NOBLE LENDING CLUB PLATFORM
Introduction
The Noble Lending Club platform was designed to help Iniclub Business Volunteers access other bankable facilities to boost their business/project through crowdfunding with support from the banks at intervals. The International Noble Initiative Club deals are exclusively to registered Financial Members and members of INICLUB Cooperatives and affiliates.
Funding approved is channeled through accredited cooperatives for on-lending to members. It is important to note that Iniclub is a business and community development club and its funding is derived from venture philanthropy and other social enterprise contributions by members as well as financial institutions.
Iniclub is neither a moneylender nor an NGO-MFI, rather encourage peer-to-peer lending among member cooperatives and individual through Noble Lending Club platform.
From time to time provide inclusive financial advisory to members to help reduce the impact of unemployment, underemployment, poverty, hunger and other social milieu that could hamper the progress of the global business community.
Seek proper advice before engagement here to understand the various packages and sources of funds.
Funding Sources for Small Businesses
Small businesses typically follow a predictable pecking order as they capitalize their business. This stands to reason since the categories of sources of capital, namely debt and equity, have specific requirements as well as pros & cons that determine their respective transaction costs. In general, the pecking order of capital for a small business is of course equity from the owner, loans, and then equity from others.
Debt Funding Sources
You may be hesitant about borrowing money to finance your business, but as long as you will have sufficient cash flow to pay back the debt, debt funding could be a good option. Debt financing is borrowing the money that you need to finance operations and growth. You must enter into a legal obligation to repay the amount of money borrowed.
Advantages
· You will retain full ownership of your business
· You will build your credit
Disadvantages
· Must repay debt
· Principal and interest payments
Three categories of debt funding are personal loans, operations-related financing, and business loans.
Below, these categories are discussed in detail.
Personal loans- Personal loans are often the easiest funds for a small business owner to obtain. Types of personal loans are:
Personal Bank Loans- A personal bank loan is obtained from a bank and must be paid back in monthly installments. A personal bank loan can either be secured (collateral is required) or unsecured (no collateral is required).
Loans from Life Insurance- You may be able to borrow against the cash surrender value of your life insurance policy. In many cases, insurance companies allow customers to borrow up to 95 percent of the paid-in value.
Cooperative Credit Cards- Credit cards are the most common form of short-term credit. Many small businesses use credit cards to buy supplies and other necessities and to pay for everyday purchases. Using a credit card will be a more costly form of credit than other types of personal loans. You should only use this card if your credit limit is high enough to cover your needs, and if you can repay the balance quickly.
Second Mortgage (Home Equity Credit)- If you have enough equity in your home, you may be able to qualify for a home equity loan or a line of credit. Including the first mortgage, you may be able to borrow up to 80 percent for the appraised value of your home. This type of borrowing may offer tax advantages, but make sure you are able to repay the loan because you do not want to be in danger of losing your home.
Friends and Relatives- You may be able to talk to friends and relatives about financial support. If you choose to use this option, treat the transaction in a professional manner. Pay a fair rate of interest, sign a legal promissory note, and repay the money as agreed.
Operations Related Financing- This category of debt financing depends on the day-to-day operations of your business. This category includes options for start-up and established businesses. Types of operations related financing are:
Warehousing/Supplier Credit- The suppliers you do business with can be a source of funds if they extend favorable credit terms to you. The availability of this form of credit will vary depending on the industries you and your vendor are in.
Customer Credit- You may be able to create a form of credit by getting your customers to make a deposit or pay in advance. They may be willing to prepay if you offer a discount as an incentive.
Leasing- Leasing is a rental arrangement that will give you the use of an asset that someone else owns. Also the total cost of leasing will be more than purchasing the item outright, this is a way to reduce the amount of money upfront to get your business running. Little to no down payment is required, and the company can purchase equipment at the end of the lease. Payment terms are usually monthly.
Accounts-Receivable Financing- If you have receivables (accounts that have been billed but not paid), you may be able to use these as collateral for a small business loan. Lenders that offer accounts-receivable financing will generally offer between 50 and 80 percent of the total invoice amounts outstanding, depending on the type of receivables and collection method.
Factoring- Factoring allows you to sell your receivables to a financing source called a factor. You will be paid a percentage of the total value of these accounts, depending on the type of receivables and collection method. Once you have sold the receivables to the factor, the factor will collect the accounts and absorb any losses. Payment terms are dependent on changes with accounts receivable sold.
