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Frequently Asked Questions
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Who are we?
Circlesfundme is a registered digital Savings and Loans Cooperative Society. Our vision is to become a CBN-licensed asset Finance company within five years, starting from the year 2025/2030.
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Who can be a member?
Anyone with a verifiable, legitimate source of income who can sustain weekly/monthly savings to build a 10% Equity Contribution to qualify for for our asset finance loans.
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Who can get loans from us?
Only qualified registered members.
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How much loan can a member access?
400x times the amount of their weekly/monthly savings.
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How much does a member need to have to be able to access a loan?
10% of their expected maximum Loan amount.
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How much interest does the loan attract?
The loan is interest-free. However, loan beneficiaries will pay 6% per annum as Loan Management Fees.
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What can the loan be used for?
Auto Finance, Shop Acquisition scheme in any market in Nigeria, Loan Refinance scheme via a sales and lease back contract.
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Are there any monthly fees?
Yes, all members will pay a nonrefundable membership service charge.
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Do you need a guarantor for the loan?
Yes.
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How can a person become a member?
Online via our website www.circlesfundme.com.
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Do you have any other further inquiries about Circlesfundme?
Call 07033319394 08055357592 or message on WhatsApp 2347033319394 2348055357592.
Office Address: Road 116, House 8, Gwarinpa Abuja. -
How long does it take a member to access an asset finance loan after saving the 10% Equity Contribution?
Immediately.
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Can a member pay the 10% Equity Contribution at once ?
Yes , but you need a minimum membership period of 3 months before you can access our asset finance loan
