Last updated on February 1st, 2021 at 11:40 am
I want a loan of N50,000 to support my catering business, there are only two microfinance banks in my community, and I don’t know how to approach them for credit facility support?, says Adeola (not real name).
Just like Adeola, some business owners don’t really know that microfinance bank in their community offer credit facility provided you can abide by their loan terms and conditions.
We’ll take you on a drive to highlight the CBN-certified Microfinance banks in Nigeria and list the key eligibility requirements to access the credit facility they offer.
Microfinance Banks in Nigeria Licensed By CBN
The Central Bank of Nigeria is Nigeria’s apex financial institution that plays regulatory roles on other commercial banks and other institutions that offer monetary services.
Certification by the CBN are not alone, the government takes a step further to ensure that the banks are insured by another government agency known as Nigeria Deposit Insurance Corporation (NDIC).
In our subsequent publication, we’ll delve into the process of claiming your deposits or money from liquidated banks.
In the meantime, here is the list of legally recognised microfinance banks you can get a loan:
- ABC Microfinance Bank Limited
- Abia State University Microfinance Bank Limited
- Ahmadu Bello University Microfinance Bank Limited
- Aiyepe Microfinance Bank Limited
- Aku Diewa Microfinance Bank Limited
- Akwengwu Microfinance Bank Limited
- Alache Microfinance Bank Limited
- Gombe Microfinance Bank Limited
- Good Neighbors Microfinance Bank Limited
- Grand Fortress Microfinance Bank Limited
- Grants Microfinance Bank Limited
- Grassroot Microfinance Bank Limited
- Green Acres Microfinance Bank Limited
- Green-Bank Microfinance Bank Limited
- Greenfield Lagos Microfinance Bank Limited
- Al-Barakah Microfinance Bank Limited
- Alekun Microfinance Bank Limited
- Aliero Microfinance Bank Limited
- Royal Life Key Microfinance Bank Limited
- Okebola NUT Microfinance Bank Limited
- Dawakin Tofa Microfinance Bank Limited
- Albasu Microfinance Bank Limited
- Mark De-Rock Microfinance Bank Limited
- Madobi Microfinance Bank Limited
- KMC Microfinance Bank Limited
- Shanono Microfinance Bank Limited
- Bundi Microfinance Bank Limited
- Chronicles Microfinance Bank Limited
- Gaya Microfinance Bank Limited
- Golden Funds Microfinance Bank Limited
- Goldman Microfinance Bank Limited
- Greenland Microfinance Bank Limited
- Elo-Emede Microfinance Bank Limited
- Megapraise Microfinance Bank Limited
- Solid Allianz Microfinance Bank Limited
- Dorben Microfinance Bank Limited
- Boig Microfinance Bank Limited
- Safe Haven Microfinance Bank Limited
- Femaz Microfinance Bank Limited
- Mutual Trust Microfinance Bank Ltd
- Viva Microfinance Bank Limited
- Waila Microfinance Bank Limited
- Akpo Microfinance Bank Limited
- Agbarho Microfinance Bank Limited
- Agbowu Microfinance Bank Limited
- Adazi- Nnukwu Microfinance Bank Limited
- Adazi-Enu Microfinance Bank Limited
- Abucoop Microfinance Bank Limited
- Accion Microfinance Bank Limited
- ACE Microfinance Bank Limited
- AB Microfinance Bank Limited
- Abatete Microfinance Bank Limited
- Acheajebwa Microfinance Bank Limited
- Warji Microfinance Bank Limited
- Wase Microfinance Bank Limited
- Alkaleri Microfinance Bank Limited
- Aja-Yejebwo Microfinance Bank Limited
- AACB Microfinance Bank Limited
- Wealthbasket Microfinance Bank Limited
- Transizzi Microfinance Bank Limited
- Transwealth Microfinance Bank Limited
- Treasures Microfinance Bank Limited
- Abigi Microfinance Bank Limited
- Achina Microfinance Bank Limited
- Active Point Microfinance Bank Limited
- Agosasa Microfinance Bank Limited
- Women Development Initiative MFB Limited
- Wudil Microfinance Bank Limited
- Aguleri Microfinance Bank Limited
- Ajewole Microfinance Bank Limited
- Alor Microfinance Bank Limited
- All Seasons Microfinance Bank Limited
- Adkolm-Emerald Microfinance Bank LImited
- Advance Microfinance Bank Limited
- Afemai Microfinance Bank Limited
- Abokie Microfinance Bank Limited
- All Workers Microfinance Bank Limited
- Aloaye Microfinance Bank Limited
- Altitude Microfinance Bank Limited
- Acuity Microfinance Bank Limited
- Adaigbo Microfinance Bank Limited
- Ajiya Microfinance Bank Limited
- Bama Microfinance Bank Limited
- Bancorp Microfinance Bank Limited
- Barnawa Microfinance Bank Limited
- Bauchi Investment Corporation MFB Limited
- Addossar Microfinance Bank Limited
- Ajose Microfinance Bank Limited
- Afotamodi-Ogunola Microfinance Bank Limited
- Mainstreet Microfinance Bank Limited
- Ajuta Microfinance Bank Limited
- Akalabo Microfinance Bank Limited
- Akokwa Microfinance Bank Limited
- Ajeko Microfinance Bank Limited
- Galilee Microfinance Bank Limited
- West-End Microfinance Bank Limited
- Wetland Microfinance Bank Limited
- Woliwo Microfinance Bank Limited
- Yabo Microfinance Bank Limited
- Yauri Emirates Microfinance Bank Limited
Get the Full List Here
Eligibility Requirements To Access Loan From Microfinance Bank
Apart from some money lenders that have completely gone digital, a lot of the microfinance banks in Nigeria want you to visit their office to fill the paper form for your loan application to be considered.
Below are the requirements peculiar to some of them:
- Recent passport photographs
- Recent utility bill from residence
- Evidence of the business location
- Guarantor aged
- A stipulated deposit
- Means of Identification: NIN, Valid Driver’s License or Valid International passport
Ready to apply? Locate any of them in your area. It is advisable that you only take a loan when it’s necessary and when you have the financial expectation to cater for it.
