This is a loan made available to enable traders on a group-by-group basis to make good revenue and to meet their basic financial needs.

The bank will make loans available to members of the group based on the following:

1. The group has a minimum number of 10.
2. Unity Savings account will be opened with a compulsory deposit of 20% of the loan value.
3. The group members must have verifiable ongoing trades/skilsl.
4. The loan amount is dependent on the type of trade but a maximum of N100,000.00 is for the first disbursement.
5. Cross-guarantee among group members is permitted in additiom to a second independent guarantor who is not a member of the group.
6. The Independent guarantor will fill out the guarantee forms, provide a passport photograph and an acceptable form of identification. He/sh will attend an interview session followed by an executed commitment to repay if the borrower defaults.
7. The loan is for a period of 12-24 weeks, with one week of grace.
8. Valid ID eg Voters Card, Driver’s licence, International Passport
9. Homogenous grouping
10. 00 (Five Hundred Nairal only) registration fee.
11. BVN

1. Application letter
2. A copy of letter of employment, confirmation,
3. Official identity card
4. Six months pay slip and salary account bank statement.
5. Undated signed cheque leaflets for salary account.
6. Two guarantors who are salary earners.
7. Guarantors are to submit: 6 (six)  months’ statement of account, valid means of identification,  3 undated signed cheque leaflets each, 1 passport photogruph and a signed personal guarantee form provided by the  Bank
8. Loan amount cannot be more than a third of net of 6 month’s salary
9. Maximum of 6 months’ repayment.
10. Tangible Collateral which must be at least 150% of the loan value for the loan value above N500,000 ( Five Hundred Thousand Naira)
11. Micro insurance cover
12. Personal profile of the borrower

1. Application Letter
2. Awarded Local Purchase Order
3. Confirmation of LPO
4. Confirmation that all payment of LPO proceeds wil be domiciled/paid to applicant’s account with Berachah Microfinance bank.
5. Direct payment to the vendor by the bank
6. Confirmation of product quality to tally with specific given standards.
7. Two guarantors. Guarantors to submit: 6 months’ statement of account, valid form of identification , 3 undated signed cheque leaflets each, 1 passport photograph and a signed personal guarantee form provided by the bank
8. Undated signed other bank cheques of the applicant.
9. Tenor of loan is duration of LPO
10. Quotation for the cost to be incurred to execute the contract
11. Business and personal profile
12. 30% Equity contribution
13. Tangible Collateral which must be at least 150% of the loan value for loan value above N500,000 (Five Hundred Thousand)
14. Micro insurance cover.

1. 1. Application letter
   2. Applicant to provide school fees bill
   3. Applicant who is a salary earner must provide copy of letter of employment, confirmation letter, official identity card; 3 (three) months’ pay advice, 6 (six) months’ salary account bank statement. 3 undated signed cheque leaflets for salary account.
   4. Maximum loan of 50% -70% of school fees value.
   5. Domiciliation of salary or automation of Direct debit deduction from salary account on a monthly basis or provision of undated signed cheque leaflets for salary account for monthly repayment.
   6. Two guarantors who are salary earners. Guarantors to submit: 3 (three) months’ pay slip, copy of official ID card, 3 undated signed cheque leaflets for monthly repayments, 1 passport photograph, 3 (three) months’ salary account bank statements and execute personal guarantee form.
   7. Loan to be liquidated by end of term/semester or session, maximum repayment tenor of 12 months.
   8. Letter of admission from the borrower’s school
   9. Tangible Collateral which must be at least 150% of the loan value for loan value above N500,000 (Five Hundred Thousand Naira)
   10. Micro insurance cover.

1. Applicant to submit application
2. Proforma invoice of equipment/asset to be purchased.
3. 20% equity contribution
4. Payment directly to vendor and purchase in the name of the bank/applicant. The original document will be in possession of the bank until after loan is fully paid off.
5. Two guarantors. Two guarantors who are salary earners. Guarantors to submit 3 (three) months pay slip, copy of official ID card, 3 undated signed cheque leaflets, 1 (one) passport photograph, 3 (three) months’ salary account bank statements, completed guarantors form to be provided by the bank.
6. Compressive Insurance cover for equipment.
7. 6 months maximum repayment period.
8. Business profile
9. Tangible Collateral which must be at least 150% of the loan value for loan value above N500,000 ( Five Hundred Thousand Naira).

1. Application must give details of improvement and previous work done on building.
2. Statement of account for the last six months
3. Applicant must have ownership of property.
4. Simple deposit of title documents with equitable mortgage on the property
5. Guarantee of another person/organization with their 3 (three) signed undated cheques to support.
6. Personal Guarantees of 2 key individuals (in case of an organization) backed up with their undated signed personal cheque leaflets of other banks other than Berachah Microfinance Bank.
7. Applicant to provide other bank’s cheques for repayment if main account is not with Berachah MFB.
8. Loan amount subject to salary, cashflow and capacity.