At Oze, we understand business owners need to take a loan for several reasons and have created two loan products to cater for most of them; ensuring every business can have access to the funds they need for expansion.
Oze loan products:
– Oze Cash Now: For business owners who need a loan to execute a project that will be paid for after completion.
– Oze SME Loan: For business owners who sell products/services
Oze Cash Now Loan
This loan is offered to business owners that need funds to execute a project that will be paid for after completion. These projects are typically initially executed with funds from the entrepreneur. However, there must be a contract that states payment will be made after the project is completed.
For example; a business owner that is into property renovation i.e painting and has been commissioned to paint an office space with a contract that clearly states that payment will be made after completion of the project.
In most cases, a need for a loan arises when the business owner has exhausted personal/business funds on the project to a certain level and needs funds to complete it.
Eligibility Criteria:
For a business to qualify for the Oze Cash Now Loan, they need to meet the following criteria:
– Record 10 sales or expenses in a month
– Link their bank account (Watch the video on how to link your account here)
– Upload a bank or mobile money statement from the last 3 months. (i.e if you plan to apply in August, upload a statement that covers July, June and May).
– Show evidence that they have been working on the project and have self-financed it to a particular stage.
– Present the project contract.
Applying for the Oze Cash Now Loan:
Business owners can apply for the Oze Cash Now Loan directly from their Oze Business App.
Once they complete the application and meet all the requirements, a member of the Oze loan team will reach out to discuss their loan application and make them an offer.
It is important to note that priority is given to those who have filled out the loan application, recorded transactions and uploaded their statement.
The interest rate offered is between 3-5 and you can repay back between 6-12 months.
Oze SME Loan
Oze SME loan is for business owners that need a loan for their business. It might be for rent, inventory or to buy a new equipment.
For example; If a business owner sells drinks and wants to restock a larger volume than usual. The Oze small business is ideal for this.
Eligibility Criteria:
– Record 10 sales or expenses in a month
– Link their bank account (Watch the video on how to link your account)
– Upload a bank or mobile money statement from the last 3 months. (i.e if you plan to apply in August, upload a statement that covers July, June and May).
Applying for the Oze SME Loan:
Business owners can apply for the Oze SME Loan directly from their Oze Business App.
Once they complete the application and meet all the requirements, a member of the Oze loan team will reach out to discuss their loan application and make them an offer.
It is important to note that priority is given to those who have filled out the loan application, recorded transactions and uploaded their statement.
The interest rate offered is between 3-5 and you can repay back between 6-12 months.
If you need more information, feel free to chat with our support team in Ghana (+233 54 575 0476) or Nigeria (+234 913 000 0118).
You can also send an email to coach@getoze.com.