First Edu Loan app: App download, Signup, Login, how to apply, Interest Rates, loan ussd code, customer care
In a groundbreaking move towards enhancing educational facilities in Nigeria, First Bank of Nigeria Limited introduces FirstEdu Loans, an initiative dedicated to supporting private nursery and secondary schools. With a mission to uplift the quality of education in the nation, FirstEdu Loans not only provides financial assistance but also integrates a comprehensive platform for managing academic and administrative challenges. This article delves into all the essential information you need to know about FirstEdu Loans, from eligibility requirements to the lending process.
About First Bank of Nigeria Limited:
With a legacy spanning 126 years, First Bank of Nigeria Limited stands as the apex bank in West Africa, making a profound impact on society. Serving over 17 million customers through 57,000 business outlets nationwide, First Bank is a pioneering force in the Nigerian banking industry. Internationally, it has a footprint in London, Paris, Congo, Ghana, The Gambia, Guinea, Sierra Leone, and Senegal. Recognized as a national icon, First Bank is at the forefront of promoting a digital economy in Africa, issuing over 10 million cards and achieving over 28 million users on their USSD banking services.
Features of FirstEdu Loans:
- Eligibility:
- Available to all private schools in Nigeria duly registered under CAC.
- Maximum loan amount: N20M.
- Loan tenor: 90 days to 12 months.
- Schools with CAC registration (without Ministry approval) can access up to N2 million for 90 days.
- Finance of operational vehicles for schools.
- Collateral: Undertaking to domicile school fees with First Bank.
- Minimum account relationship with any bank for 12 months.
- Minimum student population of 100 students.
- Required Documents:
- Evidence of Government Approval of School.
- Document showing the number of students in your school.
- School Memorandum of Articles of Association (MEMART), where applicable.
- Document showing how long your school has been in business.
- Any other document as required by First Bank of Nigeria.
- Government-backed identity documents for identity verification.
Who Can Apply:
Private, pre-primary, primary, and secondary schools registered with both the state Ministry of Education and CAC are eligible to apply.
How to Apply for FirstEdu Loan:
The application process is seamless:
- Download the FirstEdu Loan application form here.
- Review the form to understand the requirements.
- Complete the form.
- Submit the form to the nearest First Bank Branch.
Loan Amount:
The maximum loan amount is N20 million, and it depends on meeting the specified requirements.
Conclusion:
First Bank of Nigeria’s FirstEdu loan is a strategic solution tailored to the needs of school owners seeking additional funds for seamless school operations. If you meet the eligibility criteria, don’t miss out on this opportunity. Seize the moment and contribute to the advancement of education in Nigeria.