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BAOBAB Loan 2022 (Get Upto 20m) – Application Guideline



BAOBAB Loan 2022

BAOBAB Loan 2022 (Get Upto 20m) – Application Guideline

Baobab is a financial inclusion group focusing on serving individuals, micro and small enterprises (MSMEs) on the African continent and in China. The company’s mission is to unleash the potential of its clients by offering them simple and easy-to-use financial services. Baobab has gained recognition for its ability to combine financial sustainability with positive social and environmental impacts.

You may also want to read FG Business Loans in Nigeria You Can Apply in 2022

Microloans – This is for entrepreneurs, traders, and students to access up to N1m for existing businesses. The interest rate charged by Baobab on loans is a minimum of 7% with the total dependent on the tenor of the loan. Microlending is the provision of financial services for people who don’t have access to traditional financial services such as banks.

The loans are aimed at individuals who were previously considered “unbankable” by larger banking institutions. These are borrowers who are possibly dealing in small amounts of money each day, living in hard-to-access areas, without credit histories, or who don’t meet “traditional requirements” within the banking sector.

SME loans – They provide a loan of up to 20m to help consolidate or invest in your business, that is repayable in up to 24 months. The loan is for use as working capital or for the purchase of fixed assets.

You may also want to read GTBank QuickCredit Loan For Small Business (Get Upto N10M) | How To Apply

How Much Can I Borrow?

The minimum loan amount is N20,000 and a Maximum amount of N50,000,000. Both depend on the borrower’s repayment capacity assessed based on verifiable business inventory and other criteria.

Application Guideline For BAOBAB Loan 2022

  1. visit the BAOBAB loan portal
  2. Click on “Start Now”
  3. Fill out the form
  4. Click “I declare” if you are above 18 years
  5. Then click submit
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