loan application letter in nigeria

How to Write a Loan Application Letter in Nigeria

Do you find it difficult to write a loan application letter or you are clueless about how to go about the process?

No need to fret, you have come to the right page for a solution.

It is not surprising that a lot of Nigerians apply for loans in various financial organisations ranging from commercial banks, and microfinance banks, and that online loan apps are on the increase in Nigeria. 

Due to the current economic hardship coupled with debts incurred by some Nigerians, to settle their debts, they simply look forward to applying for a loan as a solution to their problems.

Nigerians apply for loans for different reasons and purposes. Some for their businesses, education, to pay off debt while some apply for loans to “japa”.

If you’re looking to apply for a loan here in Nigeria, in simple steps, I’ll guide and put you through how to write a loan application letter in Nigeria. 

Table of Contents

Applying For a Loan in Nigeria

Firstly, you need to have a plan, ask yourself the question “what do I need this money for?”

Will the business you’re planning to venture into be productive enough to pay back the loan you’re applying for in the bank?

If you don’t have a plan, at the end of the day, when you write the application for a loan, you often find it difficult to pay back the loan.

This is why some of these loan sharks make public the loan defaulters personal details on social media platforms creating public embarrassment to the defaulters and the people close to them.

Steps in Applying for a Loan  

The major thing you should look out for as you’re about to apply for a loan in Nigeria is the financial institution you want to go for.

Put in mind their interest rates, the loan duration (how long will it take for you to pay off?). 

Read properly the T&Cs, and read it line by line before you append your signature. 

Lots of Nigerians applying for loans make the mistake of not going through the terms and conditions thoroughly, you definitely don’t want to make this mistake to avoid “had I known?”

Don’t be too eager, I repeat, don’t be too eager.

Just recently someone told me something I want you to pick from, she said “one of the policies in giving loans is not to give a loan to a customer that is too eager, the one who never lets you rest”.

Read also: How to get loans without a salary account or collateral.

How to Write a Loan Application Letter

Writing a loan application letter in Nigeria is quite simple as you can refer to the letters you wrote while in school. 

Your loan application letter should be well detailed and concise, not verbose.

There are two things to consider here, are you applying for personal use or for your company?

If it is a personal loan, it is simple, all you have to do is to walk into any bank of your choice to make some findings.

Make sure you get a clean sheet of paper (A4 Paper), your identity card (work id is included), a letter of introduction from your working place if you’re an employee of an organisation.

I’ll list out in bullet points what should be included in your loan application letter so you won’t make any mistakes or leave any information out of your loan application letter.

NOTE: You’re writing a formal letter, not an informal letter.

• The bank’s address (include the branch manager if you’re addressing the letter to him/her. This should be on the left side of your A4 paper.
• Your address should be on the right side of your letter.
• Under the address to the bank, “Dear Ma/Sir” should be written.
• Heading: You should provide heading to your loan application letter. See more details in the samples below.
• Body of your letter: You should explain in detail the reason and the duration.

Read also: Top banks in Nigeria for entrepreneurs. 

Samples of a Loan Application Letter

Below are samples of loan application letters for an individual/personal use:

To the Branch Manager,

United Bank for Africa,

Lebanon Dugbe,

23rd April 2009.

40,  Boladuro Street,

Challenge Ibadan,

Dear Ma/Sir,

               LOAN REQUEST

  I (your name), with the account number (×××××××××) wish to request for a loan in your business office. 

    I look forward to hearing from you soon.

Thanks in advance.

Yours faithfully,

(Signature)

(Phone number).

Applying for a loan in the name of your company? Ensure you have a great turnover with the bank to get a good loan.

The letter for loan application should be on your company’s letterhead. You can’t apply for a loan in Nigeria as a company on a plain sheet of paper. 

        XYZ CONSULTING FIRM LTD.

            +234***********, 40 Boladuro Street Challenge Ibadan. Oyo State.

 To the Branch Manager,

No 40 Boladuro Street,

    Dear Sir/Ma, 

  Our company (name), with the account number (×××××××××) wishes to request for a loan in your business office to get some equipment for our business.

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Applying For a Loan on Your Mobile Phone

Do you know you can pick up your phone and apply for that loan you’ve been searching for? 

Simply visit the Play Store/Apple store app, there are lots of applications offering loan services. 

From Okash to New Credit, Fairmoney, 9ja Cash, Soko Loan and a host of others. 

It is not surprising that some Nigerians prefer to apply for a loan using these mobile applications than walking into the bank.

Everyone wants comfort and a very easy experience. 

Once you download the application of your choice, you click on the register button (all your information would be recorded together with your bank verification number).

While some Nigerians don’t like to apply for a loan from these Loan apps, due to the embarrassment/disgrace they put people  through if they fail to make payment after the payback day, some apply for the loan and pay back in due time. 

Read also: Top 10 best loan apps in Nigeria. 

  Conclusion

 I hope you’ve learnt a thing or two from this article on how to write a loan application letter in Nigeria. 

Whenever you’re in a fix or there’s something really urgent you need money to settle, you can simply visit any bank branch to make enquiries on the type of loan product they have to offer, or make use of online apps.

If you found this useful, subscribe to our newsletter for more insightful posts. 

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Give her books and you've made her day. Ajani Angela is a graduate of History and International Studies from Bowen University, currently pursuing her Masters Degree in Peace and Conflict Studies at the University of Ibadan. Angela loves to read and meet new people. Her interests are not limited to just education; she also loves to offer advice to people going through a lot. Angela loves to hear from readers. You can email her at [email protected] .

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Best 8 Format for Loan Application Letter in Nigeria

A loan application letter in Nigeria stands out when you attach an application letter outlining your interest in the organization as well as your qualifications, experience, and talents.

The letter also should demonstrates to the lender why you are the best candidate for the loan.

If you looking for the best format for your loan application letter as well as what to include, then you have found a perfect guide.

Let’s show you how to write the best loan application letter in Nigeria

What is a Loan Application Letter

This is a detailed letter explaining your aims and the reasons behind your loan request addressed to a possible employer or a company.

The loan application letter presents you as a unique personality, showcasing your accomplishments and abilities in an effort to catch the hiring manager’s or application reviewer’s eye.

This letter should grab the manager’s interest enough to prompt him to ask for an interview with you by highlighting your essential credentials for the loan.

The loan application letter, can make or break your chances of getting a loan. A compelling credit application letter ought to just be one page long and contain six or less passages.

What to Include in Your Loan Application Letter For Business

The letter should persuade the financial lender to approve your loan application by emphasizing critical details about your company’s financial history and current state.

You must be careful with how you structure your loan application letter, what you include in it, and the tone you use throughout because banks use the loan application letter to percieve borrowers and their creditworthiness.

Salutation and Heading

A header and greeting section are essential components of a strong loan application letter. The header of the letter will include the applicant’s name,

address, and phone number, the date, the recipient’s name, address, and phone number, as well as a formal salutation addressed to the recipient.

The information you should include in this section is your name, the name of your company, your business address, your business mobile phone number, the receiver’s name, title, and contact information,

including their physical addresses, as well as a clear subject line that states the purpose of the letter and the precise amount of money you are asking the potential lender for.

Acknowledge The Right Authority

Any correspondence must be addressed to the appropriate person. It is highly important since it marks the beginning of a formal engagement,

and you want this to get off on the proper approach. Always try to determine to whom the application must be filed and be sure to address it.

You can use a more general salutation, such as Dear Loan officer, Manager, etc. if you are unable to identify the loaning officer’s or agent’s name.

Give a Brief Summary

Briefly state the aim of the letter and the amount you are requesting from the potential lender at the start of the loan application letter.

Additionally, you should briefly describe your firm, how the money will be used, and your creditworthiness in this part.

When composing this part, think about excluding everything except the most important information to direct the reader to the letter’s body.

Include Your Business Details

Give the crucial information about your firm in the first body paragraph of your loan application letter. The specific business structure (such as a sole proprietorship, partnership, limited liability company, etc.)

of your company, its legal name, how long it has been in operation, the number of employees it has at present, if any, as well as its annual revenue and profit, are all things you should include in this section.

State The Purpose of The Loan

Describe the loan’s purpose and intended use in the second body paragraph of your letter of loan application.

You must be as explicit as you can in this section and use numbers to describe your objectives.

Avoid making any ambiguous comments, though, as this might give the lender cause for concern and cause them to reject your loan application.

State The Exact Amount

A particular sum must be stated when you have a valid justification for the loan request because this will help the lender determine whether you have the borrowing capacity.

If your earnings are high enough to cover the cost of returning the borrowed funds, that is. It also indicates whether the amount borrowed is appropriate for the purpose for which it was borrowed.

State the Means of Repayment

This expresses your desire to refund the money. Because it provides a complete picture of the loan cycle, this is important.

Be truthful and accurate when giving out information: Because lending money is risky in itself, maintaining a strong credit history depends heavily on you being truthful and accurate about the circumstance.

A strong loan application letter conclusion should include a paragraph referencing the financial statements of your company that are attached,

a few sentences encouraging the reader to review the loan application materials and expressing your eagerness to meet with them,

your signature and printed name, and a list of enclosures.

Sample Letter

[Applicant’s Name] [Applicant’s Title] [Business Name] [Physical Address] [City, State, Zip Code]

[Loan Officer/Agent/Lender’s Name] [Official Title] [Financial Institution’s Name] [Physical Address] [City, State, Zipcode]

REF: Small Business Loan Request for [Dollar Amount]

To Mr/Mrs [Receiver’s Surname],

I am writing this loan request  letter to ask for a small business loan amounting to [specify the loan amount you wish to borrow] for the purpose (s) of [provide a practical purpose for the loan, e.g., expanding the business, marketing your business to a target audience, recruiting new staff, etc.]

My business, [mention the company name and specify the business structure], became operational in the year[write the year] with [Mention the number of employees at the time of inception] and one location. Over the last 12 years, we have consistently grown, and we now have [Total number of branches] located in [Mention the various branch locations], and we currently have [write your current number of employees].

My business solely specializes in the [Mention the industry type, e.g., food-service, motor vehicle spare parts, building, and renovation industry, etc.]. We advertise on our official website, [provide your business’s website link] and market our products/services on various social media channels such as [Mention the social media pages, e.g., Twitter, Instagram, Facebook, etc.]. So you can visit those sites to follow our business journey and success stories.