Asset-Based Financing- You may be able to borrow money on the assets your business owns. Asset-based financing can be structured as a one-time extension of credit or as a revolving line of credit requiring a periodic review of the assets pledged as collateral. These loans are used for rapidly growing or cash strapped companies. The borrower pledges assets secure a loan that will be used to improve cash flow. Accounts receivable and inventory are common collateral. Additionally, asset-based loans can be used for inventory floor plans. Payments are usually monthly, but payment terms are dependent on changes in inventory and accounts receivable.
Business Loans- This category of debt financing is the most traditional and widely used among small businesses. Types of business loans are:
Term/Installment Loans- These are installment loans that are paid back at regular intervals over a specified period of time. These loans are granted for a specific purpose, such as for working capital or an upgrade in equipment. The term of the loan will depend on the use of the funds, but it can range from short term to long
term. The payment terms for these loans are either monthly or quarterly and include principal and interest.
Commercial Mortgages- A commercial mortgage is a business loan that involves business, not residential, real estate. A mortgage is the legal document that insures the payment of the borrower. The payment terms for these loans are either monthly or quarterly and include principal and interest.
Demand Notes- This type of financing is a single-payment loan that is intended for specific short term needs. The contract can call for payment in full within 90 to 180 days, but the lender can call for the repayment of the note at any time. You may also be asked to make periodic interest payments during the life of the note.
Lines of Credit- Like a credit card, a line of credit establishes a credit limit and specific terms for repayment. Lines of credit are easy to access and offer flexibility in managing cash flow needs. Many small business owners establish a line of credit as a precaution. Lines of credit are usually linked to short-term assets (accounts receivable, inventory, etc.). An installment line of credit is when the lender agrees to lend money for a specific time period, usually one year. Lines can be used to facilitate the purchase of inventory and equipment, and cover seasonal business fluctuations. A revolving line of credit is when the borrower has a fixed amount available and when used, the credit line is reduced. When principal is paid, the credit line is restored.
Letter of Credit- A letter of credit is a document issued by the bank to which the bank agrees to accept drafts under set conditions. A letter of credit is used for companies needing to show good faith for a particular purpose. The letter of credit is typically used for exporters and contractors.
Bridge Loans- A bridge loan is a short-term loan, less than one year, between the end of one loan and the beginning of another. It must be paid at the end of the period or consolidated into the next loan.
Permanent Working Capital- Permanent working capital is usually a line of credit that never reaches a zero balance. The loan extends beyond one year. The loan can be revolving. Interest is due on a monthly balance.
Government-assisted loans- There are several loan programs in which the government either directly lends to small business owners or provides a guarantee of loan repayment to small business lenders. Government-assisted small business loans are offered by federal agencies such as the NAPEP, CBN, Nerfund, Rufin, as well as by state and local agencies.
Equity Funding Sources
Equity financing may seem less intimidating to a small business owner than debt financing because of the lack of concern of qualifying for a loan and paying back debt. Equity financing requires selling a partial interest or ownership in your company. And can involve substantial transaction costs.
Advantages
· No debt payments
· Increases the net worth of the business
Disadvantages
· No longer the full owner of the business because financial contributors expect a share
· Must relinquish some control
The types of equity partners to be considered include informal investors, limited stock offering, venture capital, and initial public offering (IPO). Following, there is a detailed discussion of each type.
Informal Investors- Informal investors can include family, friends, colleagues, suppliers, or private (angel) investors. Private (angel) investors are difficult to find and require a very detailed business plan. You can find investors by contacting the investor directly or by contacting accountants, bankers, stockholders, venture capitalists, or investment clubs.
Limited Stock Offering- Limited stock offering provides an opportunity for your company to raise significant amounts of equity from outside investors without the high cost and burden of a public stock offering. A limited stock offering is still subject to some state and federal regulations. You must make sure your offering complies with all provisions that exempt it from the public offering registration process.
Venture Capital- Venture capitalists are the most risk-oriented investors. Most venture capital firms have specific investment preferences that involve business style, size of investment, rapid growth, and high return. To a venture capitalist, the most important factors are the management team and the ability to recover investment with substantial return in 5-7 years. Venture capital funds are typically available to less than one half of one percent of all new businesses.
Initial Public Offering (IPO)- An IPO involves offering your stock to the public. It is very expensive as it requires extensive registration procedures. Most small businesses will not consider IPO for the afore-mentioned reasons. However, a profitable and well-managed business with great market appeal may consider IPO as an option.
