How To Get SME Loan From LAPO Microfinance Bank

Big businesses require big loans. The LAPO Microfinance Bank “SME Loan” is a credit product designed specifically to support Small and Medium Scale Enterprises (SMEs) operators in Nigeria. Irrespective of the sector your enterprise is operating, LAPO MfB is willing to support you with a credit facility up to N5,000,000 to expand the enterprise.

At an affordable interest rate, Nigerian SMEs can now maximize their potentials with the SME Loan for the expansion of their businesses.

Features

  • Facility amount up to N5,000,000
  • Methodology: Individual
  • Duration: 12 months

Benefits:

  • No collateral
  • Access to funds for your business expansion
  • Flexible repayment structure
  • Training on basic financial management, business planning and customer relations
  • Expert financial advice available when you need it

Documentation Required

  • Loan application letter
  • Duly completed application form
  • 2 guarantors
  • A valid means of ID (national ID, driver’s license, voter’s card or  international passport)
  • Current utility bill
  • 4 recent passport-size photographs

Frequently Asked Questions

Q: Do I need collateral before I can access this loan?
A: No, you do not need collateral before you can access the loan, once you can provide 2 guarantors that can stand for you in case of default.

2. Q: Can I reduce the repayment duration?
A: Yes. You can reduce the repayment duration to the number of months that suits you.

3. Q: Is there any issurance on the loan?
A: The loan is insured against death, fire in the business place or disability.

For more information about the SME Loan, kindly contact us on: 0700-LAPOMFB (07005276643) or 09053955916

Credit: LAPO Microfinance Bank

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