In the previous business financial year, our annual sales revenue amounted to [provide the factual figure in dollar amount], and the business generated a net profit of [write profit in dollar amount or percentages].  These figures prove that we have consistently maintained our cash flow for the past [write the number of years] and have managed to generate profits each year we have been operational.

To promote our continued growth, we have strategized a business expansion plan to reach our target market in remote areas. The loan we are requesting will help us meet our business expansion goals. In addition, we anticipate increasing our total revenue by [quantify in figures or percentages] within the first quarter of opening, which will contribute to our loan repayments.

We want to pursue this endeavor in (mention the anticipated project start dates], and we hope you consider financing our business expansion goals. I have also attached our business plan, the most recent financial statements, including our income statement, business balance sheet, and business credit reports, for your review.

I appreciate you for taking the time to review this loan application letter along with the enclosed financial documents. I look forward to hearing from you at your convenience.

Sincerely, [Loan applicant’s name]

[Loan applicant’s signature]

[Loan applicant’s business title]. [List the enclosures provided]

Format for Loan Request letter to Employer

• Address to the right authority
• State Your Reason for the loan
• State the specific amount
• Mention your positive Attributes in the company
• Mention how you intend to pay back

Peter Walters

The Manager

Administration Department

Sub: Application for Loan to purchase a New Bicycle.

Dear Mr. Walters ,

I would like to request you if you could please grant me a loan of $800 as a personal loan as I need to purchase a New Bicycle. Also, I am in need of a new Bicycle as my old one is broken beyond repair and this is the mode of transport to commute to work.

I do not have that amount of money in hand at the moment, hence, I was hoping if you could help me by lending me the money.

As you are aware that I have been with the company for the past 3 years and have proven me to be a loyal and dedicated employee under your kind leadership, hence I believe you would consider me worthy of the loan.

As per the company’s employee loan policy, you can suggest a repayment plan for me as per your discretion to be deducted from my salary.

Thanking you in advance and hoping to hear from you soon.

Kind regards,

Candy Silver

Customer Service Officer

Administration Team

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Now it’s Your Turn

You can use the above listed formats to write the best loan application letter in Nigeria

Drop a comment now if this was helpful

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How to Write a Loan Application Letter: a Complete Guide

Have you been having challenges with how to write a loan application letter? If yes, then this article is for you. Nothing is as frustrating and depressing as finding a company or body ready to give you a loan but requires you to submit a loan application letter. Then you can’t write a convincing application letter.

Many people have had potential loans slip through their hands because they submitted an unconvincing letter. If you have had such a problem in the past, I’ve got good news for you. I have put up a guide on writing a detailed, convincing loan application letter that will help you get a loan to support your business or solve your problem. I have also written a sample that you can use as a guide. Without any further ado, let’s get started!

Table of Contents

When Should You Write A Loan Application Letter?

Two primary situations may necessitate the writing of a loan application letter. The first situation is needing a loan from a traditional bank lender. These financial institutions do not grant loans but make them available to the public. To prove their creditworthiness, applicants must typically submit a loan application to traditional banks.

The second situation that may require a loan application letter is when you are applying for an SBA-guaranteed loan. This type of loan involves the federal government, and applicants must undergo additional screening before being approved for funding. Submitting a formal loan application with supporting documentation can improve an applicant’s chances of receiving an SBA guarantee.

A well-written loan application letter can significantly affect the approval process in both situations. The letter should be personalized and provide all the details supporting your case for receiving a loan.

The letter must include your name, contact information, and an explanation of why you are seeking a loan. Additionally, you should provide details on how to use the loan funds and how to repay the loan.

Your loan application letter should be written formally and professionally, with proper grammar and formatting. It should also include supporting documentation, such as a business plan, financial statements, and tax returns. These documents will help substantiate your application and provide additional information lenders may require to make an informed decision.

It is essential to take the time to prepare a thorough and professional loan application letter that accurately reflects your financial situation and your ability to repay the loan.

What Your Loan Application Should Contain

Various elements must be found in your loan application letter; with these key elements, your loan application will be complete.

Personal Information: The first section of the loan application letter should contain personal information about the borrower. This information should include the borrower’s name, phone number, and email address. It is important to provide accurate information to ensure the lender can contact the borrower if necessary.

Loan Information: The next section of the loan application letter should provide details about the requested loan. This information should include the loan amount, the purpose of the loan, and the repayment terms. It is important to be specific about the loan amount and the repayment terms to ensure everything is clear.

Employment and Income Information: The lender will want to know about the borrower’s employment and income to determine if they can repay the loan. The borrower should provide information about their current employment status, including their job title, length of employment, and monthly income. If the borrower is self-employed, they should provide details about their business and income.

Credit History: The lender will also want to know about the borrower’s credit history. The borrower should provide information about past loans or credit accounts, including their current status and repayment history. They should also provide information about any bankruptcies or foreclosures.

Collateral: If the borrower is applying for a secured loan, they should provide information about the collateral they offer. This information should include a description of the collateral and its value.

Loan Purpose: The borrower should explain the purpose of the loan in detail. This could include paying off debt, making home improvements, or purchasing a vehicle. It is important to be specific about the loan’s purpose to help the lender understand how the loan will be used.

Repayment Plan: The borrower should provide a detailed repayment plan outlining how to repay the loan. This plan should include the repayment schedule, the amount of each payment, and the payment method. It is important to be realistic about the repayment plan to ensure the borrower can afford the payments.

Conclusion: The loan application letter should conclude with a summary of the borrower’s financial situation and why they are a good candidate for the loan. The borrower should thank the lender for considering their loan application and provide their contact information for follow-up.

Tips for Writing an Effective Loan Application Letter

• Be clear and concise in your writing.
• Provide accurate and detailed information.
• Use proper grammar and spelling.
• Be honest about your financial situation.
• Make sure your repayment plan is realistic.
• Include any relevant documents, such as pay stubs or tax returns.

Example of a Loan Application

[Your Name]

[Your Address]

[City, State ZIP Code]

[Your Phone Number]

[Your Email Address]

Dear [Lender’s Name],

I am writing to apply for a loan in the amount of [Loan Amount] to [Purpose of Loan]. I have researched various lenders and have determined that your lending institution offers the best terms for my needs.

I have been employed as an [Occupation] at [Company] for [Years of Employment] years and have a stable income of [Monthly Income]. My credit score is [Credit Score], and I have no outstanding debts or obligations. I am confident I can repay this loan in full and on time.

The funds from this loan will be used for [Purpose of Loan], which is important to me for [Reason for Purpose of Loan]. I have attached a detailed budget plan outlining how I intend to use the funds and how I plan to repay the loan.

I would appreciate your consideration of my loan application. Please let me know if you require additional information or documentation through this contact [phone number] or [email address]. I am available to discuss my application at your convenience.

As part of my loan application, I have included the following documents for your review:

• Business plan
• Financial statements for the past three years
• Articles of incorporation
• Personal financial statements for all owners
• Tax returns for the past three years
• Cash flow projections
• A list of collateral that will be used to secure the loan.

Thank you for your time and consideration.

Frequently Asked Questions

What is the most important factor in getting a loan.

The most important factor in getting a loan is your Debt-to-Income Ratio.

What is The Best Reason to Put When Asking for a Loan

You can use emergency expenses like medical emergencies, job loss, car repair, the death of a family member, etc., as reasons for requesting a loan.

Should I Attach Any Supporting Documents with My Loan Application Letter?

Yes. Attaching any supporting documents you have is very important, as they will help increase your chances of getting a loan.

Final Wrap Up

A loan application letter is an important part of the loan application process. Providing accurate and detailed information about your financial situation and the requested loan is essential. Following the tips outlined in this article, you can write an effective loan application letter that increases your chances of getting approved for a loan.

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5 Best Format Examples of Loan Application Letter in Nigeria 2023 Code

Loan Application Letter in Nigeria – Do you wish to apply for a Loan in Nigeria? Whether it’s a business Loan or a personal loan, knowing how to properly write loan application letter can help you obtain the loan you are currently looking for. Do you know the right format in writing a loan application in Nigeria? If no, then continue reading this post to see the best loan format for all types of loan in Nigeria. Information Guide Nigeria

A well written application letter can be just what you need to land that loan you’ve been waiting for. Most business owners often apply for a business loan to maybe expand their business enterpr i se, or to cover for a new business idea they wish to venture into. However, getting the loan isn’t as easy as it may seem sometimes. Although, there are several financial institutions that offers loans to business owners, but they usually require you to write an application letter before getting the loan. That’s why you need to learn the proper format in writing a loan application.

Read Also:   How to Print NYSC Call Up Letter

What is a Loan Application Letter?

A loan application letter is formally written application letter to a your employer, financial institution, or company to express your intention of acquiring a business or personal loan from them.

The loan application letter highlights your personal achievements, skills, and life as an individual. It helps you to gain the attention of the employer or the financial institution responsible for reviewing the loan applications.

For your loan appl i cation to be approved, it must be interesting enough to the manager, and it must highlight your key qualifications that makes you fit for the type of loan you’re requesting for.

Read Also:  How to Write NYSC Relocation Letter With Samples

How to Write a Loan Application Letter

To write a good loan application letter, follow the key points below:

1.    Address the Letter to the Right Authority

One of the important key note of writing a loan application letter is addressing it to the authority. If your loan application letter is addressed to the wrong authority, then your loan application will not be processed. Always conf i rm the right authority to which you are expected to address the loan application before addressing your letter. For example: HR, Your Manager, or Loan Officer.

2.    State Your Reasons For Requesting the Loan

When applying for a loan, whether for business use or personal use, it is important that you explain in details how the money will be spent. When you apply for a loan with vague explanation of how the money is to be spent, then your loan application may not be approved. The lender needs to know why you need the money in other to determine if it is reasonable or not.

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3.    Be Specific About the Amount you want

Always be specific about the amount you’re requesting for when applying for a loan. It is believed that if your reason for requesting a loan is legitimate, then you should know the exact amount of loan you need to solve your problem. Also, this will help the lender know if you have the borrowing capacity for the amount you’re requesting for.

4.    Present Your Positive Attributes

When applying for a loan, make sure you describe all your good attributes in the application letter to show the lender that you are trustworthy. Describe your positive work history, and what you can offer to guarantee that the loan will be paid on time.

5.    Describe How You Intend to Pay the Loan

This a an important part of the loan application letter. Make you depict your intention of repaying the loan if granted to you. This will let the lender know that you are indeed worthy of the loan you are requesting for.

