Getting loan for business is what you need for your business to grow fast. There are a number of loans you can opt in for. For example in Nigeria, there are Government loans for small businesses, personal loans, mortgage, payday loans, Overdraft, Auto loan, hard money loan, Term loan, alternatives to payday loans, Salary advance, students loans, etc. Howbeit, before securing a loan, there must be an agreed upon terms/conditions by the lender and the borrower. If you are a Nigerian seeking for loan, use this link to access an online loan service in Nigeria.
After a careful research, we found this top places to obtain a loan for your business;
Hasal MicroFinance Bank offer loan of up to NGN 500,000 to individuals and corporate bodies. Hasal’s loan is collateralized by guarantor(s) and more information about the MFB’s loan can be viewed by visiting www.hasalmfb.com or visiting one of their branches nationwide.
Zenith Bank is one of Nigeria’s mega banks where individuals and firms can access loans to enhance their lifestyle or boost their businesses. One of the advantages of Zenith Bank’s loan reflects in its fast loan processing time. To find out more about the bank’s loan products, visit www.zenithbank.com
The pan African bank (Ecobank Plc) has put a lot of smile on the faces of Nigerians via their range of loan products. The bank has tailor made solutions for financial needs of Nigerians who operate an account with them. The bank’s turn around time for loan processing is fast and their loan packages are flexible and are accessible to individuals and organizations. Visit www.ecobank.com or one of the bank’s branches in your location to know more about ecobank’s loan products.
Nigeria’s number one customer bank offers different types of loan to meet individual and corporate organizations needs. Of course, an intending loan applicant must have a current account with the bank before he/she can stand any chance of accessing Sterling bank’s loan. The bank’s website is www.sterlingbankng.com
Fortis MFB is Nigeria’s best Microfinance bank that has helped many individuals and corporate organizations to realize their dreams through assisting them with loans of all sorts. The Microfinance bank is widely spread across Nigeria and more information about Fortis can be gotten by visiting any of their branches.
This Microfinance Bank is located at 127, Awolowo Way, Ikeja, Lagos and it is a subsidiary of GTI Capital Limited. GTI MFB offers loans to individuals, Small Scale Enterprises and Corporate bodies and their tenor ranges between 6 months and 48 months. One of the advantages of GTI is that as long as you are the bank’s customer, your loan application will be approved. To find out more about GTI’s loan dynamics, visit their office address.
Apex MFB was created with the vision of meeting the financial needs of individuals. This microfinance bank offers loans to individuals that want to grow their business with a reasonable interest rate. The bank is located in Kwara State, Oyo State and other parts of the country.
United Bank for Africa’s loan products have benefited a lot of individuals and businesses in Nigeria. Unlike many mega banks, UBA’s loan products are speedily approved once an applicant (who has an account with the bank) meets the bank’s conditions. Visit www.ubagroup.com for further enquiries.
One can obtain loan from First Bank of Nigeria Plc as the bank has a wide variety of loan products which include Automobile loan, Personal Home Loan, Loan against salary and Equipment Loan for individuals. For corporate bodies, the bank has Contract finance, Lease finance, overdraft and so on. To find out about conditions precedent to accessing any of the bank’s loan type, visit www.firstbanknigeria.com
NEXIM avail loans to exporters to enable them carry out their export business. Their loan products include Direct Lending Facility, Export Credit Insurance Facility, Export Credit Guarantee Facility and so on. NEXIM’s website is www.neximbank.com.ng
Fidelity Bank ranks among the top ten banks in Nigeria and the bank offers a wide range of loans to individuals and businesses if they meet their requirements. The bank’s website is www.fidelitybank.com
Accion MFB in its three months of operation approved over 280 loans for Nigerians. This microfinance bank is a sure place of getting loan of all sorts. The bank’s website is www.accionmfb.com
As a mega bank, Skye banks avails loan facility to Nigerians (students inclusive). Visit www.skyebankng.com for more details on Skye Bank’s loan requirements.
Various cooperative societies in Nigeria are avenues of obtaining loans in Nigeria. One major requirement for obtaining loans in any cooperative society is that applicants must be members of the cooperative society. For more information, visit any cooperative society within your vicinity.
Gofundme.com is an online avenue for obtaining grants and the beauty of this medium is that such grants are not repaid. A lot of people have benefited from this site, as such. Nigerians too should benefit by logging on to the site for further enquiries.
Above are the top places you could get business loans in Nigeria to finance your business but sometimes, borrowers gets to fall into bad credit loans. If you happen to get disapproved for a business loan, don't panic or get yourself whirled up. Simply go to another borrower but this time, you may need to use loan checklist for getting approval before applying or see these bank loan alternative financing.
Diamond Bank Plc - Get Business Loan in Nigeria from Diamond
This bank avails its customers loans such as Overdraft, Lease Finance facility, Credit cards, Salary advance, Small and Medium Enterprise loan, personal loan and so on. For one to qualify for any of their loan product, one must have an account with Diamond Bank. For further enquiries, visit www.diamondbank.comHasal MicroFinance Bank
Hasal MicroFinance Bank offer loan of up to NGN 500,000 to individuals and corporate bodies. Hasal’s loan is collateralized by guarantor(s) and more information about the MFB’s loan can be viewed by visiting www.hasalmfb.com or visiting one of their branches nationwide.