Application and Disbursement Schedule on Approval - To participate in the equity fund placement between 10 – 30%, apply to [email protected]. To subscribe with your membership code (don’t use name). Submit your NOBLE LENDING CLUB MSME application form by email or through your local coordinator.
Disbursement Committee shall act on all qualified members entries and successful applicants will be invited for interview before disbursement through accredited Iniclub State/Local Chapter Cooperatives across board monthly.
NOTICE OF DISCLAIMER
Noble Lending Club information for participants on the platform is updated regularly and changes may occur to any subject without prior notice. Iniclub does not and will not be responsible for any information not properly obtained from the secretariat before entering into the program. Any rejection or refusal of any application shall henceforth have no right of appeal or administrative review. Applicant may submit fresh application that will be treated on its merit except the earlier rejection is substantially cleared it will not change the initial rejection or refusal on the Noble Lending Club platform. Be warned.
Introduction
The Noble Lending Club platform was designed to help Iniclub Business Volunteers access other bankable facilities to boost their business/project through crowdfunding with support from the banks at intervals. The International Noble Initiative Club deals are exclusively to registered Financial Members and members of INICLUB Cooperatives and affiliates.
Funding approved is channeled through accredited cooperatives for on-lending to members. It is important to note that Iniclub is a business and community development club and its funding is derived from venture philanthropy and other social enterprise contributions by members as well as financial institutions.
Iniclub is neither a moneylender nor an NGO-MFI, rather encourage peer-to-peer lending among member cooperatives and individual through Noble Lending Club platform.
From time to time provide inclusive financial advisory to members to help reduce the impact of unemployment, underemployment, poverty, hunger and other social milieu that could hamper the progress of the global business community.
Seek proper advice before engagement here to understand the various packages and sources of funds.
Funding Sources for Small Businesses
Small businesses typically follow a predictable pecking order as they capitalize their business. This stands to reason since the categories of sources of capital, namely debt and equity, have specific requirements as well as pros & cons that determine their respective transaction costs. In general, the pecking order of capital for a small business is of course equity from the owner, loans, and then equity from others.
Debt Funding Sources
You may be hesitant about borrowing money to finance your business, but as long as you will have sufficient cash flow to pay back the debt, debt funding could be a good option. Debt financing is borrowing the money that you need to finance operations and growth. You must enter into a legal obligation to repay the amount of money borrowed.
Advantages
· You will retain full ownership of your business
· You will build your credit
Disadvantages
· Must repay debt
· Principal and interest payments
Three categories of debt funding are personal loans, operations-related financing, and business loans.
Below, these categories are discussed in detail.
Personal loans- Personal loans are often the easiest funds for a small business owner to obtain. Types of personal loans are:
Personal Bank Loans- A personal bank loan is obtained from a bank and must be paid back in monthly installments. A personal bank loan can either be secured (collateral is required) or unsecured (no collateral is required).
Loans from Life Insurance- You may be able to borrow against the cash surrender value of your life insurance policy. In many cases, insurance companies allow customers to borrow up to 95 percent of the paid-in value.
Cooperative Credit Cards- Credit cards are the most common form of short-term credit. Many small businesses use credit cards to buy supplies and other necessities and to pay for everyday purchases. Using a credit card will be a more costly form of credit than other types of personal loans. You should only use this card if your credit limit is high enough to cover your needs, and if you can repay the balance quickly.
Second Mortgage (Home Equity Credit)- If you have enough equity in your home, you may be able to qualify for a home equity loan or a line of credit. Including the first mortgage, you may be able to borrow up to 80 percent for the appraised value of your home. This type of borrowing may offer tax advantages, but make sure you are able to repay the loan because you do not want to be in danger of losing your home.
Friends and Relatives- You may be able to talk to friends and relatives about financial support. If you choose to use this option, treat the transaction in a professional manner. Pay a fair rate of interest, sign a legal promissory note, and repay the money as agreed.
Operations Related Financing- This category of debt financing depends on the day-to-day operations of your business. This category includes options for start-up and established businesses. Types of operations related financing are:
Warehousing/Supplier Credit- The suppliers you do business with can be a source of funds if they extend favorable credit terms to you. The availability of this form of credit will vary depending on the industries you and your vendor are in.
Customer Credit- You may be able to create a form of credit by getting your customers to make a deposit or pay in advance. They may be willing to prepay if you offer a discount as an incentive.
