Baobab is a financial inclusion group focusing on serving individuals, micro and small enterprises (MSMEs) on the African continent and in China. The company’s mission is to unleash the potential of its clients offering them simple and easy to use financial services.
Micro loans – This is for entrepreneurs, traders and students to access up to N1m for existing businesses. The interest rate charged by Baobab on loans is a minimum of 7% 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.
Steps to Apply for BAOBAB Loan 2021
- Click on “Start Now”
- Fill out the form
- Click “i declare” if you are above 18 years
- Then click submit
SME loans – They provide a loan of up to 20m to help consolidate or invest in your business, that is repayable in up to 24 months. The loan is for use as working capital or for the purchase of fixed assets.