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Overview

Are you a salary earner who sometimes need quick and easy short term loans to address financial emergencies? Quickcash from Snow Microfinance bank is the perfect solution for you. With minimal documentation and fast response time, Quickcash saves you from needless stress helping you concentrate on more productive activities.

QuickCash Variants

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80% of net monthly salary of customer over a period of 90days subject to a limit of N500,000.00

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100% of net monthly salary of customer over a period of 180 days subject to a limit of N500,000.00

Requirements

WHO CAN APPLY?

¨ Staff members of Private Organisation with a minimum of 10 Staff
¨ Staff of Blue Chip companies
¨ Civil and Public Servants
¨ Salary must be paid into a bank account

FEES PAYABLE

¨ Interest rate 5% monthly
¨ COT =N=3 per mille
¨ Legal fee 1.75% (up-front)
¨ Management fee 1% (up-front)
¨ Processing fee 1% (up-front)
¨ Commitment fee 1% (up-front)

COLLATERAL

¨ Deposit of post dated cheques
¨ Personal guarantee of 2 people one of which must be a staff of borrower company.
¨ 3 post dated cheques of guarantors

DOCUMENTS REQUIRED

¨ Letter of employment.
¨ Staff identity card
¨ Pay slip
¨ 6 months statement of account
¨ Other forms of identification (National Identity card, international passport, etc)
¨ Utility bill
¨ 2 passport photographs
¨ Post-dated cheques
¨ Signed offer letter

GUARANTOR’s DOCUMENTS

¨ Staff identity card
¨ Other means of identification
¨ Employment letter
¨ Utility bill
¨ Post dated cheques
¨ Statement of account (3 months)

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