ensure you are creditworthy. Our system carries out a quick evaluation that enables them to give you the suitable loan amount. A loan offer is then made to you, showing how much you are eligible to borrow from the bank.

4.   Read through the terms and conditions

This is one step many people tend to skip. You are advised to then go through the presented terms and conditions. One of these conditions include authorising the bank to deduct the loan amount from your bank account once the loan’s due date  is up. You will also have to provide your credit card details as part of the process.

Taking out a loan is a means of using resources to manifest greater resources. You can dream even bigger than the limit your finances have placed on you.

Take a step in the right direction and take an instant loan for your business from WEMA Bank today.