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I Need A Loan From Micro-Finance Banks - Business - Nairaland

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I Need A Loan From Micro-Finance Banks by cornel318(m): 8:19am On Oct 08, 2007
I Need A Loan From Micro Finance Banks And I Don't Know How To Go About It. I'm seriously waiting.

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Re: I Need A Loan From Micro-Finance Banks by tobaaro(m): 10:48am On Oct 08, 2007
duh?

Walk into any microfinance bank and make inquiries? It's that easy!

2 Likes

Re: I Need A Loan From Micro-Finance Banks by enolase(m): 11:49am On Oct 08, 2007
Since you live in PH, just go to First Global Microfinance Bank at 60 Trans Amadi Road. It is the only Microfinance bank in PH.
Re: I Need A Loan From Micro-Finance Banks by sergio(m): 12:11pm On Oct 08, 2007
Getting a loan form a microfinance Bank is quite simple, all u need do is to Have a genuine reason for needing the loan or you have a reasonable project in mind, then have some paper work to that effect. then you open an account with the bank and run the account for a period of say two - six months, the essence of this is to prove to the bank that you are serious and committed to ur course. The bank also requires that u have a substansive collateral for the loan. Microfinance banks only gives u loan when the loan in the the categoty of the SMEs. try this out and see if it works

1 Like

Re: I Need A Loan From Micro-Finance Banks by enolase(m): 12:21pm On Oct 08, 2007
Sergio, I disagree with you on the issue of collateral. Microfinance banks do not require substantive collateral. If that were to be the case, then why are they called microfinance banks? Why were they created to serve the interests of those who cannot access loans from the commercial banks because of inability to meet the stringent conditions attached?

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Re: I Need A Loan From Micro-Finance Banks by Kobojunkie: 3:02pm On Oct 08, 2007
How much is the maximum one can get from a microloan bank?? and How high can the interest on these loans get ??
Re: I Need A Loan From Micro-Finance Banks by adechuks(m): 3:39pm On Oct 08, 2007
Re: I Need A Loan From Micro-Finance Banks by wanaj0: 4:10pm On Oct 08, 2007
No collateral in most cases but the interest rate is KILLING!!!!!!
Re: I Need A Loan From Micro-Finance Banks by sergio(m): 4:47pm On Oct 08, 2007
@ enolase

No financial institution lends money without assurance or something to fall back to in the event of a default, you cannot obtain an unsecured loan from anywhere, the difference between microfinance bank and larger commercial banks is that the procedures required to obtain a loan form the (MFBs) is slimmer, also the interest rates on lending is also lower, this depends on the institution in question, at least i know of a microfinance bank in Abuja where the interest rate is as low as 25% per annum, that is about 2.08% per month. this is quite comfortable for small scale business enterpreneurs.
Re: I Need A Loan From Micro-Finance Banks by atilla(m): 6:10pm On Oct 08, 2007
Send me an email. I will give you the number of one of my friends that works in a micro finance bank.

I think she will be able to advice you very well.
Re: I Need A Loan From Micro-Finance Banks by VC2007(m): 8:59pm On Oct 08, 2007
@enolase
I disagree that First Global is the only MFB in Port Harcourt.
Without even thinking about where others are located, there is one right inside UNIPORT Continuous Education centre at UST junction.
Re: I Need A Loan From Micro-Finance Banks by enolase(m): 11:33am On Oct 10, 2007
VC2007, Would u be so kind as to supply us the name of this microfinance bank beside UST junction?

I do hope you know that the so-called community banks havea deadline to be transformed into microfinance banks or be liquidated.

So when I said First Global was the only licensed microfinance bank in PH till date, I really am not sure if I am wrong.
Re: I Need A Loan From Micro-Finance Banks by skyone(m): 11:40am On Oct 10, 2007
u get good credit histroy? who be ur pale cool
Re: I Need A Loan From Micro-Finance Banks by guysophi: 4:37pm On Oct 11, 2007
me i need around 150m, i don't know if any micro-finance bank can help wit that. cool
Re: I Need A Loan From Micro-Finance Banks by dejacrue: 3:21pm On Oct 12, 2007
try IMFB ,Intergrated Micro Finance Bank i believe they 've a branch in PH.NO COLLATERAL BUT HIGH INTEREST RATE WITH 2 PERSONAL GUARANTEE.
Re: I Need A Loan From Micro-Finance Banks by Soundmind(m): 3:59pm On Oct 23, 2007
@ guy,
I do not think u can get up to 150m in any micro finance bank. I went to a loan of 1.5m in a umuchinemere micro finance bank in Enugu and was told they that i cannot get more than 90k. I must register with a coprative society and we will come 4 the loan. The maximum we can get as a society is 500k.
Re: I Need A Loan From Micro-Finance Banks by denobleman(m): 5:05pm On Oct 23, 2007
Hi Friends,
I am interested in getting a loan from a micro finance at a comfortable interest but I reside in Onitsha.Could some be of help?
Re: I Need A Loan From Micro-Finance Banks by atilla(m): 9:25am On Oct 24, 2007
Call

Citiserve Microfinance bank ltd
368 Ikorodu road, Maryland, lagos

2798370, 2798371
Re: I Need A Loan From Micro-Finance Banks by namdo(m): 3:14pm On Jan 16, 2008
make una shine eye well well, don't fall for cheap scam.