Leasing- Leasing is a rental arrangement that will give you the use of an asset that someone else owns. Also the total cost of leasing will be more than purchasing the item outright, this is a way to reduce the amount of money upfront to get your business running. Little to no down payment is required, and the company can purchase equipment at the end of the lease. Payment terms are usually monthly.
Accounts-Receivable Financing- If you have receivables (accounts that have been billed but not paid), you may be able to use these as collateral for a small business loan. Lenders that offer accounts-receivable financing will generally offer between 50 and 80 percent of the total invoice amounts outstanding, depending on the type of receivables and collection method.
Factoring- Factoring allows you to sell your receivables to a financing source called a factor. You will be paid a percentage of the total value of these accounts, depending on the type of receivables and collection method. Once you have sold the receivables to the factor, the factor will collect the accounts and absorb any losses. Payment terms are dependent on changes with accounts receivable sold.
Asset-Based Financing- You may be able to borrow money on the assets your business owns. Asset-based financing can be structured as a one-time extension of credit or as a revolving line of credit requiring a periodic review of the assets pledged as collateral. These loans are used for rapidly growing or cash strapped companies. The borrower pledges assets secure a loan that will be used to improve cash flow. Accounts receivable and inventory are common collateral. Additionally, asset-based loans can be used for inventory floor plans. Payments are usually monthly, but payment terms are dependent on changes in inventory and accounts receivable.
Business Loans- This category of debt financing is the most traditional and widely used among small businesses. Types of business loans are:
Term/Installment Loans- These are installment loans that are paid back at regular intervals over a specified period of time. These loans are granted for a specific purpose, such as for working capital or an upgrade in equipment. The term of the loan will depend on the use of the funds, but it can range from short term to long
term. The payment terms for these loans are either monthly or quarterly and include principal and interest.
Commercial Mortgages- A commercial mortgage is a business loan that involves business, not residential, real estate. A mortgage is the legal document that insures the payment of the borrower. The payment terms for these loans are either monthly or quarterly and include principal and interest.
Demand Notes- This type of financing is a single-payment loan that is intended for specific short term needs. The contract can call for payment in full within 90 to 180 days, but the lender can call for the repayment of the note at any time. You may also be asked to make periodic interest payments during the life of the note.
Lines of Credit- Like a credit card, a line of credit establishes a credit limit and specific terms for repayment. Lines of credit are easy to access and offer flexibility in managing cash flow needs. Many small business owners establish a line of credit as a precaution. Lines of credit are usually linked to short-term assets (accounts receivable, inventory, etc.). An installment line of credit is when the lender agrees to lend money for a specific time period, usually one year. Lines can be used to facilitate the purchase of inventory and equipment, and cover seasonal business fluctuations. A revolving line of credit is when the borrower has a fixed amount available and when used, the credit line is reduced. When principal is paid, the credit line is restored.
Letter of Credit- A letter of credit is a document issued by the bank to which the bank agrees to accept drafts under set conditions. A letter of credit is used for companies needing to show good faith for a particular purpose. The letter of credit is typically used for exporters and contractors.
Bridge Loans- A bridge loan is a short-term loan, less than one year, between the end of one loan and the beginning of another. It must be paid at the end of the period or consolidated into the next loan.
Permanent Working Capital- Permanent working capital is usually a line of credit that never reaches a zero balance. The loan extends beyond one year. The loan can be revolving. Interest is due on a monthly balance.
Government-assisted loans- There are several loan programs in which the government either directly lends to small business owners or provides a guarantee of loan repayment to small business lenders. Government-assisted small business loans are offered by federal agencies such as the NAPEP, CBN, Nerfund, Rufin, as well as by state and local agencies.
Equity Funding Sources
Equity financing may seem less intimidating to a small business owner than debt financing because of the lack of concern of qualifying for a loan and paying back debt. Equity financing requires selling a partial interest or ownership in your company. And can involve substantial transaction costs.
Advantages
· No debt payments
· Increases the net worth of the business
Disadvantages
· No longer the full owner of the business because financial contributors expect a share
· Must relinquish some control
The types of equity partners to be considered include informal investors, limited stock offering, venture capital, and initial public offering (IPO). Following, there is a detailed discussion of each type.
Informal Investors- Informal investors can include family, friends, colleagues, suppliers, or private (angel) investors. Private (angel) investors are difficult to find and require a very detailed business plan. You can find investors by contacting the investor directly or by contacting accountants, bankers, stockholders, venture capitalists, or investment clubs.
