Getting business loans can sometimes be very demanding. Majority of the times, knowing a lending agency to borrow from can be as tough as meeting up with the demands of the borrowing. This leaves many entrepreneurs confused. However, Nigerian banks are mostly business-friendly. This in the sense that they can lend you money to start up or even grow your existing business. This is why this Top Nigerian Banks That Give Business Loans To Entrepreneurs is meant for you as a business owner.
The Top Nigerian Banks That Give Business Loans To Entrepreneurs will show the banks you can approach for, for business loans. Each of these banks have their various requirements and guidelines for processing the loans. The entrepreneur must be willing to meet up with these demands before his/her loan application must be granted.
Furthermore, the interest rates of these banks and conditions are different. Each operate by their own standards. The entrepreneur is advised therefore, to evaluate the offers in these banks and compare them. By so doing, you can find one that suits your preferences. Let’s see some of these banks here below.
Top Nigerian Banks That Give Business Loans To Entrepreneurs
Here are some of the banks you can approach for business loans in Nigeria.
- Diamond Bank: Diamond Bank offers different types of loans to entrepreneurs. They include: Overdraft, Lease Finance facility, Credit cards, Salary advance, Small and Medium Enterprise loan, personal loan Etc. one of the major requirements is for you to be a registered customer of the Diamond Bank before you can apply for the loans. Each of these loans have different requirements you have to verify from the bank.
- Zenith Bank: Zenith Bank is another major bank to grants loans to business entrepreneurs in the country. You can visit any Zenith bank branch near you to evaluate the loans on offer as well as the terms and conditions.
- Sterling Bank: This is another bank that one can easily access loans from. Sterling bank has individual (personal) and corporate loans that you can access.
- First Bank of Nigeria: the First bank is a major player in the Nigerian banking systems. Some of the loans it offers include Automobile loan, Personal Home Loan, Loan against salary and Equipment Loan, Contract finance, Lease finance, overdraft etc.
- United Bank For Africa (UBA): The UBA has a major advantage over other banks: it processes loans to applicants faster than any other bank. This is provided the applicant meet up with the requirements. They also have different types of loans to meet your demands. Visit them today.
- EcoBank: Ecobank is also another bank to offers affordable loan packages to entrepreneurs in Nigeria.
- Nigeria Import-Export Bank: As the name implies, this bank focuses exclusively on businesses that are import-export oriented. The loans available include Direct Lending Facility, Export Credit Insurance Facility, Export Credit Guarantee Facility etc.
- Skyebank: Skye Bank’s loan is not just open to full time business men and women, but also has loans for students. So, students are not left out.
- Bank of Industry (BoI): The BoI is not a conventional bank like those listed above. It was primarily established to give long term financial aids for the establishment of large, medium and small-scale enterprises.
- African Development Bank: The African development bank was established in 1964/1966 primarily to drive Africa’s economic development. Since 2011, it has about 78 countries as members. Citizens of the member countries, which Nigeria is one, can apply for loans from this bank.
We have outlined the Top Nigerian Banks That Give Business Loans To Entrepreneurs. You can approach any of these banks for an exclusive detail on all the loans on offer. You will also have to be a customer of the bank before the loan can be given to you. But, even without having an account, you can approach them to evaluate what they have on offer before deciding on what to do next.
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