Loan Products

  • Julanding Julo – SUPPORTING BUSINESS GROWTH!

    Working Capital needs for entrepreneurs operating Micro businesses who are already customers of Reliance.

    Interest rates

    • 4%

    Loan Term

    • First Loan: 3 Months
    • Subsequent Loans: 6 Months

    Loan Amounts

    • From GMD5,000 – GMD50,000

    Equity

    • 20% of the loan amount

    Customer Contribution

    • No contribution required

    Product Benefits

    • Fast processing and disbursement
    • Easy access to credit
    • Flexible collateral requirements
    • Dedicated Relationship Officer
    • Availability of top up
    • Access to credit life cover
  • Julabaa Julo – SUPPORTING BUSINESS GROWTH

    Working Capital needs for entrepreneurs operating SME businesses

    Interest rates

    • From 2%

    Loan Term

    • First Loan: 6 Months
    • Subsequent Loans: 12 Months

    Loan Amounts

    • From GMD50,001 – GM1,500,000

    Equity

    • From 10% of the loan amount

    Customer Contribution

    • No contribution required

    Product Benefits

    • Fast processing and disbursement
    • Easy access to credit
    • Dedicated Relationship Officer
    • Availability of top ups
    • Discount interest for A rated previous borrowers
    • Business advise
    • Credit life cover
  • Senela Julo (Short Term) – ‘KA SENELALU SEMBENTUNYAA’

    To acquire farm inputs for individuals and groups engaged in small and medium scale horticulture.

    Interest rates

    • From 3%

    Loan Term

    • Farming cycle not exceeding 8 months

    Loan Amounts

    • From GMD5,000 – GM100,000

    Equity

    • From 10% of the loan amount

    Customer Contribution

    • No contribution required

    Product Benefits

    • Fast processing and disbursement
    • Easy access to credit
    • Dedicated Relationship Officer
    • Technical Advice from partners.
    • Training on financial literacy
    • Provides links for marketing of farm produce
    • Credit life cover

  • Senela Julo (Long Term) - ‘KA SENELALU SEMBENTUNYAA’

    To acquire farming fixed assets for individuals and groups engaged in small and medium scale horticulture

    Interest rates

    • 1.5%

    Loan Term

    • Loan : Subject to amount - Up to 24 Months

    Loan Amounts

    • Maximum Amount: GMD1,000,000

    Equity

    • From 5% of the loan amount

    Customer Contribution

    • 20% of the Asset value

    Product Benefits

    • Fast processing and disbursement
    • Easy access to credit
    • Dedicated Relationship Officer
    • Technical Advice from partners.
    • Training (Technical & Financial Literacy)
    • Marketing of farm produce (as part of RFS–CU or other partnerships)
    • Credit life
    • Availability of After Sales Support

  • Senela Kafo - ‘KA SENELALU SEMBENTUNYAA’

    To acquire farm inputs for Group Farmers small or medium scale in non-rain fed farming

    Interest rates

    • From 3%

    Loan Term

    • Farming cycle not exceeding 8 months

    Loan Amounts

    • From GMD5,000 – GM50,000

    Equity

    • From 10% of the loan amount

    Customer Contribution

    • No contribution required

    Product Benefits

    • Fast processing and disbursement
    • Easy access to credit
    • Dedicated Relationship Officer
    • Technical Advice from partners.
    • Training on Financial Literacy
    • Marketing of farm produce
    • Credit life
  • LPO Financing – SUPPORTING BUSINESS GROWTH!

    INTRODUCING LOCAL PURCHASE ORDER (LPO) / CONTRACT FINANCING PRODUCT

    Reliance Financial Services on the 15th of December 2013 launched the newly developed LPO / Contract Financing Product as part of its new suite of products and service offerings to the general public. The product is geared towards helping individuals and organizations finance their LPO and Contract Financing needs.

    PRODUCT FEATURES:

    Interest Rates:

    • 5% per month between 5,000 to 50,000
    • 4% per month between 50,001 to 300,000
    • 3% per month between 300,001
    • Admin Fee: between 3-5% plus VAT (Payable on demand): (Admin – Loan application and credit evaluation)

    Loan Term:

    • As per the LPO specifications (not exceeding 3 months)

    Mode of Repayment:

    • Direct Debit from customer account

    Frequency of repayment:

    • Monthly

    Mode of Loan Disbursement:

    • Direct credit to an approved supplier wherever possible

    Loan Amounts:

    • 70% of invoice amount

    Equity:

    • 10% of the loan amount if new to RFS

    Customer Contribution:

    • 30%
    PRODUCT BENEFITS:
    • Fast processing and disbursement
    • Easy access to credit
    • Dedicated Relationship Manager
    • Access to Credit Life
    ELIGIBILITY:
    • Any nationality (Non Gambians to have valid immigration status)
    • Individual must have a valid registration with GPPA and possess a valid certificate
    • Period of Banking history with Reliance – Nil (provided that the customer provides bank statements from other banks (12 months)
    • The borrower should be in business for a period of minimum 2 years
    • The Company raising the LPO should be in the approved authorized list of RFS
    • The Company raising the LPO should be in the approved authorized list of GPPA
  • SME Fixed Asset Financing – ASSETS FOR BUSINESS GROWTH!

    To acquire business assets

    Interest rates

    • From 1.5 %

    Loan Term

    • Maximum tenor of 24 months

    Loan Amounts

    • Subject to asset value – up to GMD1,500,000

    Equity

    • Up to 5% of the loan amount

    Customer Contribution

    • 30%

    Product Benefits

    • Fast processing and disbursement
    • Easy access to credit
    • Dedicated Relationship Officer
    • Competitive cost of borrowing
    • Business advise
    • Credit life
  • Salary Advance Loan – PROVIDING FOR CUSTOMER NEEDS!

    To assist employed individuals to finance personal needs such as acquisition of household assets, utility bills, school fees etc

    Interest rates

    • From 1.67%

    Loan Term

    • From 12 – 24 months

    Loan Amounts

    • Maximum Amount GMD100,000

    Equity

    • No equity required

    Customer Contribution

    • No contribution required

    Product Benefits

    • Fast processing and disbursement
    • Easy access to credit
    • Dedicated Relationship Officer
    • Availability of top ups
    • Access to quick emergency loan (PDL)
    • Credit life