How to Obtain Loan from Asset Microfinance Bank

Asset Microfinance Bank (MFB) is a financial institution in Nigeria that strives to help young people establish themselves. By making loans more accessible, the institution gives adolescents more financial flexibility. Basically, the organisation helps Nigerians get loans faster, easier, more affordable, and safer. In this post, we will show you how to obtain loan from Asset Microfinance Bank .

About Asset Microfinance Bank (MFB)

Asset Microfinance Bank (MFB) is a Nigerian limited liability corporation that was founded in 2009. The Nigerian Central Bank granted them permission to provide loans to businesses and individuals in Lagos. In addition, the company claims over 30 employees. More information on microfinance banks in Nigeria can be found here.

What are the products offered by Asset Microfinance Bank?

The company sells a wide range of goods. They are as follows:

1. Loans

Individuals can get a range of loans from a microfinance bank. These loans are quick and need no collateral or interest. To make loans more suitable for customers, the institution separates them into four categories. They are as follows:

i. Microloan:

Asset Microfinance banks provide small business owners with conveniently accessible loans. The loans given often vary from 50,000 to 499,000 dollars. Microloan’s characteristics include:

  • No cheques for customers and guarantor
  • 6% rate of interest
  • Tenor days of 180 days maximum
  • Admin fee of 1%
  • Stock hypothecation

ii. Macro Loan:

This loan is larger than a microloan and is also available to small business owners. It currently ranges from 500,000 to 1,000,000 people. Macro loans have the following characteristics:

  • Cheques required for customers and guarantor
  • 5% rate of interest
  • Tenor days of 180-240 days maximum
  • Admin fee of 1%
  • Stock hypothecation

iii. SMEs Loan:

Small and medium-sized businesses are eligible for this financing. Assets Microfinance Bank provides loans to SMEs quickly and easily. In addition, the loan amount ranges from N1 million to N5 million. The following are some of the benefits of a SME loan:

  • Customers and guarantor’s cheque
  • Stock hypothecation
  • Financial statement for corporate clients
  • 5% rate of interest
  • Also, a 1% Admin fee
  • Important securities like a Motor vehicle or Certificate of ownership (C of O)
  • 180-240 days Maximum Tenor

iv. Salary Advance Loan (SALO):

This loan is for salaried people who need money for an emergency. Asset Microfinance Bank responds immediately to all requests and offers a competitive interest rate. Salary earners, such as bankers, Blue Chip Companies, and other steady firms, can also use SALO.

v. My Asset Financing (MAF):

MAF promotes clients to purchase assets for their homes or enterprises that they require. Customers can also pay in instalments while the asset is being made available for use.

vi. School Support Loan:

This loan is primarily for schools and other educational institutions. The school support loan ranges from N50, 000 to N5, 000,000.

vii. Nano:

A mobile phone-based loan platform that allows consumers to access Asset Microfinance Bank. The financial institution, on the other hand, will be reimbursed from the customer’s pay.

2. Financial savings

The Asset Microfinance bank assists you in keeping and managing your money through savings. It works in a similar way to how we keep money in traditional banks. Customers can save money in the following ways:

i. Asset Savings account:

At Asset Microfinance Bank, you can open a savings account. You can earn a good interest rate on this account. It also allows you to access your money easily and quickly without forfeiting your interest when you withdraw.

ii. My Target Savings

This product promotes potential and current customers to save money. It exists, in essence, for individuals who are willing to build a healthy saving culture while also earning returns on their investment.

How to Obtain Loan from Asset Microfinance Bank?

Simply follow the steps below to get a loan:

  • Visit one of their official locations in your area.
  • Make a request to talk with a loan officer.
  • Finally, the loan agent will hand you an application form and assist you through the application procedure.

How do I get in touch with Asset Microfinance Bank?

Any of the following methods can be used to contact Asset Microfinance Bank:

1b, Rockdrive, Phase 1, Lekki, Lagos, Nigeria

Contact No: 08116329482



Asset Microfinance Banks have aided many young people in the past. Their financing programme has proven to be a lifesaver in times of need. People have also learned how to save thanks to their savings account. Without a question, this is a bank you can rely on.

Source: Nyscinfo

1 thought on “How to Obtain Loan from Asset Microfinance Bank”

  1. Stanley REGINA

    I will be extremely grateful and also put the loan into a very good use by increasing my supply to reach many Nigerians. Thanks

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