Internal, Not to be shared with Customers

Quick Credit for Business Product Products and Promotions Group

September 2021 1
 Product Description
GTBank Quick Credit for Business product is a time-loan
designed to bridge the working capital needs of Micro, Small
and Medium businesses.
S/N Eligible Sectors Eligible Segments
1 Trade Supermarkets and retail stores, key distributors of FMCGs, spare parts stores,
filling stations, Auto Spare Parts, Printing materials, chemical sales

2 Services Professional firms, Delivery services, interior decorators, educational

consultants/services, Printing,

3 HealthCare Hospitals, Laboratory &Diagnostics centers, Pharmacies, Medical suppliers

4 Education Creche/day care, Primary, Secondary, Vocational schools

5 Food Restaurants, bars, Food & drinks suppliers, fast food chains, Food packaging
& processors, Grocery and specialty food retailers, confectionaries, Lounges

Logistics, Clearing and forwarding, Fashion, HR consulting, Entertainment , Travels and Tours ,
Excluded Sectors
Agriculture, financial Services, jewelry dealers, car dealers and other businesses not captured
2 above.
Internal, Not to be shared with Customers
3
 Product Features
FEATURES Hospitals/Diagnostics/Labs Trade & Services/Pharmacies Education
Required Eligible Accounts Individual and Corporate Accounts (Eligible Individual accountholders must open a corporate accounts for cashflow disbursements)
Interest rate 18% p.a. (1.5% per month)
Maximum Tenor 12months 6months 12months
Min & Max Loan Amount N250,000 – N10million
• Monthly repayment
Equal monthly repayment of principal and interest
• Termly principal repayment
Repayment Structure Amortized monthly repayment consisting principal and interest portion
(January, May and September)
and monthly interest payment

S/N Eligibility Class Minimium Lodgment Required * Age With Bank Max. Loan Amount
ML ≥20% of AMT calculated over 12months. 12months 50% of AT last 12 months subject to N10million
1 Risk Rating 1
Formula: (Sum of last 12 months’ turnovers)/12 *0.2
2 ML ≥20% of AMT calculated over 10months. 10months 50% of AT last 10 months subject to N5million
Risk rating 2
Formula: (Sum of last 10 months’ turnovers)/10 *0.2

3 ML ≥20% of AMT calculated over 6 months. 6months

Risk Rating 3 50% of AT last 6 months subject to N3million
Formula: (Sum of last 6 months’ turnovers)/6 *0.2

ML- Monthly Lodgments *Automatic prequalification where minimum monthly lodgement is equal
Legend AMT – Average Monthly Turnovers or greater than N5million (subject to fulfillment of other criteria)
AT- Annual Turnovers 4
Internal, Not to be shared with Customers
 Operational Dynamics for Profiling for Individuals Accounts
01
Identification & Tracking
• System tracks customers personal
account
• Customer opens a
Corporate/Business Account, BVN is
linked to the personal and corporate
Internal, Not to be shared with Customers
02
Assessment & Prequalification
• System assess transactions
(lodgment and turnovers) on
personal account based on existing
business rules to determine
eligibility (see page 4)
• System automatically prequalify
corporate account for eligible
amount . (Customer cannot access
the loan amount)
04
03 Disbursement
Approval
• Upon DH approval on PM,
customer is whitelisted on pre-
qualification table.
• Account officer conducts due-
• Customer applies for loan via
diligence on customer and
complies with economic sector
codes
GAPS and fund is disbursed in
corporate account immediately
• Ensure Corporate account is
opened
• Raises whitelist request on
Processmaker which is routed to
RM and DH for approval
5
 Approved Economic Sector
Sector DESCRIPTION Code
Services Constr: Civil Engineering 53
Constr: Specialized Construction Activities 54
Utility: Water Collection, Treatment & Supply 59
Utility: Sewerage 60
Utility: Waste Collection & Disposal 61
Prof: Scientific Research & Development 82
Transp & Stor: Road Transport 86
Transp & Stor: Warehousing 89
Info & Comm: Printing & Publishing 91
Info & Comm: Programing & Broadcasting Activities 109
Prof: Professional Accounting/Audit Firms/Tax Consultants 110
Prof: Legal Practitioners, Notaries 111
Prof: Management Consultancy Activities 112
Prof: Architectural & Engineering Activities 113
Prof: Estate Surveyors, Valuer 115
Adm & Supp Serv: Rental, Leasing Activities 117
Adm & Supp Serv: Employment Activities 118
Adm & Supp Serv: Travel Agent, Tour Operators, Reservation Services & Related Activities 119
Adm & Supp Serv: Services To Buildings 122
Adm & Supp Serv: Office Administrative, Support & Other Support Activities 123
Education: Educational Support Services 128
Trade Gen Comm: Export Non-Agricultural 71
Gen Comm: Automotive Parts 72
Gen Comm: Chemicals & Allied Products 74
Gen Comm: Trading (Rice) 75
Gen Comm: Generator Set (Sales & Service) 76
Gen Comm: Other Imports 79
Gen Comm: Domestic Trade/Cash Intensive Business 80
Info & Comm: Computer Sales/Programming & Computer 93
Oil & Gas: Downstream 11
Gen Comm: Furniture Sales 162
General Retail: Others 144
GEN COMM: Food Processing, Packaging, Confectionaries 81
EDUCATION Education: Pre Pry & Pry Education 124
Education: Post Primary Education 125
HEALTHCARE Health & Social: Hospitals 129
Health & Social: Clinics 130 6
Gen Comm: Pharmaceutical Store 165
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