6.    Make Sure the Information You Provided are Correct and be Honest

Money lending is a sensitive issue, that’s why money lenders only loan money to people who are honest and factual about the situation. Also, it is important that you keep a good credit history, to enjoy smooth loan application.

Read Also:  How to Get NYSC Rejection Letter

Loan Application Letter (5 Best Format)

The loan application letter is divided into six paragraphs, with each paragraph addressing a major topic like the loan amount, descr i ption of your business, purpose of loan, target market, repayment plan, etc. See the best loan application letter format below:

Business Loan Application Letter Format

Let’s take a look at how to write a business loan. Taking a case study of a businessman who owns a furniture business and is requesting for a loan amount of N30 million to expand his business.

Mr. Victor Nnaji

Chief Executive Officer

Nnaji’s Furniture Homes

Mr Johnson Michael JAMB Result

The manager

Administration Department

XYZ Co. Ltd.

Application for Loan to Expand My Business

Dear Mr Johnson,

I am requesting a business loan of N30 million to help me expand my furniture business most especially my warehouse facilities. In the last 2 years, my business have experienced a major boost in sales and income which has made me see reasons to opt for an expansion.

I have accumulated a huge experience in the furniture business industry and I could be considered an expert and also a top marketer in this industry. JAMB Form

I started the Nnaji’s Furniture Homes in 1992 and since then, the company has consistent profit till date. Although there have been some ups and downs in the business, which is normal with all businesses, but the company has thrived greatly under my leadership.

The market for Furniture business depends on the housing market of the economy and we have lots of clients who have been satisfied with our products and have given good reviews about our products.

In recent years, the housing market has improved greatly and the projected growth in the next 10 years exceeds the numbers prior to recession. So at Nnaji’s furniture, we are doing our very best to ensure we meet up with the growing demand for furniture as well as the keeping up to date with the latest designs coming up, so we can always be ahead in the market.

I utilized cost-effective marketing strategies that resulted in an average of 4000 new orders every month from numerous private homeowners across the nation.

So far, I have invested about N20 million into the business, and my collateral consist of business assets with a fair market value of N45 million, while my personal assets is valued at N25 million. Npower Recruitment

I am disclosing my business plan which shows in details the reasons for the loan request. You can contact me on +2341647745362 if there are any questions you wish to ask.

Kind Regards,

Chief Executive Officer 5 Best Format Examples of Loan Application Letter in Nigeria

Nnaji’s Furniture Homes.

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Personal Loan Application Letter Format

If your loan application is for personal use, then use the format below. The case study here is customer service officer who is applying for loan to pay his children’s school fees.

Brian Dennis.

Customer Service Officer

Administration Team WAEC Result

Mr Bruce Banner

BCV Co. Ltd.

Application for Loan to Pay Up Children’s School Fees

Dear Mr Bruce, How to Check MTN Bonus Balance

I am humbly request for a personal loan of N200,000 to enable me pay my children’s school fees. I was supposed to have paid the fees before now but due to some unplanned events came up, and was quite urgent, I couldn’t pay the fees.

This unplanned event led to the reduction of the money set aside for my children’s school fees and I was hoping to get a loan from you to enable me paid up their fees.

It is no news that I have been with the company for over five years now and I throughout my time a the company, I have shown utmost loyal and dedicated to the organization and so I believe you could consider my request for the loan and deem me worthy of getting the loan.

You can use your discretion to determine or suggest a repayment plan for me as an employee of this organization.

Thanks in anticipation as I hope to hear from you soon.

Kind regards,

Brian Dennis. How to Connect NIN to Glo SIM

Administration Team

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5 Best Loan Application Letter Format In Nigeria

• by SAMUEL OKOSI
• May 27, 2022

5 Best Loan Application Letter Format In Nigeria-If you want to get a loan and you are looking for the format to use to write your loan application, then you have stopped at the right place as we are going to show you how to write a loan application letter so that your loan application will be accepted.

A loan application letter has a lot of important details about you that will show your creditworthiness which can either increase your chances of getting the loan or reduce it.

Your loan application letter can stand out if it is one that includes your interest in the company, stating your skills, experience and competencies and shows the lender why you are the ideal person to get the loan.

So without further delay, let’s show you how to write a good loan application letter.

What Is A Loan Application Letter?

This is a formal document that a borrower writes and submits to a prospective lender with the intent of getting a loan.

The letter explains the borrower’s request for loan, the amount of loan requested, the reason for the loan and also an explanation on why the lender should consider the applicant’s loan request. The letter also tells how the applicant intends to repay the loan.

Requesting for loan is not a bad thing especially when you are faced with some life challenges, personal and emergencies needs, expand your current business or take advantage of your current market opportunity.

Regardless of reason for wanting to get a loan, there are different lending options for you to choose from and you might spend more or less time and effort applying for a loan depending on which lending options you decide to pursue.

What You Should Know When Writing A Loan Application Letter

When writing a loan application letter, there are some points you should take note of and they are:

·     Address of the right authority

Your application letter should be addressed to the right person or party as it is very important when starting a conversation especially in a formal way. Always try to find out who the application letter is to be submitted to and address the letter to them.

So it could be to the Human Resource Manager or the loan officer.

·     Reason for the loan

Before you will be giving any loan or before your loan application will be approved, you must mention the reason you want to take the loan.

You should make sure your reason is to too vague and unnecessary as the lender wants to the see the urgency and great need for the loan as this plays a role in determining your creditworthiness.

The lender needs to know if the need is reasonable and if you are going to put the money to good use. ~Best Loan Application Letter Format In Nigeria~

Also, they would want to be sure that what you want to use the money for is legal as no lender would want to be associated with illegal activities.

·     Be specific with the amount you want

When you have a pressing need and reasonable reason to request for a loan, you will need to be specific with the amount you want to collect as this will help the lender know if you have the borrowing capacity.

This will help the lender know if your earnings will be sufficient to recover the repayment of the money borrowed.

·     Attributes about yourself that makes you trustworthy

Some lenders might require you to state your positive attributes as these play a role in determining your creditworthiness. You will need to talk about your positive work history and some good behaviour.

·     Mention how you intend to repay the loan

Here, you will have to show how you intend repaying the loan. This is very important as a lot of lenders will use this to determine if you are creditworthy.

You will have to provide the information and also be honest: lending money is a risk in itself and the opportunity cost of lending that money to you is the other thing the lender was supposed to use the money to do.

Ensure that you have a good credit history.

Loan Application Letter Format And Content

Generally, a loan application letter is not supposed to be too long as it should have about five to six paragraphs with each major topic discussed in a separate paragraph.

The contents include a description of your business, the amount you have invested in your business, the purpose of the loan, the loan amount requested and the target market and competition.

Try to find out the name of the person that handles business loans and address the letter to that person.

Loan Application Letter Sample

If you want to collect a business loan, you will have to be very “straight to the point”.

·      Business Loan Application Letter Sample

In this loan application letter sample we will be talking about here, the owner of a furniture business is requesting a loan in the amount of N20 million to expand his warehouse and some other parts of his business.

He includes information regarding the business success to help increase her chances of getting her loan application approved.

Dear Mr John,

I am requesting a business loan of about N20 million to help me expand my business most especially my warehouse facilities. In the last two years, my business has experienced a major boost which has made us see reasons for an expansion.

I have a huge experience in the furniture business and when it comes to the industry, I am considered an expert and also a top marketer.

I started the Charles Furniture Homes in 2000 and the company has earned profit consistently since its establishment till date although there have been some ups and downs which is normal with all businesses.

The market for this business depends on the housing market of the economy and we have has a lot of clients that give good reviews about our products.

In recent years, the housing market is improving greatly and the projected growth exceeds the numbers prior to recession. So we are doing our best to meet up with the growing demand for furniture as new design are coming up and we always want to be ahead in the market.

I utilized cost-effective marketing strategies that result in an average of 200 new orders every month from private homeowners.

So far, I have invested about N15 million of my own money and my collateral consist of business assets with a fair market value of N40 million  and personal assets valued at N25 million.

I am disclosing my business plan which shows in details the reasons for the loan request. You can contact me on 01 647 7453 if there are any questions.

Mr. Charles Mark

Chief Executive Officer

Charles Furniture Homes

Enclosure: Business Plan ~Best Loan Application Letter Format In Nigeria~

·      Personal Loan Application Letter Sample

Mr Emmanuel David

The manager

Administration Department

XYZ Co. Ltd.

Sub: Application for Loan to pay up children school fees.

Dear Mr David,

I am writing this to request if you could please grant me a personal loan of N100,000 to enable me pay up my children school fees. I was supposed to have paid up their fees before now but some other unplanned events came up and we had to meet them.

 This led to the reduction of the money for the fees and I was hoping I could get a loan from your to enable me paid up their fees.

It is no news that I have been with the company for over three years now and I have shown to be a loyal and dedicated employee to the organization and so I believe you could consider my request for the loan and grant we worthy of getting the loan.

You can use your discretion to determine and suggest a repayment plan for me as an employee of this organization.

Thanks in anticipation as I hope to hear from you soon.

Kind regards,

Michael Smith.

Customer Service Officer

Administration Team

Sample Plot Loan From a Company

Request For Loan From Company Sample

Personal Loan Application Letter Sample

For whichever type of loan you want to take, we have given you a format that you can use to write yours. if you really want your loan application to be approved, you will have to take your time to write a loan application letter that will capture the attention of the lender and make them see reasons they should grant your loan request. ~Best Loan Application Letter Format In Nigeria~

The format and samples are just guides on how to write a loan application letter. Using the format or sample doesn’t guarantee that you would be granted your loan request as lenders look at some other factors in order to determine your creditworthiness.

• loan application letter format

SAMUEL OKOSI

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How to write a Loan Application Letter in Nigeria

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How to write a Loan Application Letter in Nigeria easy

Want to know How to write a Loan Application Letter in Nigeria this article would guide on it step by step.

• Ever dreamt of a new business venture but lacked the capital?
• Facing unexpected expenses and need a financial lifeline?

If you’re nodding your head, then a well-crafted loan application letter could be your key to unlocking the funds you need. But navigating the world of loan applications in Nigeria can feel like deciphering ancient hieroglyphics. Fear not, aspiring borrower! This comprehensive guide will equip you with the knowledge and tools to write a loan application letter that stands out from the crowd and increases your chances of securing approval.

