If you own and run a business, getting s soft loan to help grow your business is not such a bad idea. But how will you get these loans and where can you get them. We have put together a list of good business loans for you. These business loans in Nigeria are meant to help you grow your business.
What Is Business Loans In Nigeria
Business Loans can be referred to as the act of borrowing money from a Bank or any other financial institution with the aim of creating, growing or maintaining a business at an agreed interest rate over a specified period of time.
There are three things to take note of in business loans. First the loan amount, secondly the interest rate and lastly the loan tenure or duration. All these are what make up the terms and conditions of the business loans.
In this article we’ll introduce you to business loans offered by Nigerian Banks and how you can apply for these loans. These loans are mostly targeted at women who are into business or are planning to run business. Below are the current best 5 business loans in Nigeria for women
5 Best Business Loans To Get In Nigeria Offered By Nigeria Banks
- FCMB She Ventures or SheVentures
- Access Bank Creative Sector Loan
- Firstbank FirstGem Loan
- Access Bank W Power Loan
- FCMB Fast Cash
FCMB She Ventures Loan
The FCMB SheVentures/ She Ventures Loan is a business loan offered by FCMB for women who wishes to start their own business. It offers lots of exciting features for women. It gives them start up capital and a network of like minds to help them excel in this field.
The most interesting part of the SheVentures Loan is that it is a zero interest loan from FCMB. You can Read This Post to know more about this business loan from FCMB. earn how to apply, what you need to apply and more from the link above.
Access Bank Creative Sector Loan
The creative sector loan is a single digit loan offered by CBN(Central Bank of Nigeria) through Access Bank to help creative minds in various industries to have access to loan at relatively low interest rate. Up to N10 billion loan is accessible here.
Loan tenure or duration can be up to 10 years and at flat interest rate of 9% per annum. The interest rate is relatively low compare to the usual 20-24% interest rate. We have put together a detailed analysis on how to apply for this loan. Please Read This Article to know more about these details and how you can apply for this loan type.
FirstBank FirstGem Loan
The FirstBank FirstGem Loan is a way First Bank of Nigeria is trying to spot those women who have passion to pursue their careers and make impact in the business sector. FirstBank gives out loan through the FirstGem program to help women who are starting their business get off to a great start.
There are also events, seminars and webinars available to help these women. They also have access to mentoring and events that help them to network with others. FirstGem not only provide loan but also provide tools to help women grow their business. You Read This Post to know how to apply and what you need before you can apply.
Access Bank W Power Loan
This program from Access Bank has been one of the many ways Access Bank Plc is trying to help women in the business sector. The purpose of the W Power loan from Access Bank Plc is to empower women in Nigeria. It has a reasonable interest rate and even women who own just 50% of the business can also apply for this loan offer. Read This Post to know all details about the Access Bank W Power Loan.
FCMB Fast Cash
FCMB Fast Cash is one very easy way to quickly get up to N100,000 loan in hours. It is called fast cash because the process to get the loan is very fast. FCMB won’t request for too much paper work and sending loan to borrower is within hours after application. Read This Post for detailed information about the FCMB Fast Cash.
What level is your business, is it at the beginner stage, planning stage, growing stage or is it just only an idea in your brains. Good thing is it does not matter because even your business ideas have the right loan option for it. If you have a good business idea then try using the Creative Sector Loan above to actualize your dream.
Women needs all the help they can get in the world of business dominated by men. We truly hope this business loans options will help you get started with your business. Please use the share button below to share this pots on Facebook, Twitter and Pinterest to help people know of these quick loan options.