The Enugu state SME centre which was set up to drive the state’s enterprise growth, job creation, and spur economic development  is collaborating with Lidya Bank to offer collateral free loans for SMEs.

The loan which is a 30-day cash advance that’s decided based on the recipient’s 3-month bank statement would not require any co-signers or guarantors.

It is to be repaid within 30 days of being received by the applicant and can be renewed every 30 days. Upon timely repayment, the beneficiary can apply for another loan with a longer tenor from Lidya Bank.

The 30-day loan has an interest rate of 3.5%. The amount to be repaid will depend on what’s advised by Lidya.


To qualify for the loan, businesses must:

  1. Have a business operational in Enugu State.
  2. Have a monthly turnover of at least ₦500,000 (proof in bank statement).
  3. Provide the following documents and information; Applicant’s full name, residential and business address, CAC Certificate, Bank Statement for the last months, Tax Identification Number (TIN),Copy of a government-issued photo ID (copy), Copy of a utility bill, Details of next-of-kin (name, relationship, address, phone number).

Application Process

  1. Apply for the Enugu State SME Support Service Loan by clicking here
  2. Fill your details in the application portal
  3. You will be contacted by Lidya for an over-the-phone assessment.
  4. Submit the documents required by Lidya.
  5. Receive the loan if your business qualifies.

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