Top 10 Best microfinance banks in Nigeria (2020)

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Are you a small business owner but in need of financial institutions where you can apply for business loan? If yes, this article will expose you to the list of the top 10 microfinance banks in Nigeria that gives small business loans.

Ideally, findings show that there over 1015 microfinance banks in Nigeria that are officially registered and accredited by the Central Bank of Nigeria to provide microfinance loans.

microfinance banks in nigeria

And ever since the emergence of these microlenders institutions in Nigeria, they’ve been providing various financial support programs that see to the stable economy grow in the country.

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List of the Best Microfinance Banks in Nigeria

More so, there are many microfinance banks out there offering microloans to small businesses, entrepreneurs, and individual but this article will list out the best 10 among bests.

  1. ADDOSSER Microfinance Bank Limited

ADDOSSER was established and registered to the CBN in May 2008. Ever since then, it has played an important role in rendering microfinance assistance to individuals, entrepreneurs, small and medium-sized business owners.

Also, research tells that the volume of financial assistance that ADDOSSER issued in recent years is estimated to be N13Billion with over 80,000 prospective customers. ADDOSSER really deserve a spot on the top 10 microfinance banks in Nigeria list really. Website: www.addosser.com

  1. LAPO Microfinance Bank

Another great and successful micro-financial institution in Nigeria is LAPO Microfinance Bank. LAPO has become an household name in area like Oyo, Kwara, Lagos and Ogun State. Interestingly, the bank has helped over 1 million entrepreneurs and individuals across Nigeria.

LAPO main goal is to create and develop small businesses into a profitable businesses in the region. Hence, it provides entrepreneurs an amazing money lending and microfinance services as it listen to the pressing needs of its seasoned and potential clients.

For more info about LAPO, visit www.lapo-nigeria.org.

  1. Mainstreet microfinance bank Nigeria

Mainstreet also render some banking services in the area of money lending and microfinance. This financial institution is known for giving out business loans to its potential clients to grow and expand their businesses.

Often, mainstreet microfinance bank operates in a low-income area that really need fund for business development. For further information on how they run there things, kindly visit them on www.mainstreetbankmfb.com.

  1. Accion Microfinance Bank Limited

This microfinance bank was accredited as a recognised financial institution by the CBN in 2007 and it began its operation by providing microfinance and micro-credits services to individuals and small businesses that same year.

In case you’ll like to submit a business proposal to their table, you may find some other useful information at www.accionmfb.com.

  1. AB Microfinance Bank Nigeria

AB is one of the best microfinance bank in Nigeria that offer micro-credits to entrepreneurs and individuals. It’s a foreign microlender financial institution founded in 2012.

AB offers its prospective and seasonal clients a wider scale of microfinancing services that are aimed at micro or small businesses plus new business owners that are just starting from the scratch. If you’ll like to partner with AB microfinance bank, do visit them on www.ab-mfbnigeria.com.

  1. Fina Trust Microfinance Bank

Needless to say, Fina Trust is another top microfinance bank in Nigeria that is doing great in giving microfinance assistance to entrepreneurs and individuals.

Fina Trust is so determined in assisting small businesses in developing the local SME’s. For further inquiries, visit www.finatrustmfbank.com.

  1. Microfinance Mutual Trust

MMT was established and registered in 2012. It is a microfinance bank that pays special attention to small and medium-sized businesses, with the objective of growing them