ab microfinance bank
AB Microfinance Bank Branch Ikotun

AB Microfinance Bank tops the chart as one of the best microfinance bank in Nigeria that offers loans without collateral.  In this post, we will talk about AB Microfinance Bank loans and AB Microfinance Bank branches in Nigeria.

AB Microfinance Bank Nigeria is a foreign-owned financial institution based in Lagos and one of the few microfinance banks that offer loans without collateral and still gives you the best interest rates.

It was duly incorporated as a limited liability company under the 2002 Companies and Allied Matters Act and is regulated by the Central Bank of Nigeria as a fully fledged Microfinance Bank.

AB microfinance bank loans are aimed at entrepreneurs who are in urgent need of cash. AB microfinance bank micro-loans, micro SME loans and medium SME loans are structured to help micro, small and medium-sized enterprises (MSMEs) and business owners who are looking for loans and do not possess enough collateral to back up the loans.

AB Microfinance bank also allows individuals to take loans without collaterals.  AB Microfinance loan amount ranges from N15,000 to N2 million.

AB Microfinance bank loans are committed to improving the business opportunities of entrepreneurs by making loans more accessible and affordable.

Features and Benefits of AB Microfinance Loans

  • An audited financial statement is not required
  • No mandatory savings/deposits required
  • No cash collateral required
  • Interest rate discounts present for long-standing clients with an impressive repayment record and this also qualifies them for a faster loan processing
  • Individual responsibility for loans – No borrower groups.
  • Flexible required documentation.
  • Collateral arrangements are flexible and based on the loan size (business facilities and equipment, household goods, vehicles, goods in stock, property etc)

Eligibility Requirements for AB Microfinance Loans

  • Applicant must be 21 years or above
  • Applicatant must have a reliable means of income for the past 12 months
  • Applicant must be the owner a of business
  • Applicant must be a Nigerian
  • Applicant must reside in Lagos, Oyo and Ogun States only.
  • Applicant’s business must be within the operating area

Types of Loans Provided By AB Microfinance Bank

  • Micro loans
  • Micro SME loans
  • Medium SME loans
  • Housing Loans

AB Microfinance Bank – Micro Loan Products And The Interest Rates

Loan Products

Name                                    Amount Available                       Interest Payable

AB Business Flexi           N15,000 – N100, 000                             6.5%

AB Business Plus            N100, 001 – N500, 000                          6.1% )

AB Business Max            N500, 001 – N1, 000, 000                      5.7%

Maxiplus                      N 1,000, 001 – N 2, 000, 000                   5.2%

AB Microfinance Micro SME Loans

AB Microfinance Bank offers owners of small and medium size enterprises the opportunity to access soft and easy loans in the quickest and most efficient way.

With AB Microfinance bank loans, prospective borrowers do not need to have saved any money with the bank before applying for a loan. The requirement for applying for loans is an existing, viable business.

Documentation and requirement for collateral are more flexible compared to other banking institutions or microfinance banks.

Benefits of AB Microfinance Bank Micro SME Loans

  • Loans from N2,000,001 to N3,000,000 for your existing business
  • Interest rate of 4.3% monthly on reducing balance
  • Disbursement fee of 1% of the loan amount
  • Maturity period from 6 to 36 months with equal monthly installments
  • Hard collateral required (vehicles, landed properties, etc.)
  • Free SMS Reminder for your Monthly Repayments

 

  AB SME Access AB SME Comfort
Amount in NGN 2,000,001 5,000,000 10,000,000 20,000,000
Maturity (months) 13 13 13 13
Interest Rate p.m. 4.3%(on reducing balance) 3.9%(on reducing balance) 3.6%(on reducing balance) 3.0%
Installment in NGN (Monthly) 204,034 497,617 976,740 1,880,591
Disbursement fee 1%(One-off Charge) 1%(One-off Charge) 1%(One-off Charge) 1%(One-off Charge)

 

Benefits AB Microfinance Bank Medium SME Loans

Loans from NGN 20 Million and above for your existing business

Competitive Interest Rate of 3.0% monthly on reducing balance

Disbursement fee 1 – 1.5%

Maturity period from 4 – 36 months with equal monthly installments

Diverse types of collateral accepted

Free SMS Reminder for your Monthly Repayments

Benefits of AB Microfinance Bank Housing  Loans

Housing loan without equity contribution or compulsory savings

Free expertise including house design and bill of quantities

Access to quality building materials and building materials retailers network

To find out more on housing loans, you can check here (link to the housing loans)

How to Apply for AB Microfinance Bank Loans

Simply, visit the AB Microfinannce bank branch nearest to your to submit your proposal or log on to their official website.

