Covenant Capital Business Loans powered by The Covenant Nation

The Covenant Nation provides interest-free business loans to her members only.

NanoCredit Loans from N10,000 (ten thousand Naira) to N50,000.00 (fifty thousand Naira) and MicroCredit Loans N100,000.00 (One Hundred Thousand naira) to N500,000.00 (Five Hundred Thousand Naira) are available on interest-free for business purposes.

Yes! Interest-free and no administrative charges.

Terms and Conditions

The following terms and conditions apply;

  • Applicant must be a member of The Covenant Nation (TCN), for at least six (6) months
  • Must have an existing business and a viable business opportunity to which the funds will be applied, business purposes only
  • Submission of a copy of applicant’s valid means of identification (i.e. International Passport, Permanent Voter’s Card, National Identification Card, Drivers’ License)
  • Submit Applicant’s Six (6) months Bank Statement, Savings or Current account with a recognized Commercial or Microfinance Bank in Nigeria.
  • Applicant to submit One (1) passport photograph
  • Applicant to submit Utility Bill (PHCN, LWC, Bill, LAWMA e.t.c.)
  • A well-articulated Business case Summary
  • Two (2) completed guarantors’ form for loans of N100,000 to N500,000.00
  • One (1) completed guarantor’s form for loans of N50,000 or less.
  • Submit Guarantors’ Six (6) month’s Bank Statement showing repayment capacity and healthy cashflow; for loans of N100,000 to N500,000
  • Submit Guarantors’ three (3) month’s Bank Statement showing repayment capacity and healthy cashflow; for loans of N50,000 or less.
  • Submit a copy of Guarantors’ Valid means of Identification and Utility bill.
  • Guarantor(s) to submit One (1) passport photograph
  • In exceptional cases, a Guarantor may be required in the person of a Cell leader, Unit Head, or Minister in The Covenant Nation to guarantee the loan, assuming responsibility for any default.

  • Kindly also note that:
    1. Maximum loan term is six (6) months
    2. Loan is payable typically in monthly installment from the first 30 days
    3. If loan is approved, guarantors will be required to issue undated cheques for the full capacity amount as “collateral”.
    4. Applicant would require cheque clearing-enabled accounts in order to pay in cheque if approved;
    5. Guarantors cheque must be issued from a Current account, same account used from guarantors statement.
    6. If guarantors’ business accounts are used, documents that proof their right to use account should be provided. e.g. photocopy of Form CAC 7.