Personal/Micro Loans

Personal loans are small, unsecured loans given to individuals to meet their personal needs. These loans can be used for various purposes such as home improvements, medical expenses, or emergency needs. Micro loans, on the other hand, are specifically small loans aimed at individuals or small businesses who may not have access to traditional banking services. Micro loans are particularly useful in developing economies, helping entrepreneurs or small businesses with working capital.

SMEs Loans

Small and Medium Enterprises (SMEs) Loans are designed to provide financing to small and medium-sized businesses. These loans support the growth and expansion of SMEs by offering capital for operational expenses, equipment purchases, or business development. SME loans are crucial for fostering entrepreneurship and supporting the economic growth of a region, as they offer smaller businesses the ability to compete and scale their operations.

Educational Loans

Educational loans provide financial assistance to students or their families to cover tuition fees, accommodation, books, and other related educational expenses. These loans can be offered at favorable interest rates, often with repayment terms that begin after the student graduates. They are critical in helping individuals access higher education and professional development, which they might otherwise be unable to afford upfront.

Business Support

Business support services include loans or financial products specifically tailored to meet the needs of businesses. This could involve working capital financing, lines of credit, or loan facilities to help businesses manage cash flow, expand operations, or invest in new projects. Business support typically also involves advisory services to help businesses navigate financial decisions and improve operational efficiency.

Asset Financing

Asset financing is a type of lending in which businesses or individuals secure loans by using their assets (such as machinery, vehicles, or equipment) as collateral. Asset financing allows borrowers to purchase or lease large assets without paying the full cost upfront. Instead, they can spread out the payments over time. This is often used for acquiring equipment or real estate necessary for business growth.

Daily Contributions

Daily contributions, also known as "ajo" or "esusu" in some parts of Africa, are a traditional saving scheme where individuals contribute a fixed amount daily into a collective pool. These contributions are then distributed to a participant at regular intervals, allowing individuals to save consistently or access pooled funds for business or personal use. Financial institutions sometimes formalize this process by offering daily contribution accounts to help customers save regularly.

Monthly Contributions

Similar to daily contributions, monthly contributions involve participants contributing a set amount of money on a monthly basis. These savings or funds are then distributed or made accessible to members based on pre-agreed terms. This is often used as a savings plan or to create a pool of funds that members can access for specific needs, such as emergencies, education, or business growth.

Deposits

Deposits refer to the money customers place in a financial institution such as a bank or credit union for safekeeping. These deposits can be held in different types of accounts, including savings accounts, fixed deposits, or checking accounts. In return, financial institutions may offer interest on these deposits, and customers can access their money as needed, depending on the type of deposit account.