Table of Contents

Crafting a Winning Application:

1. Understand Your Needs:

• Before diving in, take a step back and ask yourself: what  type of loan  do you need? Is it a personal loan, a business loan, or something else? Each type has its own specific requirements and considerations.
• Determine the loan amount : Research the average cost of achieving your goal and be realistic about what you can afford to repay.

2. Choose Your Lender Wisely:

• Research different banks, microfinance institutions, and other lending institutions in Nigeria. Compare interest rates, terms, and eligibility criteria to find the best fit for your needs and financial situation.

3. Structure Your Letter:

• Formal Format:  Use a professional letter format with your contact information, date, and the lender’s address at the top.
• Clear and Concise:  Write in simple, easy-to-understand language, avoiding jargon and technical terms.
• Proofread Meticulously:  Ensure your letter is free of typos and grammatical errors. A polished presentation reflects well on your attention to detail and professionalism.

4. Key Elements of Your Letter:

• Introduction:  Briefly introduce yourself and state your intention to apply for a loan.
• Purpose of Loan:  Clearly explain why you need the loan and how you plan to use the funds. Be specific and avoid vague statements.
• Financial Situation:  Highlight your income sources, employment status, and any assets you own. Be transparent about your financial health and ability to repay the loan.
• Repayment Plan:  Outline your proposed repayment schedule, including monthly installments and duration. Show the lender you have a realistic and achievable plan to manage the debt.
• Collateral (if applicable):  If the loan requires collateral, mention the type and value of the assets you can offer as security.
• Closing:  Thank the lender for their time and consideration, and express your enthusiasm for a positive response.

5. Supporting Documents:

• Attach relevant documents like pay stubs, bank statements, tax returns, or business plans depending on the loan type.
• Ensure all documents are clear, authentic, and up-to-date.

Additional Tips: How to write a Loan Application Letter in Nigeria

• Be Honest and Transparent:  Don’t try to embellish your financial situation or sugarcoat any potential risks. Honesty goes a long way in building trust with the lender.
• Highlight Your Strengths:  Showcase your experience, skills, and track record of success (if applicable). This demonstrates your potential for responsible loan management.
• Tailor Your Letter:  Don’t use a generic template. Adapt your letter to the specific lender and loan type you’re applying for.
• Follow Up:  Don’t be afraid to follow up with the lender after submitting your application. Show your continued interest and address any questions they may have.

Frequently Asked Questions (FAQ):

1. What documents are typically required with a loan application letter?

This varies depending on the loan type and lender. However, common documents include pay stubs, bank statements, tax returns, and business plans (for business loans).

2. Can I apply for a loan if I have a bad credit history?

Some lenders may consider applicants with bad credit, but it may affect your interest rate and loan terms. Be upfront about your credit history and explain any mitigating factors.

3. How long does it take to process a loan application?

Processing times vary depending on the lender and the complexity of your application. Expect anywhere from a few days to several weeks.

4. What are some common reasons for loan application rejection?

Incomplete applications, insufficient income, poor credit history, and lack of collateral are common reasons for rejection.

5. What happens if my loan application is rejected?

Don’t get discouraged! Review the lender’s feedback and address any shortcomings in your application. You can also consider applying to other lenders with more favorable terms.

Conclusion: How to write a Loan Application Letter in Nigeria

Remember, a well-written loan application letter is your chance to make a strong first impression on potential lenders. By following these tips and tailoring your approach to each application, you can increase your chances of securing the funding you need to turn your dreams into reality.

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All Formats

22+ Sample Loan Application Letters – PDF, DOC

There are times when we need financial aid to push through with our education, business ideas, or other personal projects or goals which require a huge amount of money for its realization. It is for this reason that lending companies have been existing ever since the days of old. Today, the primary step to being taken by someone who wants to borrow money from another individual or institution is to write a loan application letter .

Loan Application Letter

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The Loan Application Process

• Before the loan contract , the borrower would send a loan application cover letter to the prospective lender to express his or her intent to ask for a loan.
• Afterward, when the lender has decided to consider the application for a loan made by the borrower, the borrower, and the lender would convene to negotiate the terms of the loan.
• The payment method, whether personal, through a check, online banking, etc.
• The number of times the payment is going to be made. There are various options. For example, the loan can be paid at one time, or it can be done in yearly or monthly installments.
• The amount of interest to be added on top of the loaned amount. The interest is the amount of money that is charged by the lender to the borrower on top of the amount which he/she has loaned. You may also see job reference letters .
• The assets (land, buildings, vehicles, or other properties) of the borrower would serve as collateral damage in case the borrower fails to make his/her payment on the time it is due.

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Things To Remember in Writing a Loan Application Letter

• Observe the proper rules for writing formal letters.
• State your intent to borrow a specific amount of money.
• Explain in detail the reason for borrowing money. You must be offering a clear, honest, and transparent explanation as to how you intend to utilize the money you intend to borrow. You may also see free application rejection letters .
• Enumerate your assets and liabilities.
• State the time, date, manner, and method which you prefer to make your payment.

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Loan application letter template, loan requisition letter, sample loan application letter template, simple loan application letter template, loan application letter to employer template, personal loan application letter template, loan application letter for school fees template, loan application letter to bank manager template, loan application letter for house rent template, loan application letter from employee template.

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How to write an application letter in Nigeria (with example)

Probably you are a school leaver looking for a job, or you are already working and seeking greener pastures. With a large population of Nigerians seeking job opportunities, you must be able to write a competent application letter. That will make you stand out and convince your prospective employer that you are the right one for the job. Learning how to write an application letter in Nigeria can save you a lot and land you your dream job. Amoo Abdulrazaq Abioye, an experienced resume expert and freelance writer with over a decade of experience, provides insights on crafting a successful application letter.

TABLE OF CONTENTS

Your contact details, the recipient's contact details, subject line, introduction, body paragraphs, application letter sample in nigeria, what not to include in your nigerian application letter.

A job application letter is an essential part of the recruitment process. It is the first and most important document that employers will review when considering you for a job opportunity. Standard writing is essential, whether you submit the application letter in soft or hard copy. Here you will learn how to write a competent application letter in Nigeria.

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How to write an application letter in Nigeria

Among the skills to master when writing a letter of application in Nigeria is formatting. Proper formatting ensures that your letter is up to standards and the recipient can easily read it.

Amoo Abdulrazaq Abioye , a seasoned resume expert and freelance writer, shared with Legit.ng the essential components required to compose a compelling and attention-grabbing application letter. He said:

Research the company you are sending the application to. When you've all the details about the copy and the position you are sending the application for, this will give you an edge over another applicant because you will have a strong opening.

Abioye's go-to step-by-step list includes:

• Strong Opening: The only way to grab the attention of HR (Human Resource) is to categorically state why the company will benefit from you and why your goal aligns with the company mission and vision statement. You can include some achievements from your previous companies in the opening, but make it concise.
• The secondary paragraph should be your Uniqive Value Proposition (UVP); you have to showcase your skills here and how you can help the company better.
• Brief and Concise: Don't use ambiguous words; make it clear and concise; your application letter read time should not be more than a minute. In contrast, the company can also see the value you are bringing.
• Call to action: This is where most of us refer them back to resumes for more information and let them know you are available to answer any questions.

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Application letter format in Nigeria should include the following:

• A salutation
• A subject line
• An introduction
• A conclusion

Check out some key points you must pay attention to as you learn how to write a job application letter in Nigeria.

When writing your contact details in an application letter, it is essential to include the following:

• Address: Include the full address of your current residence. This information should include the street name, city, state, and postal code.
• Phone number: Include a valid phone number where the recipient can easily reach you.
• Email address: Include an up-to-date email address that is professional and appropriate.
• A link to your website or professional social media profiles: This is an excellent way to provide employers with additional information about yourself and your skills.

N/B: You should write these contact details at the top right corner of your application letter.

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The contact details typically include the following:

• The name and job title
• Company address
• Email address
• Phone number

It is recommendable to address your application letter to a specific individual. Addressing it to a particular individual gives the recipient an immediate personal connection and increases their chances of reading your letter.

You should write a friendly and professional salutation. If possible, address the hiring manager or recruiter by name. If it's impossible to address them by name, use a generic title like "Hiring Manager" or "Human Resources Professional."

Avoid overly casual language like "Hey" or "What's up?" in the salutation.

The subject line for an application letter should be brief but informative. A good subject line should meet the following standards:

• The subject line should convey the letter's purpose and provide just enough information so that the recipient knows what the letter is about.
• It should be clear, concise, and direct so that the reader will be interested in reading it.
• It should include a relevant keyword or phrase related to the job and your qualifications so you can stand out from other applicants.
• You should be creative and use language that will grab the recipient's attention.

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The introduction of an application letter should capture the reader's attention and provide a brief overview of why you are writing. It should include a few lines stating who you are and why you are writing. Express your enthusiasm for the position or opportunity, as this can set you apart from other applicants.

The body paragraphs should include strong action words and emphasize your qualifications. Here's how you do it:

• Start by introducing yourself, your skills, and how you are the perfect fit for the job.
• Explain why your qualifications make you well-suited for this position and highlight any awards or achievements you have.
• Provide evidence and examples of how you've displayed these traits in the past.
• End the body paragraph by expressing your enthusiasm for the position and how you plan to use your skills to achieve success in this role.

Ensure each body paragraph is concise and to the point. That will show the reader that you understand the position and why you're the right person for the job.

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The conclusion of your application letter should be strong and clear , and that is because it is the last impression you are leaving with the reader. It is important to reiterate your enthusiasm and interest in the role and give thanks for their advance consideration.

You should also include a call to action, such as asking the employer to contact you for an interview. Mention how much you look forward to hearing from them and what makes you an ideal candidate.

Use a formal sign-off to leave a good impression. Here are some key points to take note of.

• Nigeria's standard sign-off for an application letter is "Yours faithfully."
• That should be followed by your signature and then your full name, written in capital letters.
• If you know the recipient's name, you can use a more personalized sign-off such as "Yours sincerely."
• Sign-offs should always be written in full, without any abbreviations. That is necessary to show respect and professionalism to the recipient.
• Always double-check your sign-off before sending your application letter, as any spelling mistakes could damage your chances of receiving a response.

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The following sample demonstrates how you can apply the above format when writing an application letter for a job in Nigeria.

