Applying for a Sofri SME Loan is simple and stress-free. You need:
Our interest rate ranges between 4% and 6% flat per month, depending on the loan assessment.
The maximum loan tenor is 12 months.
No. You can open a new Sofri account, and your business turnover will be used for analysis.
We require 12 months of bank statements.
Yes, a valid BVN is required as part of the loan process.
Yes. A 10% security deposit is required. This can be deducted from the loan amount and will be refunded with interest after full repayment.
The loan process takes up to 72 hours after all required documents have been fully submitted.
No. All applications are subject to Sofri’s credit and risk policies.
Yes. Businesses across Nigeria, including the North, are eligible to apply.
