Microfinance Bank Loan In Nigeria

Are you looking for Microfinance Bank Loan In Nigeria then this article is for you about all the information and necessary details .

Microfinance banks were set up to aid individuals as well as small and medium-sized businesses (MSMEs) in getting credit facilities for their personal use as well as for their business.

The borrowers of Microfinance loan are charged interest on these loans. The rate of interest and time period can vary between 3%-6 percent and from 1 to 12 months, in accordance with the size of the loan.

What should you do prior to making an application for a loan with the Microfinance Banks located in Nigeria;

  • Create an account at the bank. Many banks require potential lenders that they have an existing account that is active and maintained for at least six months.
  • For owners of businesses ensure that you’ve done a thorough study of the company.
  • The business should be operational over a minimum of one year , and be based at the same address for six months.

Documents needed in order to apply for a microfinance bank loan in nigeria

  • Form for loan application
  • Valid identification means
  • A copy of the latest utility bill
  • Recent passport photographs
  • The evidence of the location of the business
  • Business records and bank statements
  • Collaterals (Not in all instances)
See also  Low Interest Loan In Nigeria

Microfinance Banks That Offer Loan In Nigeria

The list of some of the most popular microfinance banks that give loans to salary earners are:

  1. Lapo microfinance bank
  2. Purple money microfinance bank
  3. CIT microfinance bank
  4. AB Microfinance bank 
  5. Grooming microfinance bank 
  6. Addosser Microfinance bank
  7. Asset Microfinance bank
  8. Bowen Microfinance Bank
  9. Capstone Microfinance Bank
  10. Cardinal Rock Microfinance Bank
  11. Cashconnect Microfinance Bank Ltd 
  12. Cedar Microfinance Bank
  13. Chanelle Microfinance Bank
  14. CIT Microfinance Bank
  15. Corestep Microfinance Bank
  16. Cowries Microfinance Bank
  17. Credit Afrique Microfinance Bank
  18. Credit Express Microfinance Bank
  19. Crossover Microfinance Bank
  20. Daylight Microfinance Bank
  21. Desmonarchy Microfinance Bank limited 
  22. Echo Microfinance Bank
  23. Edo Microfinance Bank
  24. Empire trust Microfinance Bank
  25. Enrich Microfinance Bank limited 
  26. FFS Microfinance Bank
  27. Finatrust Microfinance Bank
  28. Finex Microfinance Bank
  29. First Option Microfinance Bank
  30. Flourish Microfinance Bank
  31. Fortress Microfinance Bank
  32. Giant strides Microfinance Bank
  33. Global Initiative Microfinance Bank
  34. Glory Microfinance Bank
  35. Green energy Microfinance Bank
  36. Hackman Microfinance Bank
  37. Headway Microfinance Bank
  38. High street Microfinance Bank
  39. GTI Microfinance Bank
  40. IBILE Microfinance Bank
  41. Ipodo-Ikeja Microfinance Bank
  42. Island Microfinance Bank
  43. Jessefield Microfinance Bank
  44. Kayvee Microfinance Bank
  45. Kudimoney Microfinance Bank
  46. Lawebod Microfinance Bank
  47. Leadcity Microfinance Bank limited 
  48. Letshego Microfinance Bank
  49. Lifegate Microfinance Bank
  50. Links Microfinance Bank
  51. Magnet Microfinance Bank
  52. Main trust Microfinance Bank
  53. Mainstreet Microfinance Bank
  54. Manny Microfinance Bank limited 
  55. Lovonus Microfinance Bank
  56. Maritime Microfinance Bank
  57. Sunrise Microfinance Bank
  58. Supreme Microfinance Bank
  59. Surbpolitan Microfinance Bank
  60. Susu Microfinance Bank
  61. Touchgold Microfinance Bank
  62. Townserve Microfinance Bank
  63. Treasures Microfinance Bank
  64. TCF Microfinance Bank
  65. Ultimate Microfinance Bank
  66. VCL Microfinance Bank
  67. Verdant Microfinance Bank
  68. Verite Microfinance Bank
  69. VFD Microfinance Bank
  70. Wesley Microfinance Bank
  71. Vineland Microfinance Bank
  72. Virtue Microfinance Bank
  73. XSLNCE 
  74. YCT Microfinance Bank
  75. Zikado Microfinance Bank
  76. NPF Microfinance Bank
  77. Okengwe Microfinance Bank
  78. Oros Capital Microfinance Bank
  79. Owotutu Microfinance Bank
  80. Parallex Microfinance Bank
  81. Parkway Microfinance Bank
  82. Pecan Trust Microfinance Bank
  83. Penny wise Microfinance Bank
  84. Personal trust Microfinance Bank
  85. Petra Microfinance Bank
  86. Projects Microfinance Bank
  87. Providence Microfinance Bank
  88. Primera Microfinance Bank
  89. Purple money Microfinance Bank
  90. Rhehoboth Microfinance Bank
  91. Renmoney Microfinance Bank
  92. Ric Microfinance Bank
  93. Richway Microfinance Bank
  94. Pyramid Microfinance Bank
  95. Qube Microfinance Bank
  96. Reliance Microfinance Bank
  97. Rigo Microfinance Bank
  98. Royal blue Microfinance Bank
  99. Royal Exchange Microfinance Bank
  100. Safe Gate Microfinance Bank
  101. Seed Capital Microfinance Bank
  102. Shalom Microfinance Bank
  103. Shepherd Trust Microfinance Bank
  104. Snow Microfinance Bank
  105. Solid Allianze Microfinance Bank
  106. Solid trust Microfinance Bank

Leave a Comment

error: Content is protected !!