Loans
We will work out the Money for you!
In life, getting ahead often requires a little support. Several personal needs or business opportunities do come up when we have little or no cash available. FundQuest steps in at such moments to support you or your business till you are able to pay back. Just explore our Product Catalogue; then, do let us know when to come in and we will settle the rest.
Payday Loan
Life has a way of presenting its most important expenses at the least convenient moment: a new school term, a professional examination, a certification standing between you and the next position, or a medical bill. Our Personal Loan meets these needs on terms shaped around how you earn, whether from a salary, a business or a practice of your own. And because the facility is priced on a Reducing Balance, your interest burden falls steadily as you repay.
- Suitable for Salary Earners, Business Owners, Parents and Guardians, and Individuals in self-employment.
- Finances personal needs including school fees, tuition, professional examinations, certifications and advanced learning, as well as medical bills, home improvement and other family commitments.
- Loan amount from N50,000 to N5.0million for a maximum tenor of 12 months.
- Repayment instalments are computed on a Reducing Balance basis, so interest applies only to the sum still outstanding.
- Where the purpose is school fees or tuition, disbursement is made directly into the institution’s account.
- No upfront fee or any hidden charge is applicable, and the loan can be liquidated before maturity and without penalty.
Personal Loan
There are instances when as a Salary Earner, you desire to access a loan and repay from both your monthly salary and alternative source of income (may be a side business). Essentially, you may be a part-time businessman or woman, a self-employed architect, a doctor running a private clinic, or a retired professional managing a part-time venture. Our Personal Loan product can be structured to suit your income variability and provide the financial cushion to conveniently manage your bills whether in the form of children school fees, medical bills, family vacation, home improvement, and the rest.
- Suitable for Individuals in Paid or Self Employment, including Retired Professionals.
- Loan amount from N50,000 to N10.0million for a maximum tenor of 15 months.
- Repayment is structured in equal monthly instalments over the term of the loan.
- No upfront fee or any hidden charge is applicable.
- Loan can be liquidated before maturity and without penalty.
Working Capital Financing
Access to working capital can be a major driver of business growth. But having a repayment plan that fits your cash flow is just as important. Our Working Capital Loan gives you quick access to the funds you need, with flexible repayment options designed around your business cash flow. If your business has recurring working capital needs, the facility can also be structured as a revolving line, allowing you to draw funds again as you repay.
- Suitable for registered SMEs and Business Owners to fund working capital, business expansion, inventories and operational running costs.
- Loan amount from N50,000 and above
- Loan tenor ranges from 1 month to a maximum of 12 months.
- Repayment is structured in line with your cash flow pattern, on either a Flat or Reducing Balance basis, at weekly or monthly intervals.
- Available as a Revolving Credit Facility where working capital needs recur through the year;
- No upfront fee is required and the loan can be liquidated before maturity.
Purchase Order Financing
Winning a contract is often the hardest part. Funding its execution shouldn’t be. Once your Purchase Order, Service Order, or Contract has been confirmed, we provide the working capital you need to mobilize and deliver the project. This allows you to keep your own funds available for your next opportunity. Repayment is made from the contract proceeds as they become due.
- Suitable for registered Companies and SMEs executing confirmed Purchase Orders, Service Orders and Contracts.
- Loan amount from N500,000 for a maximum tenor of 12 months.
- Financing is advanced against a confirmed order from a verifiable counterparty.
- Bullet repayment at maturity from contract proceeds or structured periodically in line with your cash flow.
- Contract proceeds are domiciled with FundQuest and supported by Post-Dated Cheques or an Auto-Debit Mandate on the receivable account.
- Third-Party Guarantees and Collateral Security apply as precedent conditions, depending on the size and structure of the transaction.
Invoice Discounting
You have completed the job, but payment is still pending. Your invoice has been raised and approved, but your customer’s payment terms may mean waiting weeks or months to get paid, while your next opportunity is already waiting. With our Invoice Discounting solution, you can access funds against your approved invoice today. This gives you the cash flow you need to take on your next contract without waiting for your customer’s payment.
- Suitable for registered Businesses that have completed and delivered a job and hold a confirmed, approved invoice awaiting payment.
- Advance of up to 70% of the invoice value, released once the invoice has been verified with your customer.
- Facility amount from N500,000 and above
- Loan tenor is matched to your customer’s payment cycle and may run up to 12 months.
- Repayment is settled directly from the invoice proceeds at maturity.
