GoldenNewsNG
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us
No Result
View All Result
Golden News
No Result
View All Result

Business loans: List of Microfinance Banks that can give you up to N5 million easily

Enudi Golden by Enudi Golden
January 11, 2024
in business, Featured, Headline, Technology
Reading Time: 3 mins read
How To Easily Access NPF Microfinance Bank Loans (Non-Collateral) - Direct Link to Apply
185
SHARES
Advertisements

Business loans: This article contains List of Microfinance Banks that can give you up to N5 million easily and how to apply for them.

What efforts is the Nigerian government making to alleviate the effects of the Coronavirus epidemic in Nigerians and their businesses?

Businesses often fail because of insufficient capital to kickstart operations, sustain the business or scale. Despite the crucial role that MSMEs play in the economy, particularly in developing nations like Nigeria, they are usually disadvantaged when it comes to sourcing funds from big commercial banks.

READ ALSO

Call for Applications: NMFB “Cash Now-Now” Loan 2025 – Up to ₦300,000 for Petty Traders, Kiosk Owners & Artisans

Can You Teach Students Your Skill? Get Paid to Train Under FG TVET Program – See How to Register & Full Requirements

Microfinance banks (MFBs), on the other hand, provide easier access to financial services including Business loans the  to a large segment of small businesses and enterprises who would otherwise have little or no access to these facilities.

Business loans: List of Microfinance Banks that can give you up to N5 million easily

1. AB Microfinance Bank

AB Microfinance Bank Nigeria offers entrepreneurs the opportunity to easily access loans in a quick, transparent and efficient environment.

 

Features and benefits of AB Microfinance Bank loan

  • Loans from NGN3,000,000 to NGN20,000,000 for your existing business
  • Competitive interest rate starting from 3.0% monthly on reducing balance
  • Disbursement fee of 1.0% of the loan amount
  • Maturity period from 6 to 24 months with equal monthly instalments
  • Broad range of collateral items accepted
  • Upon submission of all required documents, loan disbursement is guaranteed within 3 working days

2. LAPO Microfinance Bank

The LAPO Microfinance Bank “SME Loan” is a credit product designed specifically to support Small and Medium Scale Enterprise (SME) operators in Nigeria.

Licensed by CBN in 2010, LAPO Microfinance bank has focused on developing small businesses in Nigeria. With over 1 million entrepreneurs empowered, LAPO microfinance bank has provided entrepreneurs with reliable microfinance services.

Irrespective of the sector your enterprise is operating, LAPO MfB is willing to support you with credit facility up to N5,000,000 to expand the enterprise at reasonable interest rates

Lapo MFB Loan Requirements

Loan application letter
Duly completed application form
2 guarantors
A valid means of ID (national ID, driver’s license, voter’s card or international passport)
Current utility bill
4 recent passport-size photographs

Lapo has various kind of loan, we are going to be discussing it to enable you know that loan application that suit your business.

Benefits:

No collateral
Access to funds for your business expansion
Flexible repayment structure
Training on basic financial management, business planning and customer relations
Expert financial advice available when you need it

3. RenMoney

Renmoney, it is a fintech lending company operating with a Microfinance Banking license in Lagos. The company is passionate about leveraging technology to deepen financial inclusion. They offer personal and business loans from ₦6,000 to ₦6,000,000 to employees and entrepreneurs; as well as high-interest savings and fixed deposits

With Renmoney, you can apply for a loan of ₦6,000 – ₦6,000,000 without collateral and repay in 3 -24 months. Monthly interest rates range from 2.4% – 9.33% and the maximum Annual Percentage Rate (APR) is 35.76%. No other fees are charged.

Features and benefits of RenMoney Microfinance bank loan

  • Fast and convenient loans from ₦6,000 – ₦6,000,000
  • Flexible repayments from 3 – 24 months
  • Money in your bank account in minutes
  • Lower rates and longer tenure on your next loan
  • No paperwork
  • No collateral or guarantor needed
  • No hidden charges – you always see your loan terms before you commit

Renmoney Loan Requirements

  1. You must fall within ages 22-59 years.
  2. You must have an existing and active bank account with a commercial bank in Nigeria.
  3. Must be well paid as an employee or own a thriving business
  4. Both the employee and business owner must verify their monthly income and must have a clean credit bureau.
  5. Your statement of account for up to six months is required, and there must be no issues of a returned cheque.
  6. Have a recent passport photo and an identity card to prove that you’re a staff of your organisation.

 

📢 JOIN OUR WHATSAPP GROUP 📢 JOIN OUR TELEGRAM CHANNEL
Previous Post

Canada PR without Job Offer | Easy Entry for Skilled Workers

Next Post

Igbo Leaders Reject IPOB’s Call For Referendum

Related Posts

Call for Applications: NMFB “Cash Now-Now” Loan 2025 – Up to ₦300,000 for Petty Traders, Kiosk Owners & Artisans

Are you a petty trader, artisan, or kiosk owner in Nigeria struggling with capital? The NIRSAL Microfinance Bank (NMFB) has...

