Small Business Solutions

SME Grow My Biz by Zenith offers an enterprise a veritable platform to better manage the business and give it the visibility it deserves in the market. 

Doing business is a breeze when you have the right account. So get an account that offers solutions to help you reach your goals. By providing resources and offering advisory services we will help you along on this journey because we consider your small business a pretty big deal.

When you join your college buddy or your second cousin to set up a business, a lot of things could get very complicated very fast. Your bank account should not be one of them. Our partnership accounts are simple and straightforward, enabling you focus on running your business.

When your alma mater forms a registered association of old students, or your golfing pals decide to take the friendship to the next level, our accounts for Clubs, Societies and Associations will come in very handy indeed, with clearly defined reporting that keeps everyone in the know.

Long thought to be the exclusive preserve of the ultra-wealthy as a way to protect passing on significant sums of money, our trust funds can actually be set up by anyone in any income bracket to ensure their loved ones are provided for when the inevitable happens.

• Agricultural sector.
• Real sector including Manufacturing, mining and petrochemicals.
• Service sector including Information and Communication (ICT) and the creative Industry.
• Other businesses as determined by the Central Bank of Nigeria (CBN).

1. Debt Component – This makes up 50% of the funds which will be disbursed as loans to eligible businesses through Commercial Banks.

Terms
• Loan Limit: ₦10 million (Maximum)
• Interest Rate: 5% p.a
• Tenor: Up to 7 years
• Moratorium: Maximum of 18 months on Principal and 6 months on Interest

2. Equity Component – This constitutes 45% of the funds which will be channelled through Fund Managers for equity investments in agri-businesses and SME’s.

Terms
• Loan Limit: Not more than 40% of the investee company’s equity subject to a maximum of ₦2 Billion.
• Tenor: Up to 10 years with an initial lock period of 3 years.

• Duly Completed Application Form
• Bank Verification Number (BVN)
• Certificate of Training from a recognized Entrepreneurship Development Institution (EDI) or evidence of membership of organized private sector association
• Letter of Introduction from any of the following- Clergy, Village Head, District Head, Traditional Ruler, Senior Civil Servant etc (for Individuals and Micro Enterprises Only)
• Evidence of Registration of Business Name or Certificate of Incorporation and filing of annual returns (where applicable)
• Tax Identification Number (TIN) and current Tax Clearance Certificate (where applicable)

You have to be trained by an Enterprise Development Institutions, after which the application form will be given to you for completion and submission to the Central Bank of Nigeria (CBN).

CBN will ask banks to verify your account details and then conduct it’s own assessment before disbursement of funds.