At Direct Bridge , we offer fast and convenient loans at affordable rates to meet your personal and business needs
Personal Loan
Why wait for Pay-day when you can get paid NOW.
Our personal loans are specifically designed for SALARY EARNERS with flexible repayments ranging from 3 – 12 months to help you cater for those expense that can’t wait till pay-day.
Whatever the emergency is, we have got you covered. Get a personal loan to pay your medical bill, rent, school fees or even a new car!
Requirements;
1. Proof of employment
2. Work ID card
3. Valid ID (Voter’s card, Driver’s License, NIMC, International Passport)
4. 6 months’ bank statement (To be sent by your bank to statements@directbridgeng.com OR authorize us spool it)
** No Guarantor/Collateral Required
The Borrower may terminate the Loan Agreement and repay back all or any part of the borrowed amount on any day before the scheduled maturity date, by paying to the Bank, all interest, fees and other monies then accrued or due under this Agreement to the date of early repayment (whether or not yet payable). The Borrower should be further aware that the Bank shall apply a 2.5% interest rate calculation on the remainder of the outstanding principal amount as at the date of early repayment
The Bank agrees to advance the Loan and the Obligor agrees to take the loan subject to the terms and conditions as set out in the loan application form and also herein in this offer letter.
The Obligor agrees to repay the Loan (principal plus accrued interest) in accordance with the terms and conditions of this letter..
Interest
The repayment instalments as calculated in the dedicated repayment schedule are done on the basis of payment at regular agreed intervals. If the due date for a repayment instalment falls on a non business day, then the repayment instalment may be paid on the next succeeding business day.
Additional interest may accrue in such cases.
Direct Bridge NIG. LTD will calculate interest on the daily balance outstanding (after adjustment is made for cheques in the course of collection).
Direct Bridge NIG. LTD shall compound interest on the loan at such interval as it shall solely in its discretion determine.
Where the Obligor fails to pay Direct Bridge NIG. LTD a repayment instalment by the due date. Direct Bridge NIG. LTD will charge default interest rate at 2.5% per month on the unpaid sum.
Direct Bridge NIG. LTD will apply default interest rate from the date on which the Obligor was due to pay the sum.
The default interest rate
is charged by Direct Bridge NIG. LTD in addition to the normal interest rate which it charges the Obligor at the same time and in the same manner as that normal interest.
accrues before and after any court judgment, Direct Bridge NIG. LTD obtains against the Obligor
is liquidated damages to compensate Direct Bridge NIG. LTD for the additional risk and other administrative costs and expenses associated with the Obligor's failure to pay the outstanding sum.
This offer is subject to a satisfactory credit report and further verification checks. In event that your application is unsuccessful, your documents shall be returned to you.
Representations and Warranties
The Obligor represents and warrants that:
He/she has the right to accept this facility and has taken all necessary actions to authorize same upon the terms and conditions herein.
He/she is not in default under any obligation in respect of any borrowed money that the acceptance of this facility will be or result in breach of or default under any provision of any other agreement to which the Obligor is a party.
The information given to Direct Bridge NIG. LTD verbally or in writing in the formal loan application form is true and accurate
He/she will use the loan for the purpose(s) they told Direct Bridge NIG. LTD of in their application for the loan.
Events of Default
The occurrence of any of the following events shall cause all outstanding amounts under this facility to become immediately due and payable:
The Obligor fails to make a repayment or payment of principal, interest or other amount in respect of the loan on the date it was due to be paid; or
The Obligor breaches any of the terms and conditions of the Loan including any representation or confirmation given by the Obligor in this loan agreement.
Where a bankruptcy petition is filed against the Obligor.
Where the Obligor is unable to pay any other party within the meaning of Section 1 of the Bankruptcy Act (Cap 30) Laws of the Federation of Nigeria.
Where a situation arises which in the opinion of Direct Bridge NIG. LTD makes it inappropriate for Direct Bridge NIG. LTD to continue to extend the facility to the Obligor.
Where the Obligor defaults in the performance or observance of any other term, condition or covenant herein and such breach or default shall continue unremedied after ten days' notice shall have been given to the Obligor.
Costs and Expenses
The Obligor hereby agrees to pay all administrative costs, charges and expenses (including legal fees) reasonably incurred by Direct Bridge NIG. LTD in connection with the processing of this loan request
The Borrower hereby agrees to pay Two Thousand Naira (N2000) in the event that any of repayment instruments issued by them in favour of Direct Bridge NIG. LTD Limited is returned unpaid
The Obligor hereby agrees to pay all costs and expenses (including legal fees) incurred by Direct Bridge NIG. LTD in connection with any proceedings instituted by or against Direct Bridge NIG. LTD as a consequence of entering into this loan agreement
Assignment and Disclosure of Information
The Obligor consents irrevocably to any future transfer and assignment, however arising of the loan, whether as part of a loan transfer scheme or otherwise.
The Obligor authorizes Direct Bridge NIG. LTD to disclose any information or documentation relating to the loan to third parties including credit reference agencies, collection agencies, as well as the Obligor's employers (where the Obligor is in salaried employment) in the event that the loan has ceased to be serviced by the Obligor.
Variation of Conditions
Direct Bridge NIG. LTD reserves the right at all times to vary the terms and conditions of the loan agreement. Any such variation will become effective upon notice to the Obligor by any means Direct Bridge NIG. LTD considers reasonable in the circumstance.
Set Off
Direct Bridge NIG. LTD may at any time with or without notice (a) combine or consolidate some or all of the Obligor's accounts with it without any liability to Direct Bridge NIG. LTD and (b) set off and transfer any sum standing to the credit of any such account in full or partial payment of any amount the Obligor owes to the Bank,
This clause is in addition to and does not amend or qualify any other present or future right of Direct Bridge NIG. LTD to combine or set off any of the Obligor's accounts with it.