a warning!
Re: I Need A Loan From Micro-Finance Banks by DisGuy: 6:47pm On Jan 16, 2008
sergio:

@ enolase

No financial institution lends money without assurance or something to fall back to in the event of a default, you cannot obtain an unsecured loan from anywhere, the difference between microfinance bank and larger commercial banks is that the procedures required to obtain a loan form the (MFBs) is slimmer, also the interest rates on lending is also lower, this depends on the institution in question, at least i know of a microfinance bank in Abuja w[b]here the interest rate is as low as 25% per annum,[/b] that is about 2.08% per month. this is quite comfortable for small scale business enterpreneurs.

as low as 25% shocked shocked
comfortable? shocked shocked
Re: I Need A Loan From Micro-Finance Banks by martins73: 8:57am On Jan 18, 2008
Dear All,
Please I need a reliable MFB in Warri for a loan of about 700K payable within a year. This is to enable me purchase a piece of Land located in Warri. If anybody knows any credible MFB, please let me have the loan details including percentage or any other means I can raise the said amount.
Re: I Need A Loan From Micro-Finance Banks by Uditha: 11:55am On Nov 16, 2008
What is the reason behind naming this process "Microfinance"?

Are borrowers put into groups so that future loans can only be obtained if outstanding debts of the whole group is paid? If you are requesting 4 a loan without the acquaintance of a group what are the methods that will ensure the person would pay the debts?
Re: I Need A Loan From Micro-Finance Banks by naijacutee(f): 8:57am On Jun 30, 2009
martins73:

Dear All,
Please I need a reliable MFB in Warri for a loan of about 700K payable within a year. This is to enable me purchase a piece of Land located in Warri. If anybody knows any credible MFB, please let me have the loan details including percentage or any other means I can raise the said amount.

Loan for land from a Microfinance bank? The whole purpose of most microfinance banks is to help small-scale business people who are struggling, and who just need a little cash injection to help them get back on their feet through business. Not for posing as "big man".

There are 786 microfinance banks in Nigeria accredited by the Central Bank. They are :- http://www.cenbank.org/supervision/Inst-MF.asp

1 Like

Re: I Need A Loan From Micro-Finance Banks by tkb417(m): 9:11am On Jun 30, 2009
@ enolase

No financial institution lends money without assurance or something to fall back to in the event of a default, you cannot obtain an unsecured loan from anywhere, the difference between microfinance bank and larger commercial banks is that the procedures required to obtain a loan form the (MFBs) is slimmer, also the interest rates on lending is also lower, this depends on the institution in question, at least i know of a microfinance bank in Abuja where the interest rate is as low as 25% per annum, that is about 2.08% per month. this is quite comfortable for small scale business enterpreneurs.
are u sure?
what about Standard Chartered Bank unsecured loan.
I guess its tied to ur salary and i know if you get sacked from your company today, the bank becomes powerless.
They cant do JACK except u decide to play ball.
Re: I Need A Loan From Micro-Finance Banks by Nezan(m): 9:25am On Jun 30, 2009
@poster:
better go into any of the MFBs and enquire.
Re: I Need A Loan From Micro-Finance Banks by sley4life(m): 10:00am On Jun 30, 2009
walk into the bank to inquire. Have good reason for the loan & evidence u will pay back during the actual time
Re: I Need A Loan From Micro-Finance Banks by topeorekoy(m): 11:27am On Jun 30, 2009
getting a loan frm MFB is kind of easy but the interest rate is quite high. the duration ranges from 6mths to on year and the interest rate is per month. there are some forms that u have to fill
Re: I Need A Loan From Micro-Finance Banks by rewardobi(m): 11:32am On Jun 30, 2009
Big Man!
martins73:

Dear All,
Please I need a reliable MFB in Warri for a loan of about 700K payable within a year. This is to enable me purchase a piece of Land located in Warri. If anybody knows any credible MFB, please let me have the loan details including percentage or any other means I can raise the said amount.
Re: I Need A Loan From Micro-Finance Banks by bayourgold: 11:36am On Jun 30, 2009
yes,it is so easy getting loan from micro finance bank than commercial bank but the rate is kill and outrageous, am talking about 7 to 8% per month.
Re: I Need A Loan From Micro-Finance Banks by ud4u: 12:41pm On Jun 30, 2009
sergio:

@ enolase

No financial institution lends money without assurance or something to fall back to in the event of a default, you cannot obtain an unsecured loan from anywhere, the difference between microfinance bank and larger commercial banks is that the procedures required to obtain a loan form the (MFBs) is slimmer, also the interest rates on lending is also lower, this depends on the institution in question, at least i know of a microfinance bank in Abuja where the interest rate is as low as 25% per annum, that is about 2.08% per month. this is quite comfortable for small scale business enterpreneurs.

Is 25% low? I fear
Re: I Need A Loan From Micro-Finance Banks by Nezan(m): 4:25pm On Jun 30, 2009
u neva collect d loan yet? make we carry chop, na grin
Re: I Need A Loan From Micro-Finance Banks by aminatusaf: 8:55pm On Jun 30, 2009
Guys,its nt d loan dats d problem,there's lots of csh in d lending systm,bt nigerians r nt accesng it 4 various reasns.once ur proposal is mouthwaterin,they'l alws oblige u,ur facility.if uv got one,buzz 07035866823.my bank wl b willng 2hlp out.

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