FREQUENTLY ASK QUESTIONS ABOUT BUSINESS FIELDS LOAN LTD

What service does Businessfields offer?

Business Field offers personal loans with just 2% monthly interest rates and a simplified repayment structure to customers.

Do I need to come to your office to apply?

No, your application can be made online via our secure portal. After the application has been made, you will receive a mail from us confirming receipt of your application.

What are the requirements to Apply for the loan after paying the form and processing fee ?

Business name and location
Your details
Next of kin details
Any valid I D Card
and your bank details

How long can I loan money from Business Field Loan Ltd ?

Maximum of 2 years payback duration for every loan less than 2 million
Maximum of 5 years payback duration for every loan above 2 million

Can I extend my loan tenor?

Yes, you can extend an existing facility loan tenor through a Top-up. As an existing customer, you can access a maximum tenor of 12 months.

Can I have more than one loan running at the same time?

No. You can only access one loan at a time, but you can apply for a top up loan after three repayments on your existing loan.

What is a Top up?

A top up is returning/increasing the balances on an existing loan facility. The existing facility will be liquidated in order to process a new loan, as you cannot have two loans running simultaneously. The amount of money receivable (the difference between the New Principal and Unpaid Principal on the Existing Loan) will be communicated and disbursed into your account of choice.

What happen if my loan is not approve after making the form and processing fee ?

Your payment will be refunded, Even though we have rare record of declined loan, all loans are being disburse within a very short time, after submitting the application form.
Besides the form and Processing fee guarantee loans approval
There’s no way you will pay without getting your loan approved into your submitted Bank details

How long will I receive my loan after paying the form and processing fee

You will receive your loan within 10 minutes after submitting the application form

What is the range amount of loan you can give,?

Business Field Loan ranges between the minimum amount of #10,000 and the maximum amount of #5 million

How did I pay back after I have received the loan ?

You can pay back Anyhow or any amount you wish, it depend on the one that suits you most, whether monthly quarterly or yearly, you will select it on the form, the most important aspect of it is that you must pay up everything before your selected time dues.

What is the penalty for defaulting on loan repayment?

The default penalty is 1% on instalment amount for each day of default. If the default passes 30 days, more stringent measures may be applied which may include:

  • Reporting defaulter to his/her contacts
  • Reporting defaulter to Credit Bureau

Are you registered with the CORPORATE AFFAIRS COMMISSION (CAC) ?

Business Field is a legally registered company with LOANFIELD LTD & RC Number: 1106350

My question(s) is/are not among the list

Kindly chat with our agent via our WhatsApp chat, and your question(s) will be answered