The challenge faced before the school availed our education finance loan product

Other banks were not willing to fund The Kempop School for its building project without a Certificate of Occupancy. The maximum loan tenure of other banks for the required volume of loan was 90 days, which was a time frame too short for it to repay with interest.

The loan product availed

EdFin Asset – A School Infrastructure Improvement Loan for N 2 million that was disbursed on 19th September, 2019 for a loan tenure of 12 months. Instead of giving a Certificate of Occupancy demanded by commercial banks, EdFin MfB accommodated our loan request by asking us for alternative collateral such as school assets, 2 school buses, and household goods.

The Kempop School with its newly constructed first floor

Students enjoying their learning experience in the new classrooms at The Kempop School

School Metrics

298

No. of School Students

20

No. of Class Teachers

18

No. of Classrooms

45,000 Naira

Annual School Fees

Creche, Nursery to Primary (Std. I to VI)

Education Provided

Usage of funds

The loan was used by The Kempop School to complete the school building project specifically for roofing, floor tiling, making of aluminium windows, buying 4 toilets (WCs) and for plumbing work.The 1st floor of the building has 7 classrooms with capacity to seat number of 140 pupils.

How the School benefited

The loan was sanctioned at a time when everything looked very bleak for the school management, as they we were close to resumption of the school term and there was no space to accommodate the students. Pupils enjoyed the more comfortable classrooms while parents developed more trust and interest in the school. Everyone was happy.

School Infrastructure Improvement Loans

Thinking of upgrading facilities at your school library, computer lab or sports facility? Avail our loans