What we offer are business loans for businesses that are already in existence/operation, and housing/house improvement loans.
Truetells Nigeria learnt that Baobab is a financial inclusion group focused on serving individuals, micro and small enterprises (MSMEs) on the African continent and in China. The company’s mission is to unleash the potential of its clients offering them simple and easy to use financial services.
Baobab Micro Loans – This is for entrepreneurs, traders and students to access up to N1m for existing businesses.
The interest rate charged by Baobab on loans is a minimum of 7% with the total dependent on the tenor of the loan.
Micro lending is the provision of financial services for people who don’t have access to traditional financial services such as banks. The loans are aimed at individuals who were previously considered “unbankable” by larger banking institutions.
These are borrowers who are possibly dealing in small amounts of money each day, living in hard-to-access areas, without credit histories or who don’t meet “traditional requirements” within the banking sector.
Steps to Apply for BAOBAB Loan 2021
SME loans – They provide a loan of up to 20m to help consolidate or invest in your business, that is repayable in up to 24 months. The loan is for use as working capital or for the purchase of fixed assets.
What we offer are business loans for businesses that are already in existence/operation, and housing/house improvement loans.
The minimum loan amount is N20,000 and a Maximum amount of N50,000,000. Both depend on the borrower’s repayment capacity assessed based on verifiable business inventory and other criteria.
To access BAOBAB Loan facility, you must have a business, the location must be within our bank’s lending area (Lagos state, Oyo state and Ogun state) and it must have been in existence within a specific period.
If I Apply For BAOBAB Loan, How long will it take to get the Loan ?
It doesn’t take longer than it ought to as long as the necessary requirements are adequately met (less than 3 working days).
visit the official website to apply for Baobab Loan https://baobabgroup.com/ng/loans/
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