Certainly, gone are the days when anyone had to worry about how to get an instant loan.
Accion Microfinance Bank is established to economically empower micro-entrepreneurs and low-income earners. It aims to achieve this by providing financial services in a sustainable, ethical and profitable manner.
Instant Loan Offers From Accion Microfinance Bank
MY OWN LOAN
This is a working capital loan for customers who run micro-businesses.
Features
Access to loans from N50,000 to N399,000
No collateral needed
Four to 12 months tenure
Competitive interest rate at 6% reducing balance
Insured loan of 1%
An admin fee of 1%
A commitment fee of 1%
100% Equity contribution
Benefits
Firstly, there’s a quick turnaround time
Easy loan procedure
Competitive interest rate
Opportunity to grow business with Accion MfB
Requirements
Proof of business ownership and experience
Account opening required
Viable business
Guarantor
Other documents that might be requested for by Accion MfB
MY SME CAPITAL
This is working capital and asset finance loan for business owners of small and medium scale enterprises.
Features
4% interest rate @ reducing balance
1% Admin fees
Access to a loan of up to N10,000,000
A commitment fee of 1%
A loan backed by collateral
Tenure of up to two years
Benefits
Firstly, this package features a working capital and asset loan for SME operators
Monthly repayment plan
Also, it has competitive interest rate
Easy procedure of acquiring a loan
Opportunity to grow business with Accion MfB
Requirements
Proof of business ownership and experience of up to 24 months
Account opening required
Viable business
Guarantor
Other documents that might be requested for by Accion MfB
MY OWN LOAN PLUS
This is a working capital type loan that is available to customers who run Micro and Small businesses.
Features
Access to loan amounts from N400,000 to N1,000,000
Flexible collateral
Six to 12 months tenure
Competitive interest rate at 6% reducing balance
Insured loan of 1%
An admin fee of 1%
A commitment fee of 1%
10% Equity contribution
Benefits
Firstly, a third party withdrawal
Furthermore, it is flexible and requires easy collateral
Also comes with a competitive interest rate
Finally, it comes with an opportunity to grow business with Accion MfB
Requirements
Proof of business ownership and experience
Account opening
Viable business
Guarantor
Other documents that might be requested for by Accion MfB
For more information about how to get funds for your business, click here.