Check out the Top 10 Best Loan Organisations in Nigeria 2022
Regardless of the size or scope of the enterprise, every business owner, entrepreneur, and organisation desires growth in their own operations.
![Top 10 Best Loan Organisations in Nigeria 2022](https://jaybesttrends.com/wp-content/uploads/2022/10/images-2022-10-21T025232.247.jpeg)
This increase may necessitate investment in order to advance. Some may go through the procedure of acquiring a loan in order to attain their goal, which raises the issue and question, “Who do I approach to request a loan?”
There are numerous organisations that provide loans with certain terms and interest rates; some of these organisations are either government- or privately owned.
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now let’s check out the Top 10 Best Loan Organisations in Nigeria 2022
1. The Agriculture Bank (BOA)
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This is a Nigerian government-sponsored bank that provides loans, credits, and all types of funding for farmers and farming enterprises. They offer a variety of products and services, including an agro-processing facility and an export finance facility. They can provide loans of up to 5 million Nigerian naira, and their interest rates range from 7 to 21 percent.
To apply for a loan, you must first:
Have a collateral
A properly filled-out application form
A properly filled-out application form
3 recent passport photographs
A down payment of NGN 3000
An existing farmland
A letter signed by the bank
2. Bank of Industry (BOI)
![Top 10 Best Loan Organisations in Nigeria 2022](https://jaybesttrends.com/wp-content/uploads/2022/10/images-18-1.png)
This is another Nigerian federal government bank that provides development financing and long-term loans to the country’s industrial sectors, such as the agro-processing industry, information and communication technology, and creative industry, among others. They can offer loans of up to NGN 5 million at a reasonable interest rate, but there are a number of requirements that must be met in order to qualify.
3. Central Bank of Nigeria (CBN)
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The central bank of Nigeria offers a number of loans to businesses around the nation, including the Anchor Borrower Programme (ABP), the Commercial Agriculture Credit Scheme (CACS), the Creative Industry Financing Initiative, and other developmental projects.
4. Development Bank of Nigeria (DBN)
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As the name suggests, this bank is a Nigerian government-sponsored bank that provides loans to small and medium-sized enterprises (SMEs). They offer products such as wholesale lending, partial credit risk guarantees, and a capacity-building programme that may include an entrepreneurship training course. To access loans from this institution, you must approach a commercial or development bank where you hold an account in order to initiate the loan application process.
5. The Export-Import Bank of Nigeria (NEXIM)
![Top 10 Best Loan Organisations in Nigeria 2022](https://jaybesttrends.com/wp-content/uploads/2022/10/download-1-1.jpeg)
This bank is mandated to assist in the provision of loans for the purpose of facilitating the export of goods and services from Nigeria.
Only business owners and organisations involved in exporting are permitted to access loans, and the bank offers a direct lending facility, a foreign input facility, a local input facility, and other related services.
6. Small and Medium Enterprise Development Agency Of Nigeria (SMEDAN)
![Top 10 Best Loan Organisations in Nigeria 2022](https://jaybesttrends.com/wp-content/uploads/2022/10/images-29.png)
This agency is tasked with offering financing access to MSMEs; they offer programmes such as the commercialization empowerment initiative, conditional grant scheme, and other empowerment initiatives for entrepreneurs with expanding businesses. Top Loan Organisations.
7. Trader Moni
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This is a government enterprise and empowerment programme initiative embedded with the responsibility of providing loans to petty traders. It is collateral-free and they provide loans of NGN 10,000, which are repayable over a period of 6 months.
Beneficiaries can get higher loans if they are able to pay back their previous loans. Their interest rate is low, and eligibility requirements to access the loans, such as a government-issued ID card, passport photograph, and other valid identification documents, are minimal.
The aforementioned financial institutions are government-approved institutions for accessing loans and other credit facilities. However, to avoid delay and disappointment, commercial banks in Nigeria and microfinance institutions have also set up other means for individuals and organisations to access loans without undergoing the rigorous process required by government loan organisations.
8. The Guaranteed Trust Bank Quick Credit
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Quick Credit was founded by the Guaranty Trust Bank to provide borrowers with loans; their interest rate is reasonable, and there are no management, legal, or insurance fees associated with the loan.
They do not require collateral and are available to people with minimum earnings of between NGN 25,000 and NGN 50,000. To be eligible for a rapid credit loan, applicants must be between the ages of 18 and 59.
9. Baobab Microfinance institution
![Top 10 Best Loan Organisations in Nigeria 2022](https://jaybesttrends.com/wp-content/uploads/2022/10/images-40.png)
This organisation is regulated by the Central Bank of Nigeria to provide loans to microbusinesses, SMEs, and entrepreneurs at an interest rate of 7-16%.
You can borrow anything from NGN 20,000 to NGN 20,000,000. To qualify for a loan, you must be between 22 and 58 years old and a resident of Lagos, Nigeria.
10. The United Bank of Africa Click Credit
![Top 10 Best Loan Organisations in Nigeria 2022](https://jaybesttrends.com/wp-content/uploads/2022/10/images-2022-10-21T030806.206.jpeg)
The United Bank of Africa launched Click Credit in February 2020 to provide loans for their customers to meet their financial needs; customers can receive up to NGN 5 million and access to the loan is easy; no paperwork is required to apply; simply use the bank’s USSD code or internet banking facilities.
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