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FAQ


What do I need to qualify for a Loan ?
Completed account opening form
Dully completed loan application form
Availability of guarantor
Availability of evidence of repayment and or 6 months’ bank statement
Post-dated cheques
How do I apply?
Online at www.PecanTrustbank.com
Visit our office at No 32, Grace Anjous Drive, Lekki Phase 1, Lekki, Lagos
How much can I borrow?
You can borrow up to 33.3% of your TOTAL income
What is the repayment plan?
Weekly, bi-weekly, monthly as suitable for your business
What is the maximum loan tenor?
The maximum tenor is six (6) months i.e. 180 days
Does PecanTrust require a credit check?
Yes, this forms a major part of our loan review, we use it to verify information provided in your loan application form
How can I repay my loan?
Cheques: The cheques deposited as part of your loan documentation will be presented to your Bank on due date

Cash: Payments lodged directly at our office at No 32, Grace Anjous Drive, Lekki Phase 1, Lekki, Lagos and/or our correspondent banks

DDM: Direct Debit Mandate

Online: Make online transfers to your accounts with PecanTrust
Do I have to be in paid-employment to get a loan?
We have different loan packages to suit customers in paid employment and SMEs
Can I have multiple loans?
You cannot apply for more than one loan at the point of your application, but you can apply for a top up loan after making one third installments on your current loan.
What is a Top-up?
A top up loan is an additional loan request that is added to your existing loan.
Can I pay down the loan before maturity?
Yes, you can pay down/liquidate your existing facility at any time
What do you mean by equity contribution?
Equity contribution refers to the part of the purchase value of the property the borrower must provide. It is currently a minimum of 20% of the value of the property being purchased.
What is your loan rate?
Our loan rate is negotiable and highly competitive
Is your interest a flat rate or on a reducing balance?
Our interest rate is on a reducing balance
What does a Direct Debit Mandate mean?
It is a convenient way of making your payment without having your cheque presented for loan repayment. The DDM is set up with your Debit MasterCard or Visa Card at the point of initiating a Loan. Your account will be debited automatically on agreed date for payment.