Full List of Microfinance Banks That Offers Loans in Nigeria

Full List of Microfinance Banks That Offers Loans in Nigeria

In this article, we will be walking you through the full List of Microfinance Banks That Offers Loans in Nigeria which will guide you in decision-making when choosing a MFB to obtain a loan.

Before we move further, let’s understand the major role of Microfinance Banks in the country.

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Microfinance Bank

Microfinance banks (MFB) thrive on providing services to the “unbankable”. Therefore, they provide services to those that can’t access regular commercial bank services. Essentially, they cater to all the immediate and potential needs that one may have.

Microfinance banks are mainly patronized by low-income earners, especially those without high-value assets which are needed to obtain loans from commercial banks. One of the major services provided by these banks is to salary earners. There are MFB that give loans to salary earners, allowing them to pay them back some time later.

Below is the full list of MMicrofinance Banks that give loans in Nigeria

Full List of Microfinance Banks That Offers Loans in Nigeria

1. Lapo microfinance bank
2. Purple money microfinance bank
3. CIT microfinance bank
4. AB Microfinance bank 
5. Grooming microfinance bank
6. Addosser Microfinance bank
7. Asset Microfinance bank
8. Bowen Microfinance Bank
9. Capstone Microfinance Bank
10. Cardinal Rock Microfinance Bank
11. Cashconnect Microfinance Bank Ltd
12. Cedar Microfinance Bank
13. Chanelle Microfinance Bank
14. CIT Microfinance Bank
15. Corestep Microfinance Bank
16. Cowries Microfinance Bank
17. Credit Afrique Microfinance Bank
18. Credit Express Microfinance Bank
19. Crossover Microfinance Bank
20. Daylight Microfinance Bank
21. Desmonarchy Microfinance Bank limited
22. Echo Microfinance Bank
23. Edo Microfinance Bank
24. Empire Trust Microfinance Bank
25. Enrich Microfinance Bank limited
26. FFS Microfinance Bank
27. Finatrust Microfinance Bank
28. Finex Microfinance Bank
29. First Option Microfinance Bank
30. Flourish Microfinance Bank
31. Fortress Microfinance Bank
32. Giant strides Microfinance Bank
33. Global Initiative Microfinance Bank
34. Glory Microfinance Bank
35. Green energy Microfinance Bank
36. Hackman Microfinance Bank
37. Headway Microfinance Bank
38. High street Microfinance Bank
39. GTI Microfinance Bank
40. IBILE Microfinance Bank
41. Ipodo-Ikeja Microfinance Bank
42. Island Microfinance Bank
43. Jessefield Microfinance Bank
44. Kayvee Microfinance Bank
45. Kudimoney Microfinance Bank
46. Lawebod Microfinance Bank
47. Leadcity Microfinance Bank limited
48. Letshego Microfinance Bank
49. Lifegate Microfinance Bank
50. Links Microfinance Bank
51. Magnet Microfinance Bank
52. Main trust Microfinance Bank
53. Mainstreet Microfinance Bank
54. Manny Microfinance Bank limited
55. Lovonus Microfinance Bank
56. Maritime Microfinance Bank
57. Sunrise Microfinance Bank
58. Supreme Microfinance Bank
59. Surbpolitan Microfinance Bank
60. Susu Microfinance Bank
61. Touchgold Microfinance Bank
62. Townserve Microfinance Bank
63. Treasures Microfinance Bank
64. TCF Microfinance Bank
65. Ultimate Microfinance Bank
66. VCL Microfinance Bank
67. Verdant Microfinance Bank
68. Verite Microfinance Bank
69. VFD Microfinance Bank
70. Wesley Microfinance Bank
71. Vineland Microfinance Bank
72. Virtue Microfinance Bank
73. XSLNCE
74. YCT Microfinance Bank
75. Zikado Microfinance Bank
76. NPF Microfinance Bank
77. Okengwe Microfinance Bank
78. Oros Capital Microfinance Bank
79. Owotutu Microfinance Bank
80. Parallex Microfinance Bank
81. Parkway Microfinance Bank
82. Pecan Trust Microfinance Bank
83. Pennywise Microfinance Bank
84. Personal trust Microfinance Bank
85. Petra Microfinance Bank
86. NIRSAL Microfinance Bank
87. Projects Microfinance Bank
88. Providence Microfinance Bank
89. Primera Microfinance Bank
90. Purple money Microfinance Bank
91. Rhehoboth Microfinance Bank
92. Renmoney Microfinance Bank
93. Ric Microfinance Bank
94. Richway Microfinance Bank
95. Pyramid Microfinance Bank
96. Qube Microfinance Bank
97. Reliance Microfinance Bank
98. Rigo Microfinance Bank
99. Royal blue Microfinance Bank
100. Royal Exchange Microfinance Bank
101. Safe Gate Microfinance Bank
102. Seed Capital Microfinance Bank
103. Shalom Microfinance Bank
104. Shepherd Trust Microfinance Bank
105. Snow Microfinance Bank
106. Solid Allianze Microfinance Bank
107. Solid trust Microfinance Bank

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Some Frequently Asked Questions

Are There MFBs that Don’t Offer Salary Loan Services?

This is a great question to ask, to be honest, most, if not all microfinance banks, offers loans to salary earners. It is a basic service offered by financial institutions, including commercial and microfinance banks.

What are the Requirements To Apply For a Salary Earners MFB Loan?

The major eligibility requirement while applying for this loan is that your salary account is domiciled with the bank. Therefore, when your salary is paid at month’s end, they can easily deduct your loan repayment. Also, your salary needs to be up to a particular amount for you to access a certain amount of loan. In all, they would present you with the available options during the application.

Conclusion

Microfinance Bank’s primary function is to offer financial services which also include giving out loans, especially to salary earners.  So if you are a salary earner, you can easily walk into any legitimate microfinance bank and request a loan.

However, before collecting any loan from Microfinance Bank, make sure to properly go through their terms and conditions which include their interest rates, duration of the loan, etc.