Get Baobab Microfinance Bank Business Loan, compare and pay less

Access up to ₦50m for your business without collateral with a flexible repayment model for a 6 – 24 months tenor.

baobab mfb

72hrs

Approval

20k – 50m

Amount

5%

Monthly Interest


Baobab Microfinance Bank Business Loan Calculator

Use the below calculator to figure out how much you will need to pay back taking this Baobab Microfinance Bank business loan

About Baobab Microfinance Bank Business Loan

With a Baobab Microfinance Bank business loan, you can obtain a credit facility up to ₦50, 000, 000 without collateral. After your documents are assessed, you will get funded within 72 hours but here are what you need to know.

Baobab Microfinance Bank Business Loan Terms

Here are the terms you need to know before applying for this loan.

  • Credit Amount: ₦50, 000 – ₦50, 000, 000
  • Interest Rate: 5% per month
  • Tenor: 6 – 24 months

How Baobab Microfinance Bank Loan for SME Compare to Other Lenders

Provider

Amount

Interest Rate

Max Tenor

Fewchore

Fewchore tab baobab microfinance bank business loan

₦50,000 - ₦3,000,000

4%

12 Months

AB Microfinance Bank

AB Microfinance Bank Tab baobab microfinance bank business loan

₦3,000,001 - ₦10,000,000

3% - 4.7%

24 Months

Access Bank

Access tab baobab microfinance bank business loan

₦250,000 - ₦5,000,000

3%

6 Months

Accion Microfinace Bank

accion mfb tab baobab microfinance bank business loan

*572*6#

3% - 6%

24 Months

CIT MFB

cit mfb tab baobab microfinance bank business loan

₦500,000 - ₦20,000,000

4%

6 Months

Carbon

carbon tab baobab microfinance bank business loan

₦300,000 - ₦20,000,000

5%

6 Months

Eco Bank

Ecobank tab baobab microfinance bank business loan

₦300,000 - ₦20,000,000

4%

6 Months

Fidelity Bank

Fidelity tab baobab microfinance bank business loan

₦300,000 - ₦30,000,000

3%

6 Months

Vanir Capital

Vanir Capital tab baobab microfinance bank business loan

₦50,000 - ₦10,000,000

4% - 10%

12 Months

FCMB

FCMB tab baobab microfinance bank business loan

₦500,000 - ₦6,000,000

6% – 30%

36 Months

First Source

first source tab baobab microfinance bank business loan

₦100,000 - ₦1,000,000

5.5%

6 Months

GTBank QuickCredit

GTBank tab baobab microfinance bank business loan

₦250,000 - ₦10,000,000

1.33%

12 Months

Ibile MFB

ibile mfb tab baobab microfinance bank business loan

₦500,000 - ₦20,000,000

3.5%

6 Months

Lendigo

lendigo loan tab baobab microfinance bank business loan

₦300,000 - ₦10,000,000

2.75% - 4%

12 Months

Baobab MFB

baobab mfb tab baobab microfinance bank business loan

₦20,000 - ₦10,000,000

4.7%

18 Months

LAPO MFB

LAPO MFB tab baobab microfinance bank business loan

₦30,000 - ₦5,000,000

5% – 25%

12 Months

Renmoney

renmoney tab baobab microfinance bank business loan

₦50,000 - ₦6,000,000

35.76%

12 Months

Skystone Capital

Skystone Capital tab baobab microfinance bank business loan

₦100,000 - ₦4,000,000

6%

4 Months

Fast Credit

Fastcredit tab baobab microfinance bank business loan

₦100,000 - ₦3,000,000

6%

15 Months

Lidya

lidya tab baobab microfinance bank business loan

₦150,000 - ₦20,000,000

3.5%

12 Months

Options to Baobab Microfinance Bank Business Loan

Baobab Microfinance Bank business loan is open to every business that satisfies its criteria above. That you do not need to have an existing account with the bank to apply makes it worth considering.

If you can provide evidence that you have a valid business that has been active with a bank account for at least six months, you can request a Baobab Microfinance Bank business loan to finance your operations.

For you and your business to stand a better chance, apply with an account that has a good credit history. That with an excellent credit history stands a higher possibility of improving your acceptance for a loan.

For some of its terms and conditions, you might not be qualified to get the needed facility for your business after credit score checks.

If your application did not go as expected, there are other lenders that can help with the funds you need to finance your operations.


How to Apply for Baobab Microfinance Bank Business Loan

Baobab Microfinance Bank Business Loan

 

Applying for a Baobab Microfinance Bank business loan takes a few steps. Below are the processes you can use to access the loan facility for your SME:

  • Apply directly here to get rates from different lenders or simply refer to the Baobab Microfinance Bank loan portal
  • Fill in the required personal details as well as that for your business (you should have your business’ Corporate Affairs Commission documents ready as well as your nationally recognised identifications) need to be submitted with the form
  • Once you have filled in all the required details and needed, submit it
  • You might need to visit the bank’s location for final processing

Approval for the Baobab Microfinance Bank business loan is conditional on the eligibility check on your business account. The maximum amount you can get could also be based on your monthly business revenue.

Once the checks are done and your business is eligible, you will get feedback within 72 hours.

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