How to Apply for Addosser Microfinance Bank Loan

For individuals and businesses facing financial difficulties in Nigeria, Addosser Microfinance Bank is a CBN licensed institution offering a diverse range of financial products to satisfy the need of interested Nigerians.


Products

There are 4 different loans offered by this institution:

Traders Loan – This loan is meant for micro-enterprise, small businesses, traders etc in order to expand their businesses and increase profits.

Group Loan – The group loan facility is meant for individuals that constitute an informal group either in the same or different line of business.

Micro Loan – The Micro loan caps at N500,000. It is a short term loan meant for micro-enterprises and small businesses.

Festival Loan – This facility is only issues during festive periods and the terms ddoesn't exceed 90 days. The Festival loan is highly recommended for traders who wishes to stock up to meet the high demands during festive periods. 

Requirement


  • Official identification (National Identity card, international passport, etc)
  • Utility bill (water bill, electricity bill)
  • Minimum of 25% equity contribution for first time borrower and 20% equity contribution for repeat clients.
  • Maximum tenor of twenty five (25) weeks or eight (8) months
  • Two credible guarantors
  • Repayment is structured daily, weekly or monthly.
  • An obligor limit of N3,500,000 applies to this loan
  • Post-dated cheques of Borrower is required for loan exposure of N100,000 and above
  • One guarantor’s cheque is also required for loans above N500,000
  • Tangible securities for loans of N1,000,000 and above
  • Key-man insurance for loan exposure of N750,000 and above.

How to Apply

Interested and qualified applicants can follow these steps listed below to apply:

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