Microfinance Banks for Business loans: Microfinance Banks that can give N5 million Loans – One strategy to grow business is via loans. Taking loans would help a business stand firmly and make the business man or woman get all the necessary things he or she needs to make the business more efficient. There are Microfinance banks that gives loan for business. You can have access of N5million loans and above.

Microfinance Banks for Business loans: Microfinance Banks that can give N5 million Loans

Most businesses fail or collapse when there is insufficient fund for the running of the business. Business is money and to get money you need more money. Thus; capital is wealth set aside for the production of further wealth. Microfinance gives higher loans than commercial banks.

Microfinance Banks that gives N5million Loans

Ren Money

Renmoney 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 Ren Money 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

To understand more about the loan and apply visit: https://www.renmoney.com/

AB Microfinance Bank

AB Microfinance Bank offers business owners of Small and Medium Size Enterprises the opportunity to access loan products in a quick, transparent, and efficient way. Prospective borrowers do not need to have saved any money with AB Microfinance Bank before applying for a loan. All that is needed is an existing, viable business.

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

To understand more and apply for the loan visit: https://ab-mfbnigeria.com/

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.

Features and benefits of LAPO Microfinance Bank SME loan

• No collateral
• Access to funds for business expansion
• Flexible repayment structure
• Facility amounts up to N5,000,000
• Duration of 12 months
• Training on basic financial management, business planning and customer relations
• Expert financial advice available when you need it

To know more visit: https://www.lapo-nigeria.org/

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