[Your Name]

[Your current Address]

[Your contact number]

[Email Address]

[Your Social media/Web address link]

[Hiring manager]

[Company address]

[Email address]

[Phone number]

Dear [sir/Madam/Name of hiring manager]

APPLICATION FOR THE POST OF A FINANCIAL ANALYST

I developed an interest in this position after reading your advertisement in The Nation Newspaper of January 10th 2023, for the post of Financial Analyst. My first-class grade in Accounting, professional qualification (ACA), PhD in finance, and 15 years of cognate experience make me well qualified for this position.

My confidence is backed up by the understanding that this post requires a strong analytical mind, self-initiative and the ability to work under minimum supervision. I pride myself in all these attributes, as evidenced by my promotions and professional awards in the past.

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You may reach me at the address I have provided or through my telephone number for an interview where you can access my ability to add value to [Company name].

Thank you for your attention and consideration.

Yours faithfully,

[Your signature]

[Your full name]

Abioye also shared a sample of an application letter that secured him a job offer with the company he applied to. He mentioned:

There is no one way to do anything; I always tell my mentees that you must be creative. Many cover letter templates are online, but your creativity in fine-tuning them to what you need will make you stand out.

I have written over 2000 covers in the past, but I'll share one that got my client an interview with a salary of over $200,000 per annum. Example below:

Please accept this letter expressing my interest in the Medical Device Technologist position. I am a highly motivated and progress-focused Medical Device Design Engineer with a long-standing background in the Medical Device industry. With a track record of initiative and dependability, I have devised strategic initiatives that will prove valuable to Medical Systems, Inc.

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Throughout my career, I have perfected my medical device testing and determining product specifications abilities. I am a capable and consistent problem-solver skilled at prioritizing and managing projects with proficiency.

In my previous role, I contributed management, leadership, and project management toward team efforts and business improvements. I am progressive-minded and in tune with new developments in my field, I have proven to be effective and collaborative with solid innovation talents. I enjoy joint brainstorming sessions, which allow me to coordinate activities to achieve a common goal.

Please take a moment to review my attached resume and credentials. I would greatly appreciate the opportunity to speak with you regarding my candidacy. I appreciate your consideration.

When writing an application letter, there are a few things to avoid. They include the following:

• Refrain from including too much personal information, which can be considered unprofessional.
• Make your letter precise and to the point, avoiding overly detailed descriptions of your experiences and qualifications irrelevant to the job you are applying for.
• Avoid using casual language or slang, as it can be off-putting to potential employers.
• Refrain from providing false information or exaggerating your qualifications, as it could disqualify you from the job.

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An application letter is an essential document in your job search. The letter has the potential to make a good impression on prospective employers and help you have the edge over the rest of the candidates. You should write it with clarity, precision and professionalism to ensure you make the best first impression possible. Hopefully, you now know how to write an application letter in Nigeria. You just need to be confident.

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30+ How to Write an Application Letter in Nigeria with Templates

• Letter Writing
• March 1, 2024
• Application Letters

How To Write An Application Letter In Nigeria: When writing an application letter in Nigeria, it is important to follow a proper format and include all the necessary details. The letter should be addressed to the appropriate person, such as the human resources manager or admission officer. The opening paragraph should state the purpose of the letter and express your interest in the position or program.

In the body of the letter, you should provide details about your qualifications, skills, and experience that make you a suitable candidate for the position or program. You should also highlight any achievements or accomplishments that are relevant to the job or program.

In the closing paragraph, you should express your appreciation for considering your application and reiterate your interest in the position or program. You should also include your contact information so that the employer or admission officer can reach out to you for further discussion.

Also Check: Hostel Application Letter

How To Write An Application Letter In Nigeria – Follow these steps

Content in this article

Here are the steps to write an application letter in Nigeria

• Address the letter to the appropriate person or organization.
• Use a professional tone and language throughout the letter.
• State the purpose of the letter in the opening paragraph.
• Express your interest in the job or program and mention where you saw the job posting or program announcement.
• Briefly introduce yourself and highlight your relevant skills and experience.
• Provide specific examples of how your skills and experience can benefit the organization or program.
• Use bullet points to make your qualifications stand out.
• Close the letter by expressing your appreciation for considering your application and reiterating your interest in the position or program.
• Include your contact information and availability for an interview.
• Proofread the letter for spelling and grammatical errors before sending.

an Application Letter in Nigeria – Sample Format

Below is a sample format for an application letter in Nigeria. This example is for a job application:

[Your Name] [Your Address] [City, State, Postal Code] [Email Address] [Phone Number] [Date]

[Employer’s Name] [Company Name] [Company Address] [City, State, Postal Code]

Subject: Application for [Job Position] – [Your Full Name]

Dear [Employer’s Name],

I am writing to express my interest in the [Job Position] advertised on [where you found the job posting, e.g., company website or job portal]. With a [mention relevant years of experience] in [your field], I am confident in my ability to contribute effectively to your team.

• [Highlight key skills, experiences, or achievements that align with the job requirements.]
• [Mention any relevant certifications or qualifications.]
• [Express enthusiasm for the company and its mission.]

Why This Job:

• [Explain why you are interested in this particular job and how your skills align with the company’s needs.]
• [Show that you’ve researched the company and understand its values and goals.]
• [Briefly mention your current situation and why you are seeking a new opportunity.]

I have attached my resume for your consideration, providing further details about my professional background. I am eager to contribute my skills and expertise to [Company Name], and I look forward to the opportunity to discuss how my qualifications match the requirements of the [Job Position].

Thank you for considering my application. I am available for an interview at your earliest convenience and can be reached at [Your Phone Number] or [Your Email Address].

[Your Full Name]

Remember to customize this template according to the specific details of your application and the job you are applying for.

An Application Letter in Nigeria – Sample Format

an Application Letter in Nigeria – Example

Here’s an example of an application letter in Nigeria for a job position:

Subject: Application for Sales Executive Position – John Doe

I am writing to express my sincere interest in the Sales Executive position advertised on your company’s website. With a solid background in sales and a proven track record of achieving and exceeding sales targets, I am confident in my ability to contribute to the continued success of [Company Name].

In my previous role as a Sales Representative at XYZ Company, I consistently exceeded monthly sales targets by 20%, demonstrating my ability to drive revenue. My excellent communication and interpersonal skills have allowed me to build strong relationships with clients, resulting in a 30% increase in customer retention. Why This Job:

I am impressed by [Company Name]’s commitment to innovation and quality, and I am excited about the opportunity to contribute to your dynamic team. Your company’s values align with my own professional values, and I am eager to be part of a company that values excellence and customer satisfaction. Why Now:

I am currently seeking a new challenge where I can leverage my skills and contribute to the growth of a forward-thinking company like [Company Name]. I have attached my resume for your perusal, which provides additional details about my professional background. I am enthusiastic about the possibility of contributing to [Company Name]’s success and would welcome the opportunity to further discuss how my skills and experiences align with the requirements of the Sales Executive position.

Thank you for considering my application. I am available at your earliest convenience for an interview, and I can be reached at [Your Phone Number] or [Your Email Address].

Feel free to tailor this example to your specific circumstances and the job you are applying for.

An Application Letter in Nigeria – Example

An Application Letter In Nigeria for Job Vacancy

Here is An Application Letter In Nigeria for job Vacancy:

[Your Name] [Your Address] [City, State ZIP Code] [Your Phone Number] [Your Email Address] [Date]

[Recipient’s Name] [Recipient’s Title] [Company Name] [Address] [City, State ZIP Code]

Dear [Recipient’s Name],

I am writing to express my interest in the vacant position of [Job Title] in your esteemed organization as advertised on [Job Portal/Website/Newspaper]. I am a recent graduate of [Course/Program] from [University/Institution] with [Grade/CGPA], and I believe that my skills, knowledge, and experience make me an excellent fit for this position.

I have gained experience in [Skill/Experience] while working on [Project/Internship/Previous Job], and I am confident that I can bring these skills to your organization to contribute to its growth and success. I am a quick learner, a team player, and have excellent communication and interpersonal skills that will enable me to work collaboratively with colleagues and clients.

I have attached my resume, academic transcripts, and any other relevant documents for your review. I am available for an interview at your convenience and look forward to discussing my qualifications further.

Thank you for your time and consideration.

Sincerely, [Your Name]

Application Letter In Nigeria for Admission to a Nigerian University

Here’s an Application Letter In Nigeria for Admission to a Nigerian University:

[Recipient’s Name] [Admission Officer] [University Name] [Address] [City, State ZIP Code]

Dear Sir/Madam,

I am writing to apply for admission to [University Name] for the [Program] starting in [Semester/Year]. I have completed my [Secondary Education/Higher Education] from [School/College] with [Grade/CGPA] and have a keen interest in pursuing higher education in [Field of Study].

I have researched [University Name] and am impressed by its academic reputation, faculty, and facilities. I am particularly interested in [Course/Program], as it aligns with my academic and career goals. I have taken courses in [Subject] and have participated in [Extracurricular Activity] that have enhanced my skills and knowledge in this field.

I have attached all the required documents, including my academic transcripts, standardized test scores, and other relevant certificates, for your review. I am confident that my academic achievements and extracurricular activities make me a suitable candidate for this program.

I would appreciate the opportunity to discuss my qualifications further and attend an interview. Thank you for considering my application.

[Your Name]

an Application Letter in Nigeria – Template

Here’s a template you can use as a starting point for an application letter in Nigeria:

Customize this letter according to your specific situation, the job you are applying for, and any other relevant details.

An Application Letter in Nigeria – Template

Job application letter in Nigeria

Below is a job application letter in Nigeria:

Feel free to customize this letter based on your specific circumstances, the job you are applying for, and any other relevant details.

Job Application Letter in Nigeria

Nigeria cover letter

Here’s a cover letter for a job application in Nigeria:

Nigeria Cover Letter

Professional application letter in Nigeria

Below is a professional application letter for a job in Nigeria:

I am writing to express my sincere interest in the [Job Position] at [Company Name], as advertised on [where you found the job posting, e.g., company website or job portal]. With a solid background in [your field] and a track record of successful project management, I am confident in my ability to contribute effectively to your esteemed organization.

Key Strengths:

• [Highlight key skills, experiences, or achievements relevant to the job.]
• [Emphasize any certifications, training, or qualifications that make you stand out.]
• [Demonstrate your knowledge of industry trends and your commitment to continuous learning.]

