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Personal Loans
Personal Loans
For individuals with valuable collateral, requiring funding for emergency medical expenses, education, home renovation, purchase of home appliances, or travel expenses.
For individuals with valuable collateral, requiring funding for emergency medical expenses, education, home renovation, purchase of home appliances, or travel expenses.
Business Loans
Business Loans
For established businesses with tangible assets requiring funding for business expansion, working capital needs, operations or equipment purchases.
For established businesses with tangible assets requiring funding for business expansion, working capital needs, operations or equipment purchases.
Frequently Asked Questions
Frequently Asked Questions
Q. How can I obtain a loan from PallyWad Capital?
Complete the Loan Application form here:
https://sites.google.com/view/pallywad-capital/contact
Important points to note:
Collateral Type: Car/Gold/Stock
Loan amount should not be more than 60% of collateral value
Tenor: 1 – 12 months
Capital Repayment Plan: Reducing Balance or Lumpsum at end of tenure
Q. What are the requirements for a loan?
A. Personal Loan Requirements
Applicant must be a resident of Lagos, Nigeria, i.e. must have a valid proof of address not more than 3 months old.
Make sure you have the Collateral Value stated above
A company representative will contact you after you submit your application form.
B. Business Loan Requirements
Same as personal but can only be applied for by a registered business in Lagos, Nigeria.
CAC documentation
Q. What is the interest rate?
A. Interest rates vary depending on the loan amount, tenure and customers’ credit profile.
Q. How long is the tenure?
A. Loan period varies from 1-12 months depending on the customer needs and credit profile.
Q. What is the repayment frequency?
A. Interest is repaid monthly throughout the loan period.
B. Capital can be repaid at any time during the loan period; there is no penalty for early repayment as we understand that customers’ financial plans may change, so they are welcome to pay back their loans anytime, even before loan maturity. Interest will be computed on a reducing balance method.
C. Capital repayments can be made:
in periodic instalments (reducing balance)
lump-sum at end of tenure
Q. What is Reducing Balance Method?
A. The Reducing Balance Method is where the interest to be paid by the customer is calculated based on the outstanding loan amount after periodic repayments. A sample loan schedule would be sent to you.
Q. What else do I need to know?
A. Experience is fully online until the point of collateral delivery.
B. Call us if you have any other questions.
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