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Asset Financing

Explore and Apply Now

Asset Financing is a term loan product designed to help businesses and schools acquire operational or income-generating assets needed for their day-to-day operations. Plug MFB provides this facility secured by the financed asset or other acceptable collateral.

01

Apply Online

Submit a quick loan request form on the Plugbank website — it only takes a few minutes.

02

Get Call Back

Our relationship officer will reach out to understand your needs, walk you through the terms, and request necessary documents.

03

Process Your Request

Once documents and collateral are verified, we disburse directly to the vendor — you receive the asset, and repayment begins.

Security & Insurance

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

Insured in Plug MFB’s name

Tracked and visit-verified

  • Eligibility to Apply

    To apply for a Loan

    • Minimum 12 months in business
    • Business bank statement (6 months)
    • Shop/office ownership or lease agreement
    • Verifiable cash flow and physical inventory
    • Valid ID + Passport photo
    • Purchase invoice for the asset
    • Minimum collateral value: 120–150% of loan amount

  • Loan Terms

    To apply for a Loan

    • Amount: ₦200,000 – ₦10,000,000
    • Tenor: Up to 12 months
    • Interest: 4% flat monthly
    • Fees: 3% one-time
    • Repayment: Monthly (principal + interest)
    • Security: Financed asset + property/stock

Send Your Request &
Get Call Back

Fill all the necessary details and Get call from experts.