bringing opportunities to your doorstep
Products and Services
Grooming Centre ensures the delivery of microloan and microsavings products and services through strategies that enable clients to repay without stress, according to their financial needs. Our products have proved to be cost-reducing and flexible in practice. Beneficiaries of these products have been able to continuously operate their small income generating businesses profitably and gradually uplift their families because every product and service is tailored to their specific needs. For Grooming Centre, the client is Queen.
FINANCIAL SERVICES
LOANS
IFDC LOAN
IFDC LOAN
This loan is structured to meet the needs of agro-input dealers. The disbursement and repayment schedule is designed to follow the pattern or cycle of farming and other related agricultural activities. The loan ranges from NGN250,000 to NGN750,000 and attracts an interest of 14%. The loan is payable over a period of six (6) months.
SMALL LOAN
SMALL LOAN
This product is designed for economically active women to support or create self employment businesses that can improve self reliance and business viability. The first stage of the loan is NGN70,000 and attracts a 15% service charge. The loan and interest are payable in equal instalments over a 23-week [or six (6) months] repayment period with two (2) weeks moratorium. This is the entry loan product of the Centre with a ceiling of NGN200,000.
INDIVIDUAL LOAN
individual LOAN
This loan is structured to meet the individual working capital needs of microentrepreneurs to enable them generate additional income, build assets and become self-reliant on a bigger scale. The loan ranges from NGN200,000 to NGN1,000,000 and attracts an interest of 2.5% per month. Both principal and interest are payable on a monthly basis over a period between 1 to 12 months.
SME LOAN
sme loan
The SME Loan gives clients the opportunity to access larger credit facilities at Small & Medium Enterprise level. The loan amount ranges from N500,000.00 to N5,000,000.00 and has a 2.5% service charge per month. Repayment is flexible and made in equal monthly installments over a maximum of 12 months loan term.
FESTIVAL LOAN
festival LOAN
The Festival loan ranges from NGN40,000 to NGN100,000 and is accessible to every registered client that has successfully graduated to the third stage of the small loan cycle. The Centre no longer restricts the disbursement of the Festival loan to festive or culturally-significant seasons of the year. Now, clients can access the loan to benefit from business opportunities that may occur at anytime during the year.
SOLAR LOAN
solar LOAN
Expanding its scope on green financing and environmental responsibility, the Centre launched the Solar Loan product in August 2017. The product is a collaboration between the Centre and the joint IFC-World Bank Lighting Africa Program, which enables clients access a range of affordable solar lighting products.
GREEN ENERGY LOAN
GREEN ENERGY LOAN
This initiative is designed to create access to funding for large renewable energy projects. With the loan size ranging from N100,000 to N10,000,000, the product is open to both business owners and home owners and has a service charge of 2.25%. Repayment is made monthly over a maximum period of 24 months.
ASSET LOAN
asset loan
This product offers individual loan lending advantages with individual liability. The Asset loan does not take into account group dynamics but an individual’s credit history with the Centre. The Asset loan targets the needs of clients who wish to obtain a tangible asset that can improve the productivity of their business or help them expand into other businesses of their choice. The maximum loan amount is NGN200,000 with an interest rate of 15% spread over ten (10) months.
SAVINGS
MICROSAVING
micro saving
Grooming Centre encourages clients to save for the future, the unexpected or the unplanned. As a wise woman saves enough provide for the upkeep of her family, it is equally important that they should save for the survival and growth of their business. The Centre advocates a minimum voluntary weekly savings instalment payment of NGN150. This savings product yields an annual 4% interest credited to clients’ savings accounts. This product is helping clients to build their own capital over time. Members are free to withdraw their savings at any time.
NON FINANCIAL SERVICES
KNOWLEDGE DEVELOPMENT
micro saving
Grooming Centre encourages clients to save for the future, the unexpected or the unplanned. As a wise woman saves enough provide for the upkeep of her family, it is equally important that they should save for the survival and growth of their business. The Centre advocates a minimum voluntary weekly savings instalment payment of NGN150. This savings product yields an annual 4% interest credited to clients’ savings accounts. This product is helping clients to build their own capital over time. Members are free to withdraw their savings at any time.
FINANCIAL
EDUCATION
micro saving
Grooming Centre encourages clients to save for the future, the unexpected or the unplanned. As a wise woman saves enough provide for the upkeep of her family, it is equally important that they should save for the survival and growth of their business. The Centre advocates a minimum voluntary weekly savings instalment payment of NGN150. This savings product yields an annual 4% interest credited to clients’ savings accounts. This product is helping clients to build their own capital over time. Members are free to withdraw their savings at any time.
MENTORING/ADVISORY
SERVICES
micro saving
Grooming Centre encourages clients to save for the future, the unexpected or the unplanned. As a wise woman saves enough provide for the upkeep of her family, it is equally important that they should save for the survival and growth of their business. The Centre advocates a minimum voluntary weekly savings instalment payment of NGN150. This savings product yields an annual 4% interest credited to clients’ savings accounts. This product is helping clients to build their own capital over time. Members are free to withdraw their savings at any time.