The Nigerian Bar Association (NBA) has rolled out the requirements for eligibility for members to access finance.
According to a statement sighted by Lawhauz, eligible members must strictly follow requirements set by the association.
Dear Colleague,
We acknowledge your calls for enquires with reference to the NBA ACCESS TO FINANCE SCHEME.
To be eligible for the scheme, the following requirements MUST be strictly complied with:
1. Obtain a LETTER OF GOOD Standing from your Branch
2. Apply by email to accessfinance@nigerianbar.org.ng for a LETTER OF LOAN ELIGIBILITY to access the fund. Your application is to be accompanied by the LETTER OF GOOD STANDING obtained from your Branch, a scanned copy of your Call to Bar Certificate, evidence of payment of your Bar Practicing Fee (BPF) and Branch Dues for three (3) years i.e., the year of application and the two (2) years preceding.
3. Upon issuance of the LETTER OF ELIGIBLITY by the NBA, the NBA will provide the loan documents (as provided by the Bank).
4. Complete the relevant forms (loan document) and submit to the Bank for processing.
5. The Bank will reconfirm the genuineness and eligibility of the applicant with the NBA before the request is processed.
6. The Applicant shall provide the relevant KYC documents as required by the Bank on its check list for processing.
7. Upon provision of the relevant KYC documents, the Bank shall review the document to determine the credit history of the Applicant and also establish the amount the Applicant can borrow subject to a maximum borrowing amount of Two Million Naira only (N2,000,000.00) for each member.
8. Each qualified member will sign an offer letter and other relevant documentation with respect to the loan documents as determined by the Bank.
9. Upon fulfilment of the foregoing, the Loan shall be disbursed.
Kindly comply by sending your application letter requesting for an issuance of aLETTER OF LOAN ELIGIBILITY attached with a LETTER OF GOOD STANDING and other documents as listed in 2 above to enable us attend to your application.
Thank you.
ACCESS to FINANCE Team