SME Loan

SME Loans

Our SME loan is suitable for Small and Medium businesses (CAC registered or unregistered) who have been operating for a minimum of 12 months. The loan can be used for working capital, stock and inventory purchase, business growth etc. You can apply online 24hrs and the process is very simple, convenient and straight forward.

Product Features

  • Borrow from N51,000 – N500,000
  • Competitive interest rates 
  • Low Processing & Admin fee
  • Maximum loan term of 6 months
  • Repayment via direct debit or post dated cheques.
  • Very quick turn around, we aim to turn business loans around within 3 working days.

Requirements (Applicant)

  • 1 recent passport photo
  • Must have been in current business for a minimum of 12 months
  • Must provide a valid official ID (International Passport, Drivers License, National ID or Voters Card)
  • Must provide one proof of home address in the form a utility bill dated within last 3 months.
  • Must provide one proof of business address in the form a utility bill dated within last 3 months or receipt of rent payment.
  • Must have a clean Credit record
  • Must provide most recent 6 months bank statements with official stamp of the bank.
  • Must provide cheque leaflets or suitable collateral to cover loan repayment
  • 1 Guarantor required, see requirements below

Requirements (Guarantor)

  • 1 recent passport photo
  • Must provide valid work ID (If Employed)
  • Must provide a valid official ID (International Passport, Drivers License, National ID or Voters Card)
  • Must provide one proof of address in the form a utility bill dated within last 3 months.
  • Must have a clean Credit record
  • Must provide most recent 3 months bank statements with official stamp of the bank.
  • Must provide cheque leaflets to cover the total loan repayment

Responsible Lending

As a responsible lender we promote financial inclusion and take reasonable steps to ensure the following;

  • The amount of credit requested by the Customer is easily repayable from their monthly income.
  • We take into account any other loans or debt the borrower may already have.
  • We will also consider the purpose of the loan.
  • Validate and provide information available on the Customer to the relevant Credit bureau agencies
  • Incorporate foreseeable changes in the Customer’s situation into our lending model

Our aim is to help Employees meet short term emergency needs  who are underserved by the Commercial banks, by providing affordable and accessible loans.

How To Apply

  • Call us on 0700 000 65626 | 081 425 28301 | 0908 0640 4444
  • You can also email us at info@mkobo.com.ng
  • Once we receive your fully completed application and documents we will process your this immediately.
  • Offer letter will be sent to you once approved stating clearly the payment plan
  • Money will be in your bank account within 24hrs of application approval.

For more information or to discuss your requirements with us contact us on 0700 000 65626, or email us at info@mkobo.com.ng