Polaris Bank Limited’s digital bank-VULTe has demonstrated its support for small and medium enterprises (SMEs) by further simplifying the process of accessing not less than four types of loans.
The digital bank has stated that SME entrepreneurs could access over N100 million through several loans to fund their businesses by following few seamless automated steps.
According to the bank, VULTe, which has won several awards for its tech-edge solution, offers individuals and SMEs products and features to improve their banking experience.
Categories of Loans for SMEs and Individuals
Under its term loan, SMEs can access up to N20 million to expand their businesses and spread payment over some 24 months with a competitive interest rate.
Bank Overdraft SME Loans
The bank’s overdraft also allows SMEs to overdraw their account up to N20 million to take care of business emergencies while the auto loan enables individuals and SMEs to purchase cars under amenable terms.
Salary Advance for Salary Earners
Also, the bank’s salary advance allows salary earners to attend to needs that could not wait till payday, structured individually or together at corporate level.
The bank’s Polaris Lite Loans provide access to quick funding to take care of personal needs such as medical bills, school fees and other emergencies that need less time for meeting up.
Benefits of the Loan Offerings
According to the bank, VULTe is available to new and existing customers, the seamless process requires no bank visit to start and complete transactions on VULTe, there is absolutely no collateral needed, no paperwork is needed, convenient to use on all devices while applicants can apply for loans on their mobile devices and get approval in minutes.
How to Apply for VULTe Loans
To get started, follow the 5 simple steps below:
- Click on SME Loan Market Place on the VULTe app or website
- Select loan type and purpose
- Input amount required
- Enter pin to accept provisional offer letter
- Upload all necessary documents