Why [Company Name]:

• [Express why you are particularly interested in working for this company.]
• [Highlight how your skills align with the company’s values and goals.]
• [Show that you have researched the company and are aware of its industry reputation.]
• [Briefly explain your career goals and how this role fits into your long-term plans.]
• [Mention any unique skills or experiences that make you a strong candidate.]

I have attached my resume for your perusal, providing additional details about my professional background. I am enthusiastic about the prospect of contributing to [Company Name]’s success and would welcome the opportunity to discuss how my skills align with the requirements of the [Job Position].

Feel free to customize this letter according to your specific situation, the job you are applying for, and any other relevant details.

Professional Application Letter in Nigeria

How To Write An Application Letter In Nigeria- Email format

Here’s an Email format of An Application Letter In Nigeria

Subject: Application for [Job Position/Program Admission] at [Organization/University Name]

I am writing to express my interest in the [Job Position/Program Admission] at [Organization/University Name] and have attached my application documents for your review.

I am a [your qualification or background] with [your experience or skills] that make me an ideal candidate for this position. I have a strong [your skills] and [your skills] that I can bring to the table to contribute to the growth and success of [Organization/University Name].

I am confident that my [your skills or experience] align with the requirements of this position/program, and I am eager to demonstrate how I can make a valuable contribution to your organization/university.

Please find attached my [resume/academic transcripts/other relevant documents], and I would appreciate the opportunity to discuss my qualifications further with you in an interview.

Thank you for considering my application.

[Your Contact Information]

How To Write An Application Letter In Nigeria- Email Format

Application letter for employment in Nigeria

Below is a sample application letter for employment in Nigeria:

I am writing to express my interest in the [Job Position] at [Company Name], as advertised on [where you found the job posting, e.g., company website or job portal]. With a strong background in [your field] and a passion for [specific aspect of the industry], I am confident in my ability to contribute effectively to your team.

Feel free to customize this template according to your specific situation, the job you are applying for, and any other relevant details.

Application Letter for Employment in Nigeria

Formal letter writing in Nigeria

Formal letter writing in Nigeria follows standard conventions and formats. Here is a template for a formal letter that you can use as a guide:

[Your Name] [Your Title or Position, if applicable] [Your organization, if applicable] [Your Address] [City, State, Postal Code] [Email Address] [Phone Number] [Date]

[Recipient’s Name] [Recipient’s Title or Position] [Company or Organization Name] [Company Address] [City, State, Postal Code]

Subject: [Brief Description of the Letter’s Purpose]

[Salutation] (e.g., Dear Mr. Smith, Dear Dr. Johnson),

Introduction:

• Begin with a formal greeting.
• Clearly state the purpose of your letter.
• Provide detailed information, supporting facts, or any necessary context.
• Break the content into paragraphs for clarity.
• Use a formal tone and avoid colloquial language.

Conclusion:

• Summarize key points.
• Clearly state any actions you expect the recipient to take.
• Express gratitude or appreciation if applicable.
• Use a formal closing (e.g., Sincerely, Yours faithfully).
• Leave space for your signature.

Enclosures:

• If you are including additional documents, mention them here.

Remember to customize the template based on the specific type of formal letter you are writing and the details of the situation. Additionally, it’s important to follow any specific guidelines or requirements provided by the recipient or organization.

Formal Letter Writing in Nigeria

FAQS About How to Write an Application Letter in Nigeria with Templates

The standard format for an application letter in Nigeria includes your contact information, the recipient’s contact information, a formal salutation, an introduction stating the purpose of an Application Letter in Nigeria, a body providing details about your qualifications and experiences, a conclusion summarizing your interest in the position, a formal closing, and your typed name.

How do I start an application letter in Nigeria?

You can start an application letter in Nigeria with a formal salutation such as “Dear Hiring Manager” or “Dear [Recipient’s Name],” followed by an introductory paragraph that expresses your interest in the position and briefly outlines your qualifications.

What should I include in the body of an Application Letter in Nigeria?

In the body of the application letter, you should include details about your relevant skills, experiences, and accomplishments that make you a suitable candidate for the position. You can also provide specific examples of how your past experiences align with the requirements of the job.

Do you have any templates for writing an application letter in Nigeria?

Yes, you can find templates for writing an application letter in Nigeria online or in career resources. These templates typically include the standard format and structure for an application letter, which you can customize with your own information and details.

What are some tips for writing an effective application letter in Nigeria?

Some tips for writing an effective application letter in Nigeria include researching the company or organization you’re applying to, tailoring your letter to the specific job requirements, highlighting your most relevant qualifications and experiences, proofreading carefully for errors, and being concise and professional in your writing.

A well-written application letter can increase your chances of being shortlisted for an interview or being admitted to a program. It should be concise, professional , and tailored to the specific job or program that you are applying for.

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HOW TO SET UP A MONEY LENDER COMPANY IN NIGERIA

KEY NOTES ON HOW TO SET UP A MONEY LENDER COMPANY IN NIGERIA

Introduction

From our experience in advising and assisting clients with business registration and licensing in Nigeria, money lender business is fast becoming very popular and widely embraced as an alternative solution to the problem of financial inclusion in Nigeria, particularly in form of micro lending or Buy Now Pay Later (“BNPL”).

With the advent and adoption of technology in the provision of money lending services, entrepreneurs are setting up, expanding and succeeding in money lending business with little start up requirements and a wide spectrum of market relevance in what otherwise appears to be a heavily regulated fintech ecosystem.

Money lender business, including BNPL, is a very highly underrated venture, yet a key player in the country’s micro credit system and promotion of economic advancement of a State through the small and medium enterprises.

In this article, we have highlighted below the requirements and procedure for registration of a money lender company at the Corporate Affairs Commission (“CAC”) and obtaining the operational certificate and license in Lagos State and the Federal Capital Territory (FCT), Abuja.

We have also highlighted key points on the subject in a question and answer format, for easy navigation and understanding by readers.

TEN (10) FREQUENTLY ASKED QUESTIONS ON MONEY LENDERS LICENCE IN NIGERIA

Who is a Money Lender?

As defined by Section 2 of The Lagos State Money Lenders Laws , a Money Lender includes:

Every person whose business is that of money lending or who carries on or advertises or announces himself or holds himself out in any way as carrying on that business whether or not that person also possesses or earns property or money derived from sources other than the lending of money and whether or not that person carries on the business as a principal or as an agent; but shall not include:

• Any society registered under a Cooperative Society Law;
• Any statutory corporation empowered by law to lend money;
• Banks or insurance companies or other licensed business which lends money in the course its operations; and
• Licensed pawnbroker.

Under the Nigerian law, it is an offence to engage in a money lending business without the required government licence and anyone found engaging in any activity of money lending, whether or not with the required licence, will be presumed to be a Money Lender and held liable under the law.

However, it is important to mention that in Lagos State, a money lender certificate and licence are usually granted to a corporate applicant who meets the requirements set by the Ministry of Home Affairs (as discussed below).

What is the scope of the Money Lending License ?

The respective State laws on money lending are silent on the scope of the certificate and license.

In our view, a money lender can loan any amount of money subject to the share capital of the Company provided there is nothing in the nature of transaction that violates laws and guidelines of institutions regulated by the Central Bank of Nigeria (“CBN”) or the Securities and Exchange Commission (“SEC”).

What Agency of Government is responsible for the grant of a Money Lender’s Licence?

Money lender’s certificate and licence are granted by a State Government agency authorised to do so within the State where the money lender company is doing or seeking to do business or the FCT, Abuja.

In Abuja, for instance, any of the Magistrate Courts in Abuja can grant both the licence and certificate to a money lender.

In Lagos, the certificate is granted by a Magistrate Court whilst the licence is granted by the Ministry of Home Affairs. The procedure in Lagos is more cumbersome than in any other State.

Can a digital lending company obtain a money lender licence in one State and use same to operate digitally in other States?

With the advent of technology, it is possible for the registered address of a money lender to be in one State whilst the business is potentially servicing customers from or residents in different other States of the country through digital lending applications.

Please note that a money lender company requires the money lender certificate and licence of every State in which they seek to operate either physically or digitally.

Failure to obtain money lender certificate and licence from a particular State where loans are given to customers will deprive the company the right to seek recovery or enforce a loan agreement in the State.

Also, the promoters of such business may be exposed to criminal liability for doing such business without regulatory licence. It is an offence to engage in money lending business in a State without the certificate and licence issued by the Government of that State.

MONEYLENDER’S LICENCE IN OYO STATE: REQUIREMENT, COST, PROCEDURE AND TIMELINE

HOW TO GET MONEY LENDERS’ LICENCE IN DELTA STATE

HOW TO GET MONEY LENDERS’ LICENCE IN PORT HARCOURT – RIVERS STATE

What are the requirements for registration of a Money Lending company in Nigeria?

It must be noted that in some States, an individual person can apply to be licensed as a money lender in his or her natural name.

However, in Lagos State, an applicant must be registered as a company with the CAC as a private limited liability company with a share capital of not less than N20 Million and at least two (2) adult directors.

Apart from any special requirements (which should be noted from the information below), the general requirements for setting up a private limited liability company in Nigeria are as follows:

i. Two (2) proposed names for the company for CAC’s name screening and approval;

ii. A proposed registered address, email and phone number of the company in Nigeria;

iii. Names, resident address, email address, phone number, electronic signature(s) and means of identification (preferably data page of international passport) of the shareholders, directors and company secretary;

iv. The amount of share capital (please note that the minimum share capital of a money lender company must not be less than N20 million share capital);

v. The division of the company’s shares amongst the shareholders and the names of person with significant control over the company;

vi. The description of business which must be solely for money lending services. However, we have successfully registered and obtained money lender licence for tech companies as a money lending businesses with additional business objects relating to development of mobile applications, technology services and use of lending technologies and other digital solutions;

vii. A copy of the company’s Memorandum and Articles of Association (“MEMART”). The CAC has a generic MEMART for applicants to adopt when incorporating a new company but we insert relevant clauses to make it suitable for the money lending businesses.

ix. Any other documents (such as work permit or business permit, etc.) as may be required by the CAC;

What are the Applicable Costs for Incorporating a Money Lender Company?

The costs of incorporation of a company in Nigeria are usually dependent on the amount of share capital of the company. This is because the share capital of a company attracts a stamp duty (payable to the Federal Inland Revenue Service) in addition to the incorporation or filing fee chargeable by the CAC.

