StartCredits StartCredits StartCredits StartCredits
  • Loans
    • Credit Score
    • Guide
  • Investments
    • Bank
    • Crypto
  • Log In
StartCredits StartCredits
  • Loans
    • Credit Score
    • Guide
  • Investments
    • Bank
    • Crypto
  • Log In
accion loans

Accion

Interest Rate (7.5% – 9.5%)

 

Apply
Category: Microfinance Tags: Business, Education, Vehicle
  • Description

Description

Accion


Accion MFB has branches mostly in Lagos, with a few in Port Harcourt, Ogun State and Onitsha. Relying on support from Accion international they provide loans ranging from business loans and overdraft facilities, to school fees and impaired disability loans. There are no account opening charges, however they charge a 3.5% fee for admin and insurances purposes. Loans range from 1-12 months depending on the loan type, and interest rates range from 4-6%.

Microfinance  lending 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.

Microfinance loans specifically are not appropriate in situations where they propagate a cycle of debt or dependence. If you are taking out the loan to pay off another loan, this is considered very bad practice.

 

Requirements

Eligibility Criteria:

· 6 recent passport photographs

· Recent utility bill from residence

· Identification: National ID Card / Valid Driver’s License / Valid International passport

· Shop receipt (evidence of business location)

· Guarantor aged 28-59

· All loans require a 20% compulsory deposit of the approved loan amount to be paid after signing the offer letter.

Guarantor Criteria:

· Ability to repay loan in case of default

· 1 recent passport photograph

· Recent utility bill from his residence

· Identification: National ID Card or Valid Driver’s License or Valid International passport

Related products

  • Wema Bank

    Wema

  • kiakia loans

    KiaKia

  • snapcredit loans

    SnapCredit

  • zenith bank loans

    Zenith Bank

Search for your Loan

Latest Loans

  • ab microfinance loans AB Microfinance
  • hasal mfb loans Hasal
  • PettyCash loans PettyCash
    Rated 4.00 out of 5
  • Giwa MFB Giwa
  • Providus Bank Providus
  • Ferratum Ferratum
  • irl microfinance IRL
  • hubcredit HubCredit
  • Omoluabi Omoluabi
  • FCMB loans FCMB

Loan Advice

  • Funding options to Emigrate from Nigeria
  • How to access bank loans for your business in Nigeria
  • How to improve your credit score in Nigeria
  • Non-performing loans of Nigerian banks
  • Securing a federal government housing loan in Nigeria
  • How to check your NIN for a loan application
  • Types of loans offered in Nigeria
  • Home loans in Nigeria

Company

  • About
  • Contact
  • Careers
  • Credit Score

Loans

  • Moneylenders
  • Peer to Peer
  • Mortgage
  • Microfinance

Investments

  • Crypto
  • Bonds
  • Deposits
  • Shares

Follow Us!

Follow Us on FacebookFollow Us on TwitterFollow Us on Google+
  • Loans
    ▼
    • Credit Score
    • Guide
  • Investments
    ▼
    • Bank
    • Crypto
  • Log In
Return To Top
  • Moneylenders
  • Peer to Peer
  • Mortgage
  • Microfinance
2023