x
P L U G B A N K

info@plugmfbank.com

Find Nearest Branch
Search

Updates:

Grow Your Money Daily, Earn Up to 6% p.a on Savings with PlugBank.

More Details

Bank with confidence. Save with purpose.

logo

Working Capital

Explore and Apply Now

A short-term loan (up to 12 months) designed to support daily operations — purchase inventory, pay rent, cover payroll, or restock goods. Whether you're running a store, pharmacy, supermarket, or distribution outlet, Plug MFB helps you stay liquid and in control.

01

Apply Online

Fill out a short application form on the Plugbank website to tell us about your business.

02

Get Call Back

A Plug Relationship Manager will contact you to assess your needs and request documentation.

03

Process Your Request

After validation and collateral verification, funds are disbursed directly to you or your stock vendor — and you’re good to go.

Security & Insurance

We secure your loan with the financed asset itself. All assets must be

Stock Hypothecation

We take charge of your inventory or shop

Insurance

Comprehensive insurance may apply where necessary.

Personal Guarantee

Required for all facility promoters.

Monitoring

Plug MFB maintains periodic checks on your business.

  • Who Can Apply?

    To apply for a Loan

    • Traders & Retailers dealing in fast-moving consumer goods (FMCGs)
    • Supermarkets, Restaurants, Pharmacies
    • Small businesses with consistent daily sales
    • Businesses operating for 12 months or more
    • Owners of or tenants in a verifiable shop location

  • Eligibility to Apply

    To apply for a Loan

    • Valid ID + Passport photo
    • Completed loan application form
    • 6 months of bank statements
    • Proof of business/shop ownership or rental receipt
    • Inventory list or proforma invoice
    • Collateral valued at 120–150% of loan amount
    • Guarantor (where required)
    • Utility bill + 3 post-dated cheques

  • Loan Terms

    To apply for a Loan

    • Loan Type: Term Loan – Working Capital
    • Amount: ₦100,000 – ₦10,000,000
    • Tenor: Up to 12 months (6 months for first-time borrowers)
    • Interest: 4% flat monthly
    • Fees: 3% one-time
    • Repayment: Monthly (principal + interest)
    • Collateral: Shop/stock/inventory or property
    • Security Margin: Minimum 120% collateral coverage

Send Your Request &
Get Call Back

Fill all the necessary details and Get call from experts.