How It Works - Web Mind Initiative Multipurpose

Business Consulting

Web-Mind Initiative have a group of skillful consultants in business world, they look critically into business plans, make analysis and genuinely make recommendations.

We help entrepreneurs differentiate their principal from interest as it is mostly common culture of SME’s to encroach into their principal gradually until they finally crumble the business.

We also give financial tips on how to withstand harsh economic conditions due to government policies, inflations, fluctuation in exchange rate and so on.

We encourage members to learn the habit of savings for precautionary purposes or even specific purposes which will be a driving force for a business boost.

INTEGRITY SOFTLOAN

Recommended for Entrepreneurs with workable business ideas but no startup capital, no collateral and no guarantor.

Register with the sum of N5,000 to obtain 1 share per Capita Unit
Encourage 5 other people to register as financial members
Access loan of N50,000 on 10% Simple interest rate to be paid within 3 – 5 months.

CORPORATE LOAN

Recommended for Business owners, Employees with Public and Private Sector, Corpers, Contractors etc.

Register with the sum of N5,000 to obtain 1 share per Capita Unit
Make a consistent savings for a least 3 consecutive months without defaulting.
Access 100% loan of your financial savings to be paid back in 3 months on 5% interest rate.

SPECIAL LOAN

Open for both financial members and Non-financial members

Apply for loan facility
Bring a guarantor (Most recommended a member of the cooperative Society).
Sign our Indemnity form.
Carryout a proper KYC/AVR on customer
Access Collateral facility.
Get loan facilities as recommended by WMI management.
Pay back loan in 3 months on

10% simple Interest rate for financial members
10% compound interest rate for non-financial members

What kind of Documents needed to bind the contract?

Doing business with us requires some basic documents
Filling our registration form and signing the attestation.
Providing at least one valid means of identification
Filling KYC/AVR form.
Providing Guarantors for members taking loan facilities.
Signing Indemnity form, for members with Collateral.
Binding agreement with a memorandum of understanding between our Society and other party (ies).

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