Maxi General Funds

Advance, term loans and overdrafts: - provision of loans to micro finance clients for home improvement and consumer credits. Invoice discounting facility and LPO/contract financing from “A” rated multinational companies.

Consortium lending: arrangement of consortium lending and supervision of credit schemes to ensure access of micro finance customers to inputs for their economic activities.

Mobilization and provision of financial and technical assistance and training to micro-enterprises.

Performance of non-banking functions that relate to micro finance related business development services such as co-operatives and group formation activity, rural industrialization and other support services needed by micro enterprises.

Maxi Empowerment/Business Start-Up Financing:
With a 30% deposit of the total start up cost of a new business venture,
Maxitrust MFB will provide the other 70% to start the business. The customer will however provide a guarantor for the 70% provided by the bank

This product is for those who wish to take their business to the next level. This product is to encourage small business people grow their business. We grant short and medium term loans to small business outfits.

On- Lenders to Corporate Bodies and Government Agencies.
This service we render to corporate bodies and government agencies as it relates to poverty alleviation and sustainable development.

Financial Advisory services: - provision of professional advice to poor persons or the low income group regarding investment in small businesses, rendering managerial, marketing, technical and administrative advice to customers and assisting them in obtaining services in such field.

Asset Acquisition Loan: - for those who want to acquire assets like vehicle, okada motorcycles, electronics equipments, house, etc for themselves. The customer is expected to save up to 30% of the asset value and the bank will provide the other 70%. The asset will have an insurance cover through out the repayment period.

Micro Finance Scheme:
We encourage investment in cottage industries and income generating projects for the economically active poor persons as prescribed by CBN.  We also provide services to hedge various risk relating to micro finance activities. the repayment period.  We package this in form of Hire purchase and Lease agreement.

Maxi Salary Advances
Workers in establishments can approach our bank for soft loans to meet their pressing needs in view of their on coming salaries. Our interest rate is impressive and the response time is equally fast.

Property Management
We undertake property management for our esteemed customers. Our services in this respect are very impressive.

OPERATIONAL DYNAMIC OF THE PROGRAMME

MAXITRUST CREDIT LENDING MODELS
Maxitrust Microfinance Bank Ltd will apply its credit lending models to properly disburse and monitor these for effective recovery thereby ensuring zero to minimal default experience.
We are proposing two options (i.e. Option A & B) for the management of the Ministry sustainable development Project.

OPTION A

• All selected beneficiaries are expected to open account with the bank through which the fund will be disbursed.
• Government will propose the interest rate to be charged which should be low
• Retention of 10% of the loan amount as seed deposit in the beneficiaries account with MAXITRUST MICROFINANCE BANK LTD
• MINISTRY OF SUSTAINABLE DEVELOPMENT to pay 15% of  total loan volume to be disbursed as management fee to MAXITRUST MICROFINANCE BANK LTD
• MAXITRUST MICROFINANCE to monitor and recover in full all loan disbursed.
• Ministry of sustainable development to guarantee all nominated beneficiaries, although individual guarantor will be provided by all borrowers
• Loan amount to be determined by the type of business as agreed Ministry of sustainable development.
• Loan duration to be determined by type of business as agreed by ministry of sustainable development
• Purpose of the loan should be strictly for commercial purposes and not Agric related.
• Programme duration should be minimum of one year (1 Year)
• Quarterly reporting of programmes performance to Ministry of sustainable development
• Recommended state award programme for performing beneficiaries
• Loan types should be for – new business start up, business expansion by individuals, peer groups and or cooperatives

OPTION B

• All selected beneficiaries expected to open an account with the bank through which the fund will be disbursed.
• Agreed interest rate lower than the prevailing market rate.
• Ministry of Sustainable development to provide an agreed percentage of total fund as take-off grant cover for logistics reporting and management to MAXITRUST MICROFINANCE BANK LTD.
• Retention of 10% of the loan amount as agreed deposit in the beneficiaries account MAXITRUST MICROFINACE BANK LTD.
• MAXITRUST MICROFINACE BANK LTD to screen all nominated beneficiaries by Ministry of sustainable development.
• MAXITRUST MICROFINANCE BANK LTD to request guarantors from all beneficiaries as the last option for loan repayment in case of default.
• MAXITRUST MICROFINACE BANK LTD to take full responsibility of 100% of loan repayment.
• All accrued interest on loan to go MAXITRUST BANK LTD.
• Loan amount to be determine by type of business as agreed by Ministry of sustainable development
• Loan duration also to be determined by type of business as agreed by Ministry of Commerce
• Purpose of the loan should be strictly for commercial purposes and not for sustenance basis.
• Programme duration should be for a minimum of one year (1 Year)
• Quarterly reporting of programme performance to ministry of sustainable development
• Recommend state award programme for performing beneficiaries
• Loan types should be for – new business start up, business expansion by individuals, peer groups or cooperatives.