Read moreDetails

Can You Teach Students Your Skill? Get Paid to Train Under FG TVET Program – See How to Register & Full Requirements

Can You Teach Students Your Skill? Get Paid to Train Under FG TVET Program – See How to Register & Full Requirements

Do you have a skill you can confidently teach others, like fashion design, barbing, hairdressing, baking, plumbing, tech, or tailoring?...

Read moreDetails

FME TVET Application Portal opens for New Applications – Step-by-Step Guide to Apply for TVET Program  Receive ₦45,000 Monthly Stipend

FME TVET Application Portal 2025 – Step-by-step guide to apply for Technical and Vocational Education Training in Nigeria with ₦45,000 monthly stipend"

The FME TVET Application Portal has reopened for new applications, and here is how you can submit yours. The Federal...

Read moreDetails

Download: NDA Shortlisted Candidates List, 77RC AFSB 2025

Download: NDA Shortlisted Candidates List, 77RC AFSB 2025

NDA Releases List of Successful Candidates for 77 Regular Course, Announces Interview Schedule The Nigerian Defence Academy (NDA) has published...

Read moreDetails

JUST IN : Court Grants Senator Natasha Bail – Fixes Date For Trial

JUST IN : Court Grants Senator Natasha Bail - Fixes Date For Trial

The Federal Capital Territory (FCT) High Court in Maitama has granted bail to suspended Senator Natasha Akpoti-Uduaghan, who is facing...

Read moreDetails

BREAKING: FDA Approves New Twice-Yearly HIV Prevention Shot, Yeztugo

HIV prevention shot

The United States has approved a new HIV prevention shot that requires just two injections per year — a significant...

Read moreDetails

NNPC/TotalEnergies Scholarship 2025: Fully Funded Opportunity for 100 & 200 Level Undergraduate Students in Nigeria – APPLY HERE 

NNPC/TotalEnergies Scholarship 2025: Fully Funded Opportunity for 100 & 200 Level Undergraduate Students in Nigeria - APPLY HERE 

Are you a Nigerian undergraduate student in your first or second year of study? If yes, there's a golden opportunity...

Read moreDetails

NELFUND Loan: FG Orders Nigerian Tertiary Institutions to Refund Tuition Fees Paid by Students

FG mandates refund of tuition fees for NELFUND loan recipients"

The House of Representatives has directed all tertiary institutions in Nigeria to refund tuition fees collected from students who later...

Read moreDetails

CreditCorp disburses loans to 100,000 Nigerians in six months- See How to Apply

CREDICORP Disburses Loans to 100,000 Nigerian

CREDICORP Disburses Loans to 100,000 Nigerians in 6 Months — See How to Apply   Barely six months after receiving...

Read moreDetails

CREDICORP to Provide Consumer Credit for All Working-Class Nigerians

CREDICORP Disburses Loans to 100,000 Nigerian

CREDICORP to Provide Consumer Credit for All Working-Class Nigerians   The Nigeria Consumer Credit Corporation (CREDICORP) has unveiled an ambitious...

Read moreDetails
Load More
Next Post
Igbo Leaders Reject IPOB’s Call For Referendum

Igbo Leaders Reject IPOB’s Call For Referendum

SEARCH ADS

Latest Posts

Headline

Call for Applications: NMFB “Cash Now-Now” Loan 2025 – Up to ₦300,000 for Petty Traders, Kiosk Owners & Artisans

Step-by-Step Guide: How to Apply for NAPEP 2025
News

National Poverty Eradication Recruitment Program (NAPEP)2025 – Application Guide for Interested Nigerians

Federal Government LEEP Program 2025 – Apply Now for Skills Training, Job Opportunities & Empowerment
Jobs

Federal Government LEEP Program 2025 – Apply Now for Skills Training, Job Opportunities & Empowerment

Can You Teach Students Your Skill? Get Paid to Train Under FG TVET Program – See How to Register & Full Requirements
Education

Can You Teach Students Your Skill? Get Paid to Train Under FG TVET Program – See How to Register & Full Requirements

FME TVET Application Portal 2025 – Step-by-step guide to apply for Technical and Vocational Education Training in Nigeria with ₦45,000 monthly stipend"
Headline

FME TVET Application Portal opens for New Applications – Step-by-Step Guide to Apply for TVET Program  Receive ₦45,000 Monthly Stipend

Download: NDA Shortlisted Candidates List, 77RC AFSB 2025
Headline

Download: NDA Shortlisted Candidates List, 77RC AFSB 2025

JUST IN : Court Grants Senator Natasha Bail - Fixes Date For Trial
Crime

Defamation Drama: Natasha Faces Court Over Claims Against Akpabio

JUST IN : Court Grants Senator Natasha Bail - Fixes Date For Trial
Headline

JUST IN : Court Grants Senator Natasha Bail – Fixes Date For Trial

HIV prevention shot
Headline

BREAKING: FDA Approves New Twice-Yearly HIV Prevention Shot, Yeztugo

News

Over 250 Lady Golfers storm in Minna for 2025 Northern championship 

© 2024 Golden News

  • About Us
  • Advertise with Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms And Conditions
No Result
View All Result
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us

© 2024 Golden News