Limited Stock Offering- Limited stock offering provides an opportunity for your company to raise significant amounts of equity from outside investors without the high cost and burden of a public stock offering. A limited stock offering is still subject to some state and federal regulations. You must make sure your offering complies with all provisions that exempt it from the public offering registration process.
Venture Capital- Venture capitalists are the most risk-oriented investors. Most venture capital firms have specific investment preferences that involve business style, size of investment, rapid growth, and high return. To a venture capitalist, the most important factors are the management team and the ability to recover investment with substantial return in 5-7 years. Venture capital funds are typically available to less than one half of one percent of all new businesses.
Initial Public Offering (IPO)- An IPO involves offering your stock to the public. It is very expensive as it requires extensive registration procedures. Most small businesses will not consider IPO for the afore-mentioned reasons. However, a profitable and well-managed business with great market appeal may consider IPO as an option.
Application and Disbursement Schedule on Approval - To participate in the equity fund placement between 10 – 30%, apply to [email protected]. To subscribe with your membership code (don’t use name). Submit your NOBLE LENDING CLUB MSME application form by email or through your local coordinator.
Disbursement Committee shall act on all qualified members entries and successful applicants will be invited for interview before disbursement through accredited Iniclub State/Local Chapter Cooperatives across board monthly.
NOTICE OF DISCLAIMER
Noble Lending Club information for participants on the platform is updated regularly and changes may occur to any subject without prior notice. Iniclub does not and will not be responsible for any information not properly obtained from the secretariat before entering into the program. Any rejection or refusal of any application shall henceforth have no right of appeal or administrative review. Applicant may submit fresh application that will be treated on its merit except the earlier rejection is substantially cleared it will not change the initial rejection or refusal on the Noble Lending Club platform. Be warned.
INICLUB PEER-TO-PEER LENDING PLATFORM
The Noble Lending Club® to introduce Weekly Peer-to-Peer Lending activities in association with Iniclub Cooperative Network at the Zonal Camping Orientation for Iniclub ACTIVE Financial Members with terms and conditions for participants from June 16, 2018 during the Noble Business Assembly (Business Session) in Lagos.
TERMS:
· The platform is exclusive to Interested Financial Members to contribute to boost their businesses in Nigeria.
· No Lending Interest Rate.
· Three (3%) per cent on Drawdown Administrative Charges.
· Special Clause is that Members must be active at Local Cooperative Meetings and Savings to qualify for application to participate.
· Contribution is monitored and controlled in collaboration with Licensed Microfinance Banks, Universal Banks, Securities and Insurance Companies approved by Iniclub Executive Council.
TARGET GROUPS:
INDIVIDUAL FINANCIAL INICLUB MEMBER (MINI):
· Twenty (20) Participants per Group.
· One Hundred Thousand Naira (N100,000.00) Weekly Contribution Only.
· Two Million Naira Only (N2,000,000.00) Drawdown Weekly per participant on revolving Lending.
· Number of Weeks: 20.
INDIVIDUAL FINANCIAL INICLUB MEMBER (MIDI):
· Twenty (20) Participants per Group.
· Two Hundred and Fifty Thousand Naira (N250,000.00) Weekly Contribution Only.
· Five Million Naira Only (N5,000,000.00) Drawdown Weekly per participant on revolving Lending.
· Number of Weeks: 20.
INDIVIDUAL FINANCIAL INICLUB MEMBER (MIDI PLUS):
· Twenty (20) Participants per Group.
· Five Hundred Thousand Naira (N500,000.00) Weekly Contribution Only.
· Ten Million Naira Only (N10,000,000.00) Drawdown Weekly per participant on revolving Lending.
· Number of Weeks: 20.
INDIVIDUAL FINANCIAL INICLUB MEMBER (MAX):
· Twenty (20) Participants per Group.
· One Million Naira Only (N1,000,000.00) Weekly Contribution Only.
· Twenty Million Naira Only (N20,000,000.00) Drawdown Weekly per participant on revolving Lending.
· Number of Weeks: 20.
CORPORATE FINANCIAL INICLUB MEMBER (EXPRESS):
· Twenty (20) Participants per Group.
· Fifty Million Naira Only (N50,000,000.00) Weekly Contribution Only.
· One Billion Million Naira Only (N1,000,000,000.00) Drawdown Weekly per participant on revolving Lending.
· Number of Weeks: 20.
