AB Microfinance Bank Nigeria is a foreign-owned financial institution, based in Lagos state, which offers a broad range of financial services to micro, small and medium-sized enterprises (MSMEs) and other clients in the lower income strata.
AB Microfinance Bank Nigeria is committed to its passion of helping to improve the business opportunities of entrepreneurs by availing them of easy access to affordable loans, as well as improve the general financial status of everyone with its deposit accounts.
It is a limited liability company duly incorporated in Nigeria under the 2002 Companies and Allied Matters Act, and is regulated by the Central Bank of Nigeria as a fully fledged microfinance bank. AB Microfinance bank minimum loan amount is N15, 000 and a Maximum amount of N30, 000,000.
The Requirements Needed to Apply for a Loan from AB Microfinance Bank
- You must have a business of your own which should have been in operation for a period specified by the bank.
- The business and the borrower must to be located within the states where the Bank operates (Lagos, Ogun, and Oyo States).
- You need to provide a valid document that confirms your identity (a passport, an ID card. and
- documents that confirms that you are the owner of the business In case the business is not registered, you can prove its existence through the required period of time with your product receipts, documents, which prove your rent of the premises.
- You need to have at least one guarantor for the loan process.
- In case you have a business online, you need to provide physical proofs of its existence. For instance, you need a physical space where you conduct your business and other tangible proofs that the business belongs to you.
- You will need a Flexible collateral arrangement depending on loan size (household goods, business equipment, goods in stock, vehicles, property etc.)
Note: No fee or mandatory account opening is required before you can get a loan and there is no long list of documents you must render to get a loan.
How to apply for a loan from AB Microfinance Bank Nigeria
- Visit AB Microfinance Bank Official website you will see the online application options click on “Apply now”
- A new page will pop up, it will ask for some information; your name, email address, mobile number, how much loan you need, your business information e.t.c.
- Click on “Submit”
- The second sage is the approval of your data. Your approval process begins as soon as you submit the required information and documents.
- You will receive your loan within 48 hours after your application has been verified and approved.
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