African Development Bank
This bank can be approached for loans and grants by Small and Medium Enterprises. Recently, African Development Bank approved $580, 000 for the development of SMEs in Nigeria. To know more the bank’s grant, visit www.afdb.org/en/news-and-events/loans-grants/nigeria/Zenith Bank Plc - Loan for Business in Nigeria from Zenith Bank
Zenith Bank is one of Nigeria’s mega banks where individuals and firms can access loans to enhance their lifestyle or boost their businesses. One of the advantages of Zenith Bank’s loan reflects in its fast loan processing time. To find out more about the bank’s loan products, visit www.zenithbank.com
Ecobank Plc - Business Loans for Nigerians
The pan African bank (Ecobank Plc) has put a lot of smile on the faces of Nigerians via their range of loan products. The bank has tailor made solutions for financial needs of Nigerians who operate an account with them. The bank’s turn around time for loan processing is fast and their loan packages are flexible and are accessible to individuals and organizations. Visit www.ecobank.com or one of the bank’s branches in your location to know more about ecobank’s loan products.
Sterling Bank - Nigerian Business Loan from Sterling Bank
Nigeria’s number one customer bank offers different types of loan to meet individual and corporate organizations needs. Of course, an intending loan applicant must have a current account with the bank before he/she can stand any chance of accessing Sterling bank’s loan. The bank’s website is www.sterlingbankng.com
Fortis Microfinance Bank
Fortis MFB is Nigeria’s best Microfinance bank that has helped many individuals and corporate organizations to realize their dreams through assisting them with loans of all sorts. The Microfinance bank is widely spread across Nigeria and more information about Fortis can be gotten by visiting any of their branches.
GTI Microfinance Bank - Obtain a Business Loan from GTI Micro-finance Bank
This Microfinance Bank is located at 127, Awolowo Way, Ikeja, Lagos and it is a subsidiary of GTI Capital Limited. GTI MFB offers loans to individuals, Small Scale Enterprises and Corporate bodies and their tenor ranges between 6 months and 48 months. One of the advantages of GTI is that as long as you are the bank’s customer, your loan application will be approved. To find out more about GTI’s loan dynamics, visit their office address.
Apex Microfinance bank - Acquire a Loan from Apex Microfinance Bank for Business
Apex MFB was created with the vision of meeting the financial needs of individuals. This microfinance bank offers loans to individuals that want to grow their business with a reasonable interest rate. The bank is located in Kwara State, Oyo State and other parts of the country.
United Bank for Africa (UBA) Plc
United Bank for Africa’s loan products have benefited a lot of individuals and businesses in Nigeria. Unlike many mega banks, UBA’s loan products are speedily approved once an applicant (who has an account with the bank) meets the bank’s conditions. Visit www.ubagroup.com for further enquiries.
First Bank of Nigeria Limited
One can obtain loan from First Bank of Nigeria Plc as the bank has a wide variety of loan products which include Automobile loan, Personal Home Loan, Loan against salary and Equipment Loan for individuals. For corporate bodies, the bank has Contract finance, Lease finance, overdraft and so on. To find out about conditions precedent to accessing any of the bank’s loan type, visit www.firstbanknigeria.com
Nigerian Export – Import Bank (NEXIM)
NEXIM avail loans to exporters to enable them carry out their export business. Their loan products include Direct Lending Facility, Export Credit Insurance Facility, Export Credit Guarantee Facility and so on. NEXIM’s website is www.neximbank.com.ng
Fidelity Bank Plc - Loans for Businesses in Nigeria
Fidelity Bank ranks among the top ten banks in Nigeria and the bank offers a wide range of loans to individuals and businesses if they meet their requirements. The bank’s website is www.fidelitybank.com
Access Bank Plc - Meet Requirement and obtain a business loan from Access Bank
The bank is an avenue for loan acquisition by both Nigerians who meet their loan requirements. For more information, visit www.accessbankplc.comAccion MicroFinance Bank
Accion MFB in its three months of operation approved over 280 loans for Nigerians. This microfinance bank is a sure place of getting loan of all sorts. The bank’s website is www.accionmfb.com
Lapo MicroFinance Bank - Obtain any kind of Loan from Lapo
Lapo MFB is a place where Nigerians can obtain loan of all types regardless of the applicant’s occupation. The loan requirements are flexible and their rates are highly competitive. Their website is www.lapo-nigeria.orgSkye Bank Plc - Get a loan for your Business from Skye Bank
As a mega bank, Skye banks avails loan facility to Nigerians (students inclusive). Visit www.skyebankng.com for more details on Skye Bank’s loan requirements.
Cooperative societies - Join and Request for a Business Loan from Cooperative societies
Various cooperative societies in Nigeria are avenues of obtaining loans in Nigeria. One major requirement for obtaining loans in any cooperative society is that applicants must be members of the cooperative society. For more information, visit any cooperative society within your vicinity.
Gofundme.com - Sign Up and Request for a Business Loan
Gofundme.com is an online avenue for obtaining grants and the beauty of this medium is that such grants are not repaid. A lot of people have benefited from this site, as such. Nigerians too should benefit by logging on to the site for further enquiries.
How to Sign Up for Gofundme Account
- First, visit www.gofundme.com
- Next, on the top right, click on start fundraiser
- Next, select either Facebook Sign Up or Email Sign Up.
Gofundme Facebook Account Sign Up
- Click on use my Facebook Account
- Next, click on continue.
Gofundme Email Account Sign Up
- First, click on use my Email Address.
- Enter your first and last name
- Next, enter your primary email address
- Confirm by re-typing your primary email address
- Create your desired password
- Next, click on the Sign Up for GoFundMe button.
- Finally, go back to confirm your email.
That's all on GoFundMe Sign Up process
Conclusion:
Above are the top places you could get business loans in Nigeria to finance your business but sometimes, borrowers gets to fall into bad credit loans. If you happen to get disapproved for a business loan, don't panic or get yourself whirled up. Simply go to another borrower but this time, you may need to use loan checklist for getting approval before applying or see these bank loan alternative financing.
Update: Reasons why banks won't loan money to support your business
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