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: 3.5% flat monthly
Upfront Fee: 1.5% flat
Loan Assurance: 1.25% of loan amount
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: 3.5% 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
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
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.
