Description

Mainstreet Microfinance Bank

Mainstreet Microfinance Bank is a CBN licensed institution offering loans for multiple purposes in Nigeria.

Products

• Micro loans – This is for entrepreneurs, traders and students to access up to N1m for existing businesses. The interest rate charged by Mainstreet on loans is a minimum of 5% with the total dependent on the tenor of the loan. Micro 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.

• SME loan – Mainstreet offers loan products tailored to meet the business needs of Small & Medium Enterprises (SME). SME finance is a financing solution accessible for specific business medium term projects.