CORPORATE FINANCIAL INICLUB MEMBER (GOLD):
· Twenty (20) Participants per Group.
· Ten Million Naira (N10,000,000.00) Weekly Contribution Only.
· Two Hundred Million Naira Only (N200,000,000.00) Drawdown Weekly per participant on revolving Lending.
· Number of Weeks: 20.
CORPORATE FINANCIAL INICLUB MEMBER (SILVER):
· Twenty (20) Participants per Group.
· Five Million Naira Only (N5,000,000.00) Weekly Contribution Only.
· One Hundred Million Naira Only (N100,000,000.00) Drawdown Weekly per participant on revolving Lending.
· Number of Weeks: 20.
HOW TO PARTICIPATE:
· Apply for Peer-2-Peer Lending participation form for processing and approval by the Executive Council for Noble Lending Club® Grouping.
· Interested Iniclub Individual Financial members are to apply to the CEO, Noble Lending Club® email: [email protected]
The Noble Lending Club® to introduce Weekly Peer-to-Peer Lending activities in association with Iniclub Cooperative Network at the Zonal Camping Orientation for Iniclub ACTIVE Financial Members with terms and conditions for participants from June 16, 2018 during the Noble Business Assembly (Business Session) in Lagos.
TERMS:
· The platform is exclusive to Interested Financial Members to contribute to boost their businesses in Nigeria.
· No Lending Interest Rate.
· Three (3%) per cent on Drawdown Administrative Charges.
· Special Clause is that Members must be active at Local Cooperative Meetings and Savings to qualify for application to participate.
· Contribution is monitored and controlled in collaboration with Licensed Microfinance Banks, Universal Banks, Securities and Insurance Companies approved by Iniclub Executive Council.
TARGET GROUPS:
INDIVIDUAL FINANCIAL INICLUB MEMBER (MINI):
· Twenty (20) Participants per Group.
· One Hundred Thousand Naira (N100,000.00) Weekly Contribution Only.
· Two Million Naira Only (N2,000,000.00) Drawdown Weekly per participant on revolving Lending.
· Number of Weeks: 20.
INDIVIDUAL FINANCIAL INICLUB MEMBER (MIDI):
· Twenty (20) Participants per Group.
· Two Hundred and Fifty Thousand Naira (N250,000.00) Weekly Contribution Only.
· Five Million Naira Only (N5,000,000.00) Drawdown Weekly per participant on revolving Lending.
· Number of Weeks: 20.
INDIVIDUAL FINANCIAL INICLUB MEMBER (MIDI PLUS):
· Twenty (20) Participants per Group.
· Five Hundred Thousand Naira (N500,000.00) Weekly Contribution Only.
· Ten Million Naira Only (N10,000,000.00) Drawdown Weekly per participant on revolving Lending.
· Number of Weeks: 20.
INDIVIDUAL FINANCIAL INICLUB MEMBER (MAX):
· Twenty (20) Participants per Group.
· One Million Naira Only (N1,000,000.00) Weekly Contribution Only.
· Twenty Million Naira Only (N20,000,000.00) Drawdown Weekly per participant on revolving Lending.
· Number of Weeks: 20.
CORPORATE FINANCIAL INICLUB MEMBER (EXPRESS):
· Twenty (20) Participants per Group.
· Fifty Million Naira Only (N50,000,000.00) Weekly Contribution Only.
· One Billion Million Naira Only (N1,000,000,000.00) Drawdown Weekly per participant on revolving Lending.
· Number of Weeks: 20.
CORPORATE FINANCIAL INICLUB MEMBER (GOLD):
· Twenty (20) Participants per Group.
· Ten Million Naira (N10,000,000.00) Weekly Contribution Only.
· Two Hundred Million Naira Only (N200,000,000.00) Drawdown Weekly per participant on revolving Lending.
· Number of Weeks: 20.
CORPORATE FINANCIAL INICLUB MEMBER (SILVER):
· Twenty (20) Participants per Group.
· Five Million Naira Only (N5,000,000.00) Weekly Contribution Only.
· One Hundred Million Naira Only (N100,000,000.00) Drawdown Weekly per participant on revolving Lending.
· Number of Weeks: 20.
HOW TO PARTICIPATE:
· Apply for Peer-2-Peer Lending participation form for processing and approval by the Executive Council for Noble Lending Club® Grouping.
· Interested Iniclub Individual Financial members are to apply to the CEO, Noble Lending Club® email: [email protected]