Access Firstsource Loan, compare and pay less

Access up to ₦5m for your business without collateral with a flexible repayment model for a 6 – 12 months tenor.

firstsource

48hrs

Approval

100k – 5m

Amount

7%

Monthly Interest

Calculate your Firstsource Loan Repayment

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About Firstsource Loan

With a Firstsource business loan, you can obtain a credit facility up to ₦5, 000, 000 without collateral. After documents assessment, you will get funded within 48 hours but here are what you need to know.

1

Amount

Credit facility starting from ₦100, 000 to a maximum of ₦5, 000, 000 accessible.

2

Interest Rate

You will pay a monthly interest fee of 7%.

3

Tenor

Firstsource offers short term loans for a period of 6 months, this can be extended to 9 months based on criteria determined by the company.

Firstsource Loan Terms

Here are broader terms you need to understand regarding your application for this loan

  • Credit Amount: ₦100, 000 – ₦5, 000, 000
  • Interest Rate: 7% per month
  • Other Fees (processing/commitment): 1% of credit amount
  • Tenor: 1 – 9 months

How Firstsource Loan for SME Compare to Other Lenders

Provider

Amount

Interest Rate

Max Tenor

Fewchore

Fewchore tab firstsource

₦50,000 - ₦3,000,000

4%

12 Months

AB Microfinance Bank

AB Microfinance Bank Tab firstsource

₦3,000,001 - ₦10,000,000

3% - 4.7%

24 Months

Access Bank

Access tab firstsource

₦250,000 - ₦5,000,000

3%

6 Months

Accion Microfinace Bank

accion mfb tab firstsource

*572*6#

3% - 6%

24 Months

CIT MFB

cit mfb tab firstsource

₦500,000 - ₦20,000,000

4%

6 Months

Carbon

carbon tab firstsource

₦300,000 - ₦20,000,000

5%

6 Months

Eco Bank

Ecobank tab firstsource

₦300,000 - ₦20,000,000

4%

6 Months

Fidelity Bank

Fidelity tab firstsource

₦300,000 - ₦30,000,000

3%

6 Months

Vanir Capital

Vanir Capital tab firstsource

₦50,000 - ₦10,000,000

4% - 10%

12 Months

FCMB

FCMB tab firstsource

₦500,000 - ₦6,000,000

6% – 30%

36 Months

First Source

first source tab firstsource

₦100,000 - ₦1,000,000

5.5%

6 Months

GTBank QuickCredit

GTBank tab firstsource

₦250,000 - ₦10,000,000

1.33%

12 Months

Ibile MFB

ibile mfb tab firstsource

₦500,000 - ₦20,000,000

3.5%

6 Months

Lendigo

lendigo loan tab firstsource

₦300,000 - ₦10,000,000

2.75% - 4%

12 Months

Baobab MFB

baobab mfb tab firstsource

₦20,000 - ₦10,000,000

4.7%

18 Months

LAPO MFB

LAPO MFB tab firstsource

₦30,000 - ₦5,000,000

5% – 25%

12 Months

Renmoney

renmoney tab firstsource

₦50,000 - ₦6,000,000

35.76%

12 Months

Skystone Capital

Skystone Capital tab firstsource

₦100,000 - ₦4,000,000

6%

4 Months

Fast Credit

Fastcredit tab firstsource

₦100,000 - ₦3,000,000

6%

15 Months

Lidya

lidya tab firstsource

₦150,000 - ₦20,000,000

3.5%

12 Months

Options to Firstsource Business Loan for SME

Firstsource B2B loan takes some steps to apply especially because they utilize the Remita finance platform.

But as far as you can show evidence that you have a valid SME and have been active with a bank account for at least six months, you can apply for this Firstsource loan for your business.

To be successful for this loan facility, use the best account for your business. That with an excellent credit history stands a higher chance of improving your eligibility.

Though the terms look simple compared to some lenders, you might not be qualified to get the needed loan for your business after credit score checks.

If you are not considered, there are other lenders that can help with the funds you need for your business operation.


How to Apply for Firstsource B2B Loan

Firstsource B2B Loan

 

Applying for a Firstsource business loan takes a few steps. Below are the processes you can use to access the credit facility:

  • Apply directly here to get rates from different lenders or simply create an account on the Firsource website
  • Provide 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)
  • Once you have filled in the required information and indicated the loan amount you need, submit it
  • You might need to visit the office for final processing or you will directly get the Remita debit instructions to your email address

Approval for the Firstsource business loan is dependent on the eligibility check on your business account. The maximum you can access could also be based on your monthly business revenue.

Once the checks are done and your business is eligible, you will be provided with a Remita direct debit form which once completed and verified, your account will be credited.

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