Our well-defined financial products and services cover all aspects of microfinance banking in Umudike, Umuahia and the environs of Abia State.
MOUAU Inventory Financing Loan:
This offers credit facility for market traders that engage in buying and selling. The essence of this loan is strictly for stock re-financing. Obligor is expected to have a shop either holding a tenancy or ownership title. The loan is repayable in six equal monthly instalments. The business should be capable of generating steady cash inflow.
MOUAU LPO Financing:
This is created to assist contractors in order to execute contract or supply items to designated point. The bank shall request for evidence of contract award/LPO. The borrower is expected to provide 30 to 40% equity contribution of the total cost of contract sum. Contract awarding organization shall be required to irrevocably domicile the contract proceed with us.
MOUAU Salary Advance:
This product offers loans to salary earners in public and private sectors with a strong going concern. It aims at assisting salary earners to solve or address their immediate pressing needs. Borrower is expected to give 33 to 50% of his monthly take home to satisfy monthly repayment
MOUAU Business Extra loan:
This is designed to assist borrowers that do not have immovable collateral to secure loan. Maximum take limit of One Million Naira (N1.00m) provided customer meets minimum monthly average Turn Over exceeding 60% of total exposure. This is applicable to traders. Such an obligor may be required to provide two different capable guarantors as a surrogate to lack of collateral. Consistent cash flow generation is required.
MOUAU School Financing Loan:
This offers credit facility to proprietors of government approved schools in order to meet up with basic needs of the school such as renovation, procurement of school bus, purchase of school uniform, payment of teacher salary etc. The school will be required to domicile the school fees with us.
MOUAU Sharp-sharp Loan:
This offers loan to traders that need spendable cash to meet up with temporary liquidity challenges. The maximum tenor of the loan is 40 days. Customer is expected to make a mandatory daily contribution for a period of ten days following which the loan shall be availed. Interested applicant must have a business that generates daily cash inflow.
MOUAU Shop Rent Loan:
This is put in place to assist business men and women pay their rent. The payment shall be made directly to landlord. This is repayable in six month equal instalment.
MOUAU Consumer Loan:
This is to help both traders and salary earners in buying household items such as television, radio, refrigerator, Air conditioner, laptops, cooking utensil, items alike etc. The tenor is for six months.