The total of incorporation costs of a Money Lender company (i.e. a N20 Million share capital company) in Nigeria is about N305,000 (Three Hundred and Five Thousand Naira). The foregoing sum entails the CAC Registration Cost and Stamp Duty chargeable by Federal Inland Revenue Service (“FIRS”).

The incorporation by CAC costs about N105,161.25 (i.e. this is calculated by paying N10,000 cost for the first 1 million of the 20 million share capital and, then, paying N5,000 cost for every subsequent N1million of the remaining 19 million share capital, which will then mean N5,000 multiplied by 19, plus the initial N10,000 which ultimately equals to N105,000).

Also, as already mentioned above, stamp duty of N153,050 is payable to the Federal Inland Revenue Service on the N20 million share capital (this sum is determined by multiplying 0.75% by 20,000,000).

Both payments above are payable using the Federal Government Remita payment platform which charges about N161 per payment.

Post-incorporation costs for obtaining the certified true copy of already registered company’s documents and other miscellaneous expenses should not exceed N50,000.

How long does it take to complete the incorporation and licensing of a Money Lending company?

Registration of a company with CAC can be completed not more than 48hours using a fast track procedure at the CAC.

The tax registration, bank account opening and police report should not exceed 14 days both in Lagos and Abuja.

The grant of the certificate and licence should be accomplished in another 14 days in Abuja.

However, in Lagos, whilst the certificate may be achieved in 7 days, the grant of licence by the Ministry of Home Affairs may be longer because of its usual practice of visiting the applicant’s office for inspection before licensing.

HOW TO SET UP A DIGITAL LENDING COMPANY IN LAGOS

What are the requirements for obtaining money lenders’ license (for a company) in Lagos state?

1          Two Application Letters in the prescribed form on the letter head paper of the company: one to the Magistrate’ Court and the other subsequently to the Permanent Secretary of the Ministry of Home Affairs;

2          Certified True Copies of the Certificate of Incorporation, the Memorandum and Articles of Association (“MEMART”) of the Company and other CAC Forms showing the share capital of the company, the shareholder(s), the director(s), company secretary and other particulars. Please note that the MEMART must contain an object to the effect that the Company engages in the business of providing lending services to companies, individuals, etc.;

3          Three (3) years Tax Clearance Certificate (Lagos requirement only) of at least 2 Individual directors of the Company (if they are more than two directors). Please note that Lagos requires that the company must have at least two (2) adult directors. However, one (1) director is sufficient in order to obtain a money lender certificate and licence in Abuja;

4          Evidence of maintenance of a current account with a licensed bank in Nigeria;

5          Evidence of payment of Company Income taxes for 3 years (for old company);

6          Passport Photographs of the individual applicant (or of director of a corporate applicant) and means of identity;

7          Evidence of application for TIN (this is applicable only when it is a newly incorporated company).

8          Reference letter from the applicant’s bank.

9        Forms B and C from the Magistrate’s Court.

10        Police Clearance

TEN (10) FACTORS THAT CAUSE DELAY OR DENIAL OF MONEYLENDER’S LICENCE IN NIGERIA

What are the benefits of obtaining Money lending Certificate and Licen ce?

1. Right to institute an action in court to recover the principal loan and accrued interest from a defaulting borrower. It is an offence to lend money for purpose of attracting interests unless the lender has obtained a money lender’s certificate and licence.

2. Right to own moveable and immovable property in the company’s name.

3. Certificate and licence serve a huge added advantage and brand visibility.

4. It can attract serious investors and create an opportunity for business expansion if a money lending business is registered and licensed.

5. Protects the business and promoters from criminal liability for doing money lending business without regulatory licence.

What are the procedures for obtaining a Money Lender’s License in Lagos State?

1. The first step is to make a formal application on the Company’s Letter Head to the Commissioner of Police, Police Command, attaching the applicant company’s Certificate of Incorporation, MEMART and other CAC Forms showing the particulars of shareholders and directors of the company.

2.  Upon the above application, the Police will obtain the Applicant’s (or director’s) thumbprints for the purpose of issuing a Clearance Report to the Applicant.

3.  Thereafter, the applicant is required to make an application in a prescribed form to the Chief Magistrate located within the Magisterial District where the business is situated.

4. If the application is successful, a Money Lender Certificate ( Form B ) from the Chief Magistrate along with a Letter which would be addressed to the Permanent Secretary of the Ministry of Home Affairs, confirming due compliance, and recommending the issuance of the Money Lender Licence.

5.  Thereafter, a further application for a Money Lender Licence shall be made to the Ministry of Home Affairs and Tourism of the Lagos State Government attaching all the relevant documents.

6. The next stage is physical inspection of the money lender’s place of business by the officials from the Ministry of Home Affairs who, on an agreed date, will physically visit and inspect the premises and the officers of the Applicant company (including books and records where the applicant has already commenced operations).

7. Upon satisfaction by the official of the Ministry that the applicant has complied with the statutory requirements, the applicant will be issued with a Money Lender License for a period of one (1) year and shall be renewable every year.

What are the requirements and procedures for obtaining a Money Lender’s License in the FCT, Abuja?

The requirements for obtaining the Money Lending License in Abuja are the same with those applicable to Lagos State except that it is easier and faster to for an applicant to get the certificate and licence in Abuja.

Also, the procedures for application are slightly different in both cities. Whilst in Lagos State, the certificate is granted by a Chief Magistrate’s Court and, thereafter, the licence is granted by the Ministry of Home Affairs; in Abuja, both the certificate and licence are granted, at once, by the Chief Magistrate Court.

In Abuja, in order to obtain a money lender licence and certificate, an application shall be made to the Chief Magistrate Court in a prescribed manner and the applicant must provide the following documents:

1          A cover letter (i.e. an application Letter for Moneylender license and certificate, addressed to the Chief Magistrate, on the company’s letterhead paper with the company seal affix to the letter) attaching the relevant documents mentioned in the requirements above (same as Lagos State).

2         Police Clearance for the directors of the Company.

3          Evidence of Maintenance of current account with a licensed Bank in Nigeria.

4           The Chief Registrar of the Court will then open a file for the applicant, assign it to any Magistrate within the jurisdiction to consider the applicant’s application for money lender’s licence.

5          If the application succeeds, the moneylender’s license is issued to the applicant by the assigned Magistrate for a period of one (1) year and shall be renewable at the expiration of the license.

What is the estimated cost of obtaining a Money Lending License in Lagos State and Abuja?

In Lagos State, the estimated cost is about N400,000. The foregoing costs include the sum of N25,000 for Application Fee, and a Registration Fee of N200,000.00 (Two Hundred Thousand Naira) payable into the State Government’s Account. The other costs are associated with filing expenses at the Magistrate’s Court, obtaining Police Clearance Report for directors and other miscellaneous expenses.

In Abuja, the Chief Registrar of the Magistrate’s Court assesses the application based on the location of the money lending business and determines the costs payable by the applicant. From our experience, the assessment of license fee is always in the range of N200,000 whilst the costs associated with obtaining Police Clearance Report for directors and other miscellaneous expenses should not also exceed N200,000.

Please note that the above sums do not include the professional fees for registration of the company and processing the money lender certificate and licence.

What are the likely factors that delay or frustrate the success of application for money lender company’s incorporation and licensing process?

In our experience, the following factors have been noted amongst other reasons for the delay or frustration of the incorporation and licensing of a money lender company:

Factors associated with Delay in the Incorporation Process

1. Choosing a prohibited name for the proposed company delay or stall the incorporation by the CAC.

2. Inclusion of vague and wide object clause. For smooth incorporation process, it is advisable that the object clause should be limited to money lending services and not too wide to suggest inclusion of businesses under the supervision and regulation (and therefore requiring the approval in principle) of the Central Bank of Nigeria (“CBN”) or the Securities and Exchange Commission (“SEC”).

3. Technical glitch with the CAC Pre-Incorporation Portal may also slow down the process of registering a company.

4. Insufficiency of documentation. Foreign directors may require immigration documents if they use Nigerian address. Also, foreign or local corporate shareholder(s) may require certificate of incorporation and necessary resolutions for the consideration of the approving department of CAC. Failure to supply the required documents may lead to the incorporation application being queried and delayed.

5. Failure to supply mandatory information and other necessary details. For example, the details of Persons with Significant Control (PSC) of the company, the correct details of the shareholders, directors and company secretary as well as their respective means of identity and electronic signatures must be supplied to the CAC Pre-Incorporation Portal to avoid query of the registration application.

Factors Associated with Delay in the Licensing Process

1. Failure to provide the required supporting documents;

2. Failure to meet the share capital and directorship requirements;

3. Delay associated with opening bank accounts especially due to failure to provide necessary requirements including two (2) corporate bank references; or delay or inability of bank account officer to verify the money lender’s business address in order to activate the money lender company’s bank account;

4. Delay associated with processing biometric information of and Police Reports on directors especially where the biometric forms are not filled appropriately or where one director or a non-director attempts to fill the biometric data form on behalf of the (other) director(s).

5. Delay associated with scheduling office inspection by the Ministry of Home Affairs (for Lagos State) before granting a money lender licence. Please note that in Abuja, office inspection is not a requirement.

READ MORE BELOW:

REGISTRATION OF DIGITAL LENDERS WITH FEDERAL COMPETITION AND CONSUMER COMMISSION (FCCPC) IN NIGERIA

RENEWAL OF MONEY LENDER’S LICENCE IN NIGERIA

KORIAT’S UPDATE ON FINTECH LENDING LAW IN NIGERIA (AUGUST 2022)

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About KORIAT & CO.

We are a growing commercial law firm in Lagos and Abuja. The above article is not legal advice and does not automatically make our readers our clients unless they specifically instruct us to act or represent them in any way.

Please contact Koriat & Co. through [email protected] or 09067842241 if you require additional information about or assistance in making the application for a money lender’s licence.

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Loan Agreement

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A Loan Agreement , also known as a Loan Contract, is a contract where one party (called the "lender") will lend to another (called the "borrower") a sum of money (the loan).

The Loan Agreement outlines the parties to the loan, the amount which is loaned, the interest rate (if any), particulars of any property deposited as security for a loan (if any) and other terms and conditions which the parties intend to be bound.

There are different types of loans and this depends on the agreement between both parties to the agreement. The types of loans include bridge loans or short-term loans, long-term loans, secured loans, unsecured loans, fixed-rate loans, mortgages etc.

