Microfinance Banks were established to assist individuals, small and medium scale enterprises (MSMEs) in obtaining credit facilities for personal use or their businesses.
Borrowers of Microfinance loans pay interest on them. The interest rate and the tenure can range from 3%-6% and 1-12 months, respectively, depending on loan size.
What to do before applying for a loan from Microfinance Banks in Nigeria;
Documents required when applying for a Loan;
To know more on how to apply for loans, kindly visit www.advansnigeria.com/business/loans