AB Microfinance Bank Branches

AB Microfinance Bank Branches In Lagos

 

AB MICROFINANCE BANK HEAD OFFICE (LAGOS)          

28, Akintoye Shogunle Street

(Opposite No 2 John Olugbo Street), Ikeja, Lagos

AB MICROFINANCE BANK IKEJA          

No. 11, Oba Akran Avenue, Ikeja, Lagos

01-2122387,  01-2122386

AB MICROFINANCE BANK OSHODI     

No. 12 Oshodi-Apapa Expressway,

by Oshodi Oke Bus Stop,

Opposite Mecure Healthcare Limited, Oshodi, Lagos

07098119477, 07098119475,

07098119478, 07098119476

AB MICROFINANCE BANK IPAJA          

No. 319 Ipaja Road,

Opposite Government College,Iyana-Ipaja, Lagos

07027999467, 07027996479, 07027996478,

07027996477, 07027996480,

AB MICROFINANCE BANK SURULERE           

29B Itire Road, Surulere, Lagos

07027996474, 07027999466, 07027996473,
07027996475, 07027996476

AB MICROFINANCE BANK KETU           

56 Ikosi Road, Ketu, Lagos

07027996505, 07027996504, 07027996471,

07027999468, 07027996506

AB MICROFINANCE BANK APAPA        

74 Mobil Road, Ajegunle, Apapa.

07027999469, 07027996501, 07027996502,

07027996469, 07027996503,

AB MICROFINANCE BANK ALABA        

20/22 Ojo-Igbede Road.

Chemist Bus Stop, Alaba Int’l. Market

07027999472, 07027999479,  07027999480

AB MICROFINANCE BANK TRADE FAIR        

No Zone Dr.4 Aspamda Plaza,Trade Fair Complex, Badagry Expressway,Lagos State. Former Sterling Bank Building.

07027999481, 07027996511, 07027996468,

07027996510, 07027996494,

AB MICROFINANCE BANK LAGOS ISLAND  

26,Idumagbo Avenue,Lagos Island

07027996497, 07027996496,  07027996498,

07027996500, 07027996499,

AB MICROFINANCE BANK VOLKS        

179,Lagos Badagry Expressway Volks Bus Stop,Lagos

07027996508, 07027996507, 07027996509,

07027996481 07027996466,

AB MICROFINANCE BANK BARIGA      

72,St.Finbars Road,By Chemist Bust Stop, Akoka Lagos.

07027996467, 07027999492, 07027999482,

07027996493, 07027996482

AB MICROFINANCE BANK OKE ARIN 

No 18,Ijaiye Street,Idumota, Oke Arin Market, Lagos.

07027996488, 07027999470, 07027996489,

07027996491, 07027996490,

AB MICROFINANCE BANK IKORODU  

75,Ipakodo Road,

Opposite mobil petrol station,Ebute,Ikorodu Lagos.

07027996483, 07027996484, 07027996485,

07027996486, 07027996487

AB MICROFINANCE BANK IKOTUN     

26 Isolo Egbe Road,

Beside The Synagogue Church, Ikotun, Lagos.

07027999484, 07027999483, 07027996495,

07027999486, 07027999485,

AB MICROFINANCE BANK ARUNA       

132A, Aruna Bus stop, Lagos Road, Ikorodu, Lagos State.

09024970069

AB Microfinance Bank Branches in Oyo state

AB MICROFINANCE BANK DUGBE       

Rational Building, 22, Oke Bola Road,

Behind Femi Johnson Plaza, Dugbe Ibadan. Oyo State.

02-2918707, 02-2918708, 02-2918709,

02-2918730, 02-2918731

AB MICROFINANCE BANK GBAGI         

Lamlat Shopping Complex,

New Gbagi Market Road, Ibadan, Oyo State.

01-2934865,  01-2934866

AB MICROFINANCE BANK BODIJA      

Block A6, IBNLG Ultra Mordern Shopping Complex,

Bodija, Ibadan, Oyo State.

09024970065

AB Microfinance Branches in Ibadan and Ogun State

AB MICROFINANCE BANK ABEOKUTA           

Oluwatoyin House, Lalubu Road, Oke-Ilewo, Abeokuta, Ogun State.

09024970068

AB MICROFINANCE BANK SANGO        

129, Idi Iroko road, Ota, Ogun State.

09024970067

This is the complete process of how to apply for AB Microfinance Bank loans and the complete list of AB Microfinance Bank Branches in Nigeria.

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