• A bridge loan is a short-term loan a party obtains for another to provide an immediate financial need. This type of loan is usually for a short period (e.g. 90 days) with a higher interest rate. For example, a company can decide to obtain this type of loan to provide working capital to cover employees' salaries.
• A long-term loan is a loan that is taken for a long period and is usually used to finance big projects and the interest rates are usually less than that of a bridge loan.
• A secured loan is the type of loan that requires the borrower to deposit properties such as cars, furniture, etc. A mortgage which is also a secured loan, is the type of loan that specifically requires the deposit of real properties such as lands or buildings. In both secured loans and mortgages, when the borrower fails to repay the loan with accrued interest at the end of the term or is in default, the lender has the right to sell the property to satisfy the debts.
• An unsecured loan is a loan that does not require the borrower to deposit any property as security for the loan.
• A fixed-rate loan is a loan that bears a fixed interest rate throughout the term of the loan.

How to use this document

This document can be used for a party who intends to give someone a sum of money with the intention that the money is repaid at a specified date with or without interest.

This document allows the form filler to create a simple loan agreement with the basic requirements and terms, such as particulars of the parties , principal sum , rate of interest , date of repayment of the loan , and obligations of parties to the loan. This document can also enable the form filler to insert terms and conditions the parties intend to comply with.

The following information will be required in this form:

• The Borrower

This is the party who accepts the money from the lender and undertakes that the principal will be repaid with interest (if interest is required). The form filler is required to fill in the full name and address of the borrowing party. The borrower can be a person or a registered entity . There could be more than one borrower in this agreement.

Note that if the borrower is a company, the memorandum and articles of association of the company must grant the company the power to borrow money.

The lender is the party giving the money to the borrower on the condition that the principal will be repaid at a specified date with or without interest. The form filler is required to fill in the full name and address of the lending party. The lender can be a person or a registered entity.

• The Principal

This is the total sum of money received by the borrower as a loan.

• The Interest Rate

This is the percentage of the loan that is charged as interest to the borrower. If the interest is charged on the loan amount, the percentage of interest charged must be included in this agreement.

This is the item pledged by the borrower as a guarantee of the fulfillment of the repayment of the loan . The borrower may deposit the title deeds of a real property to the lender who takes the title to the property when the borrower defaults in repaying the loan and interest. The borrower may also deposit personal properties like cars, jewelry etc , on the condition that in the event of default in repaying the principal and interest, the lender has the right to sell the security deposited to satisfy the loan and the interest.

Some loan agreements do not require that the borrower deposits anything as security for the loan. Sometimes, the borrower uses a guarantor who will undertake to repay all outstanding sums in the event of default by the borrower. Also, some parties agree that a lien be put on the borrower's bank account and the lender gets repaid from the registered account of the borrower in the event of default.

After filing this form, each party is required to sign the document and the parties must ensure that their signatures are witnessed by persons who are at least 18 years old . Where any of the parties is a company, the common seal of the company must be affixed on the document and the document must be witnessed by either two directors or one director and one secretary , who will sign the document. Where the lender has requested guarantors, the guarantors must read the document carefully and sign same. The signatures of the guarantors must also be witnessed by persons who have attained the age of 18.

Where the loan is a mortgage, the lender must register the mortgage at the Lands Registry of the State where that land is situated or at the Federal Ministry of Housing and Urban Development, if the land is federal land. In registering the mortgage, the parties will execute a deed of legal mortgage and accompany same with other documents.

Applicable laws

The general law of contract applies to this agreement. If the lender is a money lender, the Money Lender Act and Money Lender Laws of the various States in Nigeria will be applicable.

If the borrower will deposit any personal property (other than land or building) as security for the loan, the Nigerian Collateral Registry Act will be applicable, which states that such personal property must be registered. If it is a mortgage, the Conveyancing Act, Property and Conveyancing Law and other relevant property laws will be applicable.

How to modify the template

You fill out a form. The document is created before your eyes as you respond to the questions.

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A guide to help you: How to Recover Money from a Debtor

Other names for the document:

Acknowledgement of Debt, Acknowledgment of Loan, Agreement for Repayment of Loan, Agreement to Lend Money, Agreement to Loan Money

Country: Nigeria

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How To Write An Application Letter In Nigeria To Make Sure You’ll Get A Job

Applying to a job has become rather arduous and challenging task in our modern society. The demand for a position often a couple of times higher, than the supply, which make the authority of an employer the higher.

If you want to increase your chances in getting a job, you should try to impress the person you’re going to work for; you should try to stand out from the crowd. And the best instrument for this purpose is an application letter for a job .

Thus, a person does not normally apply for a new job position before they find a clear answer to the question “ How to write application letter for job vacancy in Nigeria ?”

But to do it right you need to know precisely how to write a good application letter in Nigeria . Here are a few pieces of advice, that will help you to do it right.

Find a job that will suit you with the help of the Jiji !

How to write an application letter : 6 steps

The question “ How do i write an application letter ? ” should not cause anxiety or panic. On the contrary, Nigerian job application for a cook and an application letter to INEC will look very similar due to the general formal letter format in Nigeria . Follow these directions to write an application letter for a job in Nigeria .

Let’s suppose you have already picked the vacancy from the list of job offers, read the description carefully, checked company’s background, and the last thing is to find out how to make an application letter to get this job

Do some more research

Read the description attentively one more time. Note the key requirements and duties. The application letter for employment should explain why you fit for the current job position, so you should focus on what is required during the letter writing process. In other words, match your skills with employer’s needs and describe it in an attractive form.

Create the lists

Take a separate piece of paper and write down your previous job positions in one column and duties in the other one. Then, list separately your soft and hard skills.

Every example of application letter is an extract from job history. Your letter of application should feature only what matters for the current vacancy. Take a pen and strike through what does is not important for an application letter for this particular job in this specific company . Leave only what is suitable and leave out all the rest.

After you know what to write in this application for employment letter , you should arrange the information in a proper way. Take a look at example of an application letter in Nigeria included above to get the understanding of Nigerian application letter format .

Remember that you are learning how to write a job application letter , so you should operate with facts, not literary devices. At the same time, remember about grammar and spelling – literacy always matters.

As you have already understood, there is no any single universal manual or any brand book on how to write an application letter for employment in Nigeria . As format for application letter is quite adaptive, you can alter the size, wordage, fonts etc.

Nevertheless, there is an unconventional rule for job application letter format : clarity. Thus, it should not be more than one page long, with 1” margins, single spaced, and use one of the traditional fonts (Times New Roma, Arial, or Calibri) between 10 and 12 points. Such formatting makes your application letter for employment suitable for every company in Nigeria .

The inseparable part of your “ how to write a formal letter in Nigeria ” quest is proffreading. There is hardly an employer, who will be glad to offer a job to a person, who writes with mistakes and typos.

Of course, you may be excited or nervous, for a single letter is going to decide the future of your career. Nevertheless, after saying to yourself “ I want to write an application letter, ” clear your mind and get ready to spend some time for proofreading and re-writing.

1. Be short and specific

A lot of employers and HR managers look only at the application letters without paying any attention to the CV at first, as they have a lot of people applying for the position.

2. State the benefits to the employer

One of the main tips on how to write an application letter is to skip the benefits the job will give you and focus on what you can offer for the job. Obviously, this point should be based upon the position you’re applying, so try avoiding cliché phrases. Think about what the employer expects you to do and to say.

3. Describe yourself

This doesn’t mean you should reveal your appearance, you should rather state your personal qualities in a way you couldn’t do in your resume. Your personality is important for any job you’re applying, and especially if it involves working in a team or with clients.

4. Address the letter directly to the person

Start your letter with “Dear Mr. Smith” or, if you don’t know the name of the person who is going to read your letter, “Dear Hiring Manager”. You can address the manager in the text by using pronouns. End the letter by informing the person, who reads it that you will be thrilled to hear from them.

5. General style

To know, how to write an application letter for a job vacancy , you need to understand the details of the style of the text you’re about to write.

6. Proofread

Already mentioned, this is one of the main thinks of “ how to write application lette r ” success formula.

Now you know how to write a letter , so put all your doubts aside and apply for your dream job right now.

What is job application letter

Application letter is a document that is usually mailed together with your CV. One or several application letters attached in your email are the short summary of your long list of experiences and qualifications.

Also known as cover letter for job application, it should explain, why exactly do you want to get the job you’re applying to and why your candidacy is the right choice for the company. If it is the first time job vacancy letter is required and you know nothing about how to write an application letter for a job , do not worry.

To get your point across the best way possible you need to follow the right format of application letter . Here is a sample of an application letter you can use when looking for a job in Nigeria .

This sample of job application letter may be very helpful for your job application in Nigeria . Nevertheless, do not forget that a sample cover letter for job application is not the only possible variant of Nigerian formal letter you can use.

Dealing with “ How to write an application letter? ” requires certain flexibility and sometimes creativity. The sample of application letter for employment in Nigeria will help to get thoughts together. Remember that every application for employment is unique, as it deals with individual achievements, skills, and experiences.

Consequently, your application letter can (and probably should) be a bit different. Do not hesitate to customize some parts if needed or to use elements from samples of application letters if you have found more samples of application letter in Nigeria .

Just remember that you are writing a business document, so your application letter format should not include metaphors, fiction etc.

How to write a cover letter for a job application : structure

Job application letter format in Nigeria and not only in Nigeria features several key elements – each obligatory, situated in its own fixed position, and with the specific purpose.

Every Nigerian application letter should begin with contact information, both yours and employer’s. A standard application letter for job includes name, address, phone number, email, and is followed by the date. A sample of application letter looks the following way:

Your Contact Information

• Your Address
• Your City, State, Zip Code
• Your Phone Number
• Your Email Address

Employer’s Contact Information

• City, State, Zip Code

The next part is greeting. According to formal letter format , it goes the following way: “Dear Mr./Ms. + Last Name.”

A standard Nigerian application letter consists of 3 body paragraphs.

• Mention the job you are applying for, where you have found the offer, and why it is interesting for you.
• This is the most important part of every job application letter . Describe your experience, accomplishments, and skills to prove they perfectly match the employer’s requirements.
• The final part of letter of application for employment should include thanks to the employer and follow-up information.

Complimentary close

The final  part of every cover letter for job application is a “formal farewell.” The sample of a closing part application letter in Nigeria can look like this:

• Best regards,
• Your LinkedIn Profile URL

This is the generally accepted application letter format in Nigeria , which can be used as a manual for any company.

• application letter
• Cover Letter
• information
• interesting
• personality

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