Loans

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Bosak Trade Loan (BTL)

Bosak Trade Loan is a convenient product offered by Bosak Microfinance Bank to
Traders and Artisans to purchase stock and expand their business.

Group Membership: Minimum of 7 members per group

Loan Limit: Loan amount of up to ₦500,000.00

Duration (Tenor): 24 weeks (6 months)

Repayment: Weekly repayment within 24 weeks with 1 week moratorium

Pricing:

Interest Rate: 3.0% flat monthly

Upfront Fee: 1.5% flat

Loan Assurance: 1.25% of loan amount

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Bosak Auto-Technician Support Loan (BATSL)

Are you an Auto-Technician (Mechanic)? You can access up to ₦500,000.00 working
capital to expand your business and acquire modern auto-repair equipment.

Group Membership: Minimum of 7 members per group

Loan Limit: Loan amount of up to ₦500,000.00

Duration (Tenor): 24 weeks

Repayment: Weekly repayment within 24 weeks with 1 week moratorium

Pricing:

Interest Rate: 3.0% flat monthly

Upfront Fee: 1.5% flat

Loan Assurance: 1.25% of loan amount

Bosak Education Loan (BEL)

Bosak Education Loan (BEL) is a loyalty loan product designed to assist customers offset their child (ren)/ward school bills – primary, secondary or tertiary – without depleting their working
capital.

Loan Limit: ₦250,000.00 or 50% of current BTL amount (whichever is lesser)

Duration (Tenor): 4 months

Repayment: Monthly repayment

Pricing:

Interest Rate: 1.5% flat monthly

Management Fee: 0.5% flat

Loan Assurance: 1.25% of loan amount

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Bosak Asset Finance Loan (BAFL)

Bosak Asset Finance Loan is a loyalty loan product designed to enable small business owners acquire tangible business assets that will boost their income generating
capacity.

Loan Limit: ₦200,000.00 or 140% of current BTL amount (whichever is lesser)

Duration (Tenor): 12 months

Repayment: Monthly repayment

Warranty: Assets are purchased from verified merchants to ensure valid warranty

Pricing:

Interest Rate: 1.5% flat monthly

Management Fee: 0.5% flat

Loan Assurance: 1.25% of loan amount

Bosak Trade Support Loan (BTSL)

Bosak Trade Loan avails a larger working capital to long-standing clients with good
credit record to boost their income generating capacity.

Loan Limit: ₦200,000.00

Duration (Tenor): 9 months

Repayment: Monthly repayment

Pricing:

Interest Rate: 2% flat monthly

Management Fee: 0.5% flat

Loan Assurance: 1.25% of loan amount

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Bosak Mid-Term Loan (BMTL)

Bosak Mid-Term Loan addresses the needs of BTL clients who mid-way into their loan, have real need to restock their shops and boost sales.

Loan Limit: ₦250,000.00 or 50% of current BTL amount (whichever is lesser)

Duration (Tenor): 24 weeks (6 months)

Repayment: Weekly repayment within 24 weeks with 1 week moratorium

Pricing:

Interest Rate: 2.5% flat monthly

Upfront Fee: 1.5% flat

Loan Assurance: There is no loan assurance charge

Equity: There is no equity charge

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