List of microfinance banks in Nigeria
Microfinance banks in Nigeria help to provide stable economic growth using different types of financial support programs. Such programs are often focused on financing small businesses that cannot get the necessary growth and development without them. According to the Central Bank of Nigeria - 1013 microfinance banks are officially registered in Nigeria and provide microfinance loans.
What is microfinance bank?
A Microfinance bank is a type of bank that offers microloans to its customers: individuals, entrepreneurs, and small businesses. Often, such bank operates in low-income regions that need money for development. Micro-credits are issued in small amounts for an extended period. In other words, micro-credits are aimed to help a start-ups or established businesses.
List of registered microfinance banks in Nigeria
AB Microfinance Bank Nigeria
The bank is a foreign banking institution founded in 2012. The bank's central office is located in Lagos. The bank offers its clients a full range of microfinancing services. It provides financial services that are aimed at small businesses, as well as for first-time entrepreneurs with low incomes. The bank helps its clients to receive micro-credit to expand as well as grow their own businesses.
Website: www.ab-mfbnigeria.com
Mainstreet microfinance bank Nigeria
The bank was officially licensed by the Central Bank of Nigeria to provide banking services in the field of microfinance. The primary goal of the bank is:
- help its clients to strengthen their positions in the markets
- provide small business with affordable financal assistance
- development of technologies
- strengthening of social and economic ties in the area
Website: www.mainstreetbankmfb.com
Accion Microfinance Bank Limited
The bank received an official license from CBN and began operations in 2007. The Bank is engaged in providing microfinance services to small businesses.
Website: www.accionmfb.com
Fina Trust Microfinance Bank
This bank is one of the most trustworthy microfinance banks in Nigeria. After receiving an official license from CBN, the bank has been providing microfinance assistance to small businesses in 2009. The Bank always focuses on the needs of small businesses and assists in developing local SME's
Website: www.finatrustmfbank.com
ADDOSSER Microfinance Bank Limited
The bank was registered in May 2008, it plays a vital role in providing microfinance assistance to small and medium-sized businesses, by expanding their financial capabilities. The Bank offers microfinance assistance to create growth and development of small businesses in the region. In recent years, the volume of financial assistance issued amounted to N13Billion. The bank is one of the largest in its region serving more than 80,000 customers.
Website: www.addosser.com
Microfinance Mutual Trust
The bank started its business in 2012. The management of the bank is confident that the steady growth of enterprises and companies in the region is mutually beneficial for all. MMT pays special attention to servicing small and medium-sized businesses, striving to make them as profitable as possible. The company pays special attention to microfinance of women working in small enterprises, according to the international program of assistance to groups of women in small businesses.
Website: www.mutualtrustmfb.com
FINCA Microfinance
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Finca began providing financial services in Nigeria in 2014, opening its central office in Owerri Imo state. One of the primary goals of this company is the development of microfinance business in all the Southeastern and Southwestern states of Nigeria.
FINCA Microfinance Bank LTD offers its customers:
- microfinance for small and medium-sized businesses
- loans
- deposits
- insurance payments
Website: www.fincanigeria.com
Fortis Microfinance Bank Plc
Fortis is one of the most successful microfinance banks in Nigeria. The company was officially registered and began to provide banking services in October 2007. In 2011 the company was reorganized into the Public limited company. In 2015, the company received an official license from CBN and began to provide its clients with financal services in various small businesses.
Website: www.fortismfb.com
LAPO Microfinance Bank
The bank has focused its attention on microfinance, to ensure the creation and development of small businesses in the region. By providing entrepreneurs with access to microfinance services, LAPO Microfinance Bank strives to always listen to the needs of clients. In 2010 LAPO Microfinance Bank received an official license from CBN, since then, the bank has been able to help more than 1 million entrepreneurs in Nigeria.
Website: www.lapo-nigeria.org
Rehoboth Microfinance Bank
The bank is always ready to help its clients in the development of their small business.
Website: www.rehobothmicrofinancebank.com
If you are a startup or owner of an already established business, do not hesitate to contact any of these microfinance banks, it is an excellent opportunity to start or expand your business quickly.
READ ALSO: Requirements for establishing a microfinance bank in Nigeria
Source: Legit.ng