Governing Law
This loan agreement is governed by Nigerian law and the courts of the Federal Republic of Nigeria have jurisdiction in any matter arising from it.
The Borrower may terminate the Loan Agreement and repay back all or any part of the borrowed amount on any day before the scheduled maturity date, by paying to the Bank, all interest, fees and other monies then accrued or due under this Agreement to the date of early repayment (whether or not yet payable). The Borrower should be further aware that the Bank shall apply a 2.5% interest rate calculation on the remainder of the outstanding principal amount as at the date of early repayment
The Bank agrees to advance the Loan and the Obligor agrees to take the loan subject to the terms and conditions as set out in the loan application form and also herein in this offer letter.
The Obligor agrees to repay the Loan (principal plus accrued interest) in accordance with the terms and conditions of this letter..
Interest
The repayment instalments as calculated in the dedicated repayment schedule are done on the basis of payment at regular agreed intervals. If the due date for a repayment instalment falls on a non business day, then the repayment instalment may be paid on the next succeeding business day.
Additional interest may accrue in such cases.
Direct Bridge NIG. LTD will calculate interest on the daily balance outstanding (after adjustment is made for cheques in the course of collection).
Direct Bridge NIG. LTD shall compound interest on the loan at such interval as it shall solely in its discretion determine.
Where the Obligor fails to pay Direct Bridge NIG. LTD a repayment instalment by the due date. Direct Bridge NIG. LTD will charge default interest rate at 2.5% per month on the unpaid sum.
Direct Bridge NIG. LTD will apply default interest rate from the date on which the Obligor was due to pay the sum.
The default interest rate
is charged by Direct Bridge NIG. LTD in addition to the normal interest rate which it charges the Obligor at the same time and in the same manner as that normal interest.
accrues before and after any court judgment, Direct Bridge NIG. LTD obtains against the Obligor
is liquidated damages to compensate Direct Bridge NIG. LTD for the additional risk and other administrative costs and expenses associated with the Obligor's failure to pay the outstanding sum.
This offer is subject to a satisfactory credit report and further verification checks. In event that your application is unsuccessful, your documents shall be returned to you.
Representations and Warranties
The Obligor represents and warrants that:
He/she has the right to accept this facility and has taken all necessary actions to authorize same upon the terms and conditions herein.
He/she is not in default under any obligation in respect of any borrowed money that the acceptance of this facility will be or result in breach of or default under any provision of any other agreement to which the Obligor is a party.
The information given to Direct Bridge NIG. LTD verbally or in writing in the formal loan application form is true and accurate
He/she will use the loan for the purpose(s) they told Direct Bridge NIG. LTD of in their application for the loan.
Events of Default
The occurrence of any of the following events shall cause all outstanding amounts under this facility to become immediately due and payable:
The Obligor fails to make a repayment or payment of principal, interest or other amount in respect of the loan on the date it was due to be paid; or
The Obligor breaches any of the terms and conditions of the Loan including any representation or confirmation given by the Obligor in this loan agreement.
Where a bankruptcy petition is filed against the Obligor.
Where the Obligor is unable to pay any other party within the meaning of Section 1 of the Bankruptcy Act (Cap 30) Laws of the Federation of Nigeria.
Where a situation arises which in the opinion of Direct Bridge NIG. LTD makes it inappropriate for Direct Bridge NIG. LTD to continue to extend the facility to the Obligor.
Where the Obligor defaults in the performance or observance of any other term, condition or covenant herein and such breach or default shall continue unremedied after ten days' notice shall have been given to the Obligor.
Costs and Expenses
The Obligor hereby agrees to pay all administrative costs, charges and expenses (including legal fees) reasonably incurred by Direct Bridge NIG. LTD in connection with the processing of this loan request
The Borrower hereby agrees to pay Two Thousand Naira (N2000) in the event that any of repayment instruments issued by them in favour of Direct Bridge NIG. LTD Limited is returned unpaid
The Obligor hereby agrees to pay all costs and expenses (including legal fees) incurred by Direct Bridge NIG. LTD in connection with any proceedings instituted by or against Direct Bridge NIG. LTD as a consequence of entering into this loan agreement
Assignment and Disclosure of Information
The Obligor consents irrevocably to any future transfer and assignment, however arising of the loan, whether as part of a loan transfer scheme or otherwise.
The Obligor authorizes Direct Bridge NIG. LTD to disclose any information or documentation relating to the loan to third parties including credit reference agencies, collection agencies, as well as the Obligor's employers (where the Obligor is in salaried employment) in the event that the loan has ceased to be serviced by the Obligor.
Variation of Conditions
Direct Bridge NIG. LTD reserves the right at all times to vary the terms and conditions of the loan agreement. Any such variation will become effective upon notice to the Obligor by any means Direct Bridge NIG. LTD considers reasonable in the circumstance.
Set Off
Direct Bridge NIG. LTD may at any time with or without notice (a) combine or consolidate some or all of the Obligor's accounts with it without any liability to Direct Bridge NIG. LTD and (b) set off and transfer any sum standing to the credit of any such account in full or partial payment of any amount the Obligor owes to the Bank,
This clause is in addition to and does not amend or qualify any other present or future right of Direct Bridge NIG. LTD to combine or set off any of the Obligor's accounts with it.
Governing Law
This loan agreement is governed by Nigerian law and the courts of the Federal Republic of Nigeria have jurisdiction in any matter arising from it.
