Esusu Contribution

Esusu Contribution is a form of microfinance savings, where you pool periodic (e.g. daily, weekly) cash contributions with other people, in which you all take ‘turn’ to receive the pot without the need to pay interest.

This system have been around for generations in different cultures, it is called adashe in Hausa, ajo in Yoruba and esusu in Igbo. It also go by many names in  such as Rotating savings, Savings Club and many others.

It is also widespread in Africa and its known as Nago in Ivory Coast, Yesyes in Togo and Susu in Ghana.

ESUSU Loan

This is a short-term daily contribution loan designed for traders with daily sales income.

Requirements for Esusu Loan

• Customer must be a trader or somebody that earns money daily or weekly.
• Loan amount must not exceed N100,000 with maximum daily contribution of N5,000.
• The applicant must have a shop where he/she carry on his /her business.
• The loan officer must ascertain that customer’s tenancy is validated and rent paid up to date.
• The agreed amount must be contributed for at least ten (10) days before requesting for loan.
• The customer can take double of what he/she has contributed for a maximum tenor of 30 days.
• Repayment of all Esusu loan must be on daily basis, hence the loan officer must ensure close monitoring.
• Any Esusu customer who defaulted in three days payment will not be eligible for renewal even after paying the outstanding sum.
• Loan officer must ensure proper verification of customer and guarantor’s addresses before recommending the loan for approval.

To Apply for the Esusu Loan, Call 07081051231 or Send us a Whatsapp Message