- Confirmation of the invoice by your customer and domiciliation of the proceeds with FundQuest are precedent conditions.
Bridge Finance Facility
Sometimes, you know the funds are coming, but they simply haven’t arrived yet. It could be a payment scheduled for the next quarter, a settlement awaiting release, or an expected inflow that you can confirm but cannot access yet. Our Bridge Finance Facility provides the funds you need to cover the gap until the expected payment arrives. Repayments are structured with equal instalments, making your monthly payments predictable and easier to plan for.
- Suitable for Individuals and Businesses with regular and consistent cash flows over a defined period;
- Bridges a short-term funding gap ahead of an identified and evidenced future inflow;
- Facility amount from N1.0million for a maximum tenor of 12 months;
- Repayment follows a Constant Balance payment structure, with equal instalments over the term of the facility;
- A clearly identified exit or source of repayment is required at the point of application;
- Collateral Security together with an Individual or Corporate Guarantee are required as precedent conditions.
Asset Financing Facility
There are assets a business simply cannot wait to acquire, and there are good reasons to hold the title to them from the very first day. Our Asset Financing Facility funds the purchase of vehicles, equipment, machinery and other durables while ownership passes to you at acquisition, with FundQuest holding security over the asset until the facility is fully repaid. Where you would rather we bought the asset and transferred title at the end of the term, our Lease Finance is the better route.
- Suitable for registered Businesses, Corporate Institutions, Business Owners and Confirmed Salary Earners.
- Funds the acquisition of vehicles, plant and machinery, medical and construction equipment, IT hardware, generators and other durable assets.
- Facility amount from N1.0million and above for a maximum tenor of 12 months.
- Ownership and title vest in you at acquisition, with FundQuest holding a registered charge over the asset until final repayment.
- Repayment is made in equal instalments, monthly or at such other intervals as suit your cash flow.
- The financed asset is insured under Comprehensive Insurance Cover with FundQuest noted as First Loss Payee.
- An equity contribution towards the cost of the asset is required.
Frequently Asked Questions
Individuals with BVN and valid means of identification, and Corporate Organizations with valid registration documents.
Your BVN is required to authenticate your identity and protect you from identity theft and fraud. Your BVN information is stored securely and it does not give us access to your bank account or transactions.
Individuals and Businesses can apply for loans between N10,000 and N50.0million, depending on the product, loan purpose and financial capacity of the applicant. For loans in excess of N50.0million, applicants must be a Corporate Institution.
You can apply by downloading our Mobile App or by clicking Here to apply on our Internet Banking platform. Some products can also be applied for by dialling our USSD Code *5078#. You can also send an email to enquiries@fundquestnigeria.com
We will require your valid means of identification, financial records and bank statement. For applicants in paid employment, your employment records will be required while the applicants in business will be required to provide the business registration documents and means of identification of the promoters. For certain loan products and amount thresholds, Collateral Security and Post-Dated Cheques will also be required. More details are available on our Mobile and Web Platforms or by sending an email to enquiries@fundquestnigeria.com
Yes, the credit history of the applicant will be verified from the licensed Credit Bureaus to ascertain your credit worthiness, including your history of dud cheques and past credit behaviour.
Yes, you can apply for a Personal Loan for your unregistered (side) business but the source of repayment shall be from your employment income.
Yes, we do. We will obtain the records of your past credit behaviour from the Credit Bureaus.
All our loans are priced at very competitive Interest Rate. The Interest Rate on any loan you apply for will be fixed over the period of the loan but the actual rate is dependent on factors such as loan product, loan amount, tenor, and credit performance history.
You will primarily be required to pay back your loans via any of our Mobile, Web or USSD Platforms. But you may also be able to pay via a cheque, bank transfer, or an auto-debit mandate placed your account.
Yes, you can repay your loan either fully or partly before maturity without penal charge. We always encourage you to do so in order to builds and strengthen your credit credibility.
We have no hidden charge for our loans. FundQuest shall disclose all associated charges on your loan request at the point of application.
No, you can apply for any of our loans via our Mobile, Web or USSD channels. You may also send an email to enquiries@fundquestnigeria.com or call 0700FUNDQUEST or +234 816 712 9770
Yes, you can apply for a loan top-up if your cash flow can support the repayment without default.
Unable to find a suitable product? You may wish to consider our Quest Suite of Savings/Investment bundles here or simply contact our Help Centre
