Baobab – online loan Nigeria
Baobab microfinance loans up to ₦10,000,000 for businesses.
Amount
₦20K – ₦10.0M
Interest from
28.00%
Term
6 – 24 months
Approval
3 business days
Applying does not commit you to a loan agreement.
Screenshot of https://baobabgroup.com/nigeria
Baobab – Microfinance Business Loans Nigeria
Baobab Microfinance Bank provides business and personal loans to Nigerian entrepreneurs and traders. Loans range from ₦20,000 to ₦10,000,000 with 6-24 month repayment at 28% annual interest.
✓ Pros
- High loan limit for microfinance
- International backing
- Both business and individual
✗ Cons
- Requires business activity
- 3-day processing
- 28% annual rate
Loan example
Loan ₦2,000,000 for 18 months at 28% annually. Monthly repayment ≈ ₦155,000.
Loan requirements
- ✓ Business or trader
- ✓ Valid ID
- ✓ BVN
- ✓ Guarantor for large amounts
Loan features
- Microfinance business loans
- ₦20K–₦10M
- 28% annually
- 6-24 months
- Group and individual
Frequently asked questions
3 business days after submitting your application.
The minimum amount at Baobab is ₦20,000.