Frequently Asked Questions

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Frequently Asked Questions

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  • Am I eligible for a Gare loan?

    To qualify for a loan, you must be:
     Be between 18 – 59 years old
     Have a verifiable source of income
     Live and /or work in cities where we operate
     Have a savings or current bank account with any commercial bank

  • How much can I borrow?


     Salary advance – 50% of net income for up to 30 days
     Personal loan – N100,000.00 to N1, 000, 000.00 for up to 30 – 180 days
     Business loan – N100,000.00 to N5,000, 000.00 for up to 30 to 90 days

  • What documents do I need to apply for a loan?

    Salary Advance loan:
     Passport photograph
     Utility bill
     Office ID card
     6 months statement of account
     undated signed cheques for the number of months
     Employment letter
     Personal Loan:
     Passport photograph
     Utility bill
     Office ID card
     6 months statement of account
     Undated signed cheques for the number of months or Indemnity form
     Employment letter (Applicant only)
     Business Loan::
     Passport photograph
     Utility bill
     Office ID card
     6 months statement of account
     Undated signed cheques for the number of months or Indemnity form
     CAC documents showing the applicant name as the owner

  • Why does Gare advance need my BVN

    This is a CBN policy applicable to financial institutions as part of KYC requirements.

  • Why was I offered a less than what I applied for?

    Your debt-to-income ratio may not be able to accommodate your loan request. We will make an offer that will make repayment convenient for you.

  • What are the acceptable Colletaral for loans?


     Car documents with car keys
     Operating machines (that is machines used in business operations, applicable to business loans only)
     Domiciliation of payment to Gare Advance for L.P.O financing
     Corporate guarantee
     Gold
     Stock and shares

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