In our previous post, we discussed solar financing companies in Nigeria, where we listed top solar financing companies in Nigeria, like Access Switch to Solar financing option, where Access Bank allows Nigerians to access up to N200m to finance their solar system project.
In this article on Access Bank Solar Financing Requirements, we are going to narrow our discussion to the major requirements that you need to get an Access Bank solar financing loan. Access Bank has different solar financing requirements for both salaried employees and businesses. This means that if you are a salary earner, the requirement that you will need to get an Access Bank solar loan will be different from another interested party who is a business owner.
Access Bank Solar Financing Requirements
As we noted in the introduction, there are categories of requirements for salaried employers and business owners who are interested in the Access Switch to Solar loan. We are going to take the requirements one after the other.
Access Bank Solar Financing Documentation Requirements for Salaried Employees
If you are employed and earn salary monthly, the documents that you will need to apply and get the Access Switch to Solar loan are
- Pro forma invoice from approved vendors addressed Access Bank/Customer’s name
- Completed lease Application form
- Copy of employment ID card
- Blank transfer of ownership
Access Bank Solar Financing Documentation Requirements for Businesses
If you are business owner, whether private or public, and you to get Access Bank solar loan, the basic requirements are
- Completed lease Application form
- Personal guarantee and statement of net worth of a Credible guarantor
- Evidence of Company Registration documents with CAC
- Simple resolution – for enterprises & board resolution – for incorporated companies
- 3 years of audited financial statements or 2 years of audited financial statements and 1 year of management accounts (for facilities of 20m and above).
Once you meet the above requirements, you can fill out the interest form at accessbankplc.com. The basic details that you will need to fill in in this interest form are
- Full name
- Phone number
- Email address
- Access Bank account number
- -AccessClosest branch for non-Access Bank customers
- Choose whether you are a salary earner or business owner
- Your monthly income
- The currency that you often get paid in.
After filling out his form, you will then submit it, and Access Bank staff will then contact you for further direction.
How much is Access Bank switch to solar?
The Access Bank switch to solar allows customers to get up to a ₦30,000,000 loan to finance their solar project. This loan attracts 3% to 6% monthly interest and has a repayment plan of 48 months. Meanwhile, you will need to make a down payment of 10% of the amount you want to borrow before you can access this loan.