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Getting business loans from banks Wema Bank (4)

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By Yinka Kolawole

We have had repetitions of the previous content on the aspect of this column dealing with requirements for the various packages under the Wema Bank credit facility for small businesses. Maybe, aside the over flogging, it must have settled in the mind of any interested individual to put action behind the information regardless of the seeming steep requirements.


We had noted then that a few small business owners would be challenged by the cash requirements, but the Bank, knowing what it wants, have also put some good benefits behind the requirements.


When eventually you summon courage to act on the requirements be focused also on these benefits as the reward for your efforts while you work with the bank to perfect whatever is missing in this write-up which you need to also do or benefit.

The first benefit is access to the Wema Bank SME financing package for working capital. Here you are provided with a category of a loan package to enable your business meet some critical funding.

In addition your business will have access to mobile banking and corporate internet banking platforms of the Bank free of charge.

You will also be given free access to select business forum organised by Wema Bank to equip SMEs entrepreneurs and assist their businesses in many other ways.

Very importantly, your business account with the Bank will run on affordable monthly charges, and the Bank would offer you a low account opening and minimum operating balances.

Moreover, there will be an automatic COT concession rate for turnover volume on your account above specified limit.

Next week we begin the second part of this series which deals with specific loan packages for small businesses in Wema Bank.

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