AB Microfinance Bank Branches In Lagos And Loans For SME

• gmposts


• 28 Apr 2016

In this review, we would be looking at AB Microfinance Bank Nigeria as we know the bank to be a foreign-owned financial institution, based in Lagos state Nigeria, which offers a broad range of financial services to micro, small and medium-sized enterprises (MSMEs) and other clients in the lower income strata to encourage them move up in the business radar, considering the toughness of the economy.

AB Microfinance Bank Nigeria is committed to its passion of helping to improve the business opportunities of entrepreneurs by availing them of easy access to affordable loans, as well as improve the general financial status of everyone with its deposit accounts. It is a limited liability company duly incorporated in Nigeria under the 2002 Companies and Allied Matters Act, and is regulated by the Central Bank of Nigeria as a fully-fledged microfinance bank.

The Bank has an exceptional group of very strong international shareholders committed to the task of improving access to financial services in the country. These shareholders are Access Microfinance Holding AG of Germany, KfW – the German Development Bank, Impulse Microfinance Investment Fund N.V. in Belgium, the African Development Bank, and the International Finance Corporation of the World Bank Group. Together, they have an established record of setting up and managing microfinance banks across the African and Asian continents in such countries as Nigeria, Tanzania, Liberia, Zambia, Rwanda, Madagascar, Azerbaijan, Tajikistan,Georgia and Brazil.

TYPES OF LOANS PROVIDED BY AB MICROFINANCE BANK

• Micro Loans
• Micro SME Loans
• Medium SME Loans

Micro Loans:

AB Microfinance Bank Nigeria offers all classes of entrepreneurs the opportunity to easily access loans in a quick and stress free ways, in a transparent and efficient environment.

The company’s expertise and international standards gives the clients that calmness and the assurance of getting quality service and delivery from the organization. AB Microfinance Bank Loans currently range from N 15,000.00 to N1.5 million; maximum maturity is 18 months; for larger loan sizes.

Benefit And Features Of AB Microfinance Bank

•  No mandatory deposits/savings and no cash collateral required from customers.
•  Financial statements audit is not 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 constitution of borrower groups – you are responsible only for your own loan.

Please note that all applications will undergo an on-site assessment by one of the lending staff prior to a committee decision on any loan application.

If you are interested, simply visit any of the branches as listed below and meet with the loan officers for a proposal.

MICRO LOAN PRODUCTS  AND THE INTEREST RATES

Micro SME Loans:

AB Microfinance Bank offers business homeowners of little and Medium Size Enterprises the chance to access loan product in an exceedingly fast, clear and economical means. Building on our world experience and on our international standards, we are able to assure our shoppers highest quality service and delivery. Prospective borrowers do not necessarily need to have saved any cash with AB Microfinance Bank before applying for a loan, as we have a tendency to don’t support forced savings. All that’s required is associate degree existing and a viable business.

What sets AB Microfinance Bank apart is primarily the potency and simple access to credit facilities. Documentation and collateral needs are considerably a lot versatile than anyplace else within the Nigerian banking sector, and therefore the interval is that the shortest out there

     Credit Products Obtainable By Micro SME clients

• Loans from NGN 1,500,001 to NGN 2,500,000 for your existing business
• Competitive Interest Rate of 4.5% monthly on reducing balance
• Disbursement fee of 2.5% of the loan amount (down to 1.5% for renewal)
• Maturity period from 6 to 24 months with equal monthly installments
• Hard collateral required (vehicles, landed properties, etc.)
• Free SMS Reminder for your Monthly Repayments

Benefits And Feature Of Medium SME Loans

• Loans from NGN 20 Million and above for your existing business
•  Competitive Interest Rate of 2.5% monthly on reducing balance
•  Disbursement fee 1 – 1.5%
•  Maturity period from 9-24 months with equal monthly installments
•  Diverse types of collateral accepted
•  Free SMS Reminder for your Monthly Repayments

AB Microfinance Bank Branches In Lagos