LOANS

BORROWING PRODUCTS:
We offer a wide range of borrowing products designed specifically to our customers’ financial needs and individual lifestyle. Specifically on our borrowing products are

 

• Madelyn Business Loan (M Business):

Madelyn Business loan is a working capital loan designed for small scale businesses that desire to borrow for business purposes but lack conventional collateral to secure their loans.
Features:

• Access to loans adequate to your business needs and  capacity
• Opportunity to access more funds in the future
• Flexible collateral requirements
• Competitive interest rates
• Flexible and affordable repayments structure
• Business must have been in operations for a reasonable period

2. Madelyn Personal Loan (M personal):
With Madelyn personal loan, you will have access to funds to meet your personal financial needs. It is a short to medium term loan specifically for individuals employed by credible organizations and Sole Proprietors with verifiable, sustained and guaranteed cash flow. The facility assists you pay for both planned expenses and unplanned expenses.

 

3. Madelyn Salary Advance (M Salary):
Madelyn Salary Advance is designed for staff of credible organizations whose salary accounts are domiciled with Madelyn Bank, and are faced with unexpected and unplanned expenditure that cannot wait till the pay day. It enables the staff to have access to quick fund to take care of emergencies by overdrawing his/her account pending the receipt of salary.

 

4. Madelyn Micro Lease (M Micro Lease):
With Madelyn Micro Lease, small and medium businesses, individuals, workers in paid employment and as well as reputable consulting firms (Audit, Accounting, Tax, Law, Clinic, Management, etc) can acquire assets and equipments of necessity. These assets include:

• Fridges,
• Deep freezers,
• Refrigerators,
• Gas cookers,
• Generators (mini size)
• Air conditioners,
• Furniture,
• Washing machines
• Personal computers/laptops
• Communication gadgets (mobile phones, handsets)
• Motorcycles (Okada),
• Tricycles,
• Machines etc.
• Electric cookers
• Ovens
• Micro waves

 

5. Madelyn LPO Financing (M LP0)
This is a credit product designed to enable customers who have LPOs, Work Orders, and Contracts from reputable oil majors but do not have the fund to execute such contracts. M LPO enables you have access to the required fund based on proper domiciliation of proceeds from contract employers.

 

6. Madelyn Invoice/Receivable Discounting (M Invoice)
This product enables Madelyn Bank to provide funding to customers who have supplied goods/services or executed contracts for which invoices have been duly accepted for payment. For now only invoices from ExxonMobil qualify for this product.

 

7. Madelyn Group Loan (M Group)
Madelyn Group Loan is a working capital loan designed for micro-entrepreneurs who are members of a group, club or association. The group can access this loan facility to execute a project or purchase assets of benefit to the group.