Micro Loans
Micro Loans
AB Microfinance Bank Nigeria offers entrepreneurs the opportunity to easily access loans in a quick, transparent and efficient environment.
Our expertise and international standards assure our clients of quality service and delivery. Loans currently range from N15,000 to N5,000,000; maximum maturity is 18 months; for larger loan sizes, please visit the SME section.
* Repeat customers can apply for up to N5,000,000 under micro loans.
Kindly note that all applications undergo an on-site assessment by one of our lending staff prior to a committee decision.
No mandatory deposits/savings.
No audited financial statements required.
Flexible collateral arrangements depending on loan size (household goods, business equipment, goods in stock, vehicles, property etc.)
Flexible documentation requirements.
Long-standing clients with impeccable repayment record qualify for successive interest rate discounts and even faster loan processing.
No borrower groups - you are responsible only for your own loan.
Free SMS Reminder for your Monthly Repayments
Upon submission of all required documents, loan disbursement is guaranteed within 3 working days
ABN Micro Loan Products
ABN loans, “easy, fast and convenient”.
| AB Micro Business | Amount Available | Interest Payable (On reducing balance) |
|---|---|---|
| Flexi | N15,000 – N100,000 | 6.6% |
| Plus | N100,001 – N500,000 | 6.1% |
| Max | N500,001 – N1,000,000 | 5.7% |
| Max Plus I | N1,000,001 – N2,000,000 | 5.2% |
| Max Plus II | N2,000,001 – N3,000,000 | 5.0% |
| Disbursement Fee | 1% of Disbursed Amount (One-off charge) | |
| Insurance Fee | 1.5% of Disbursed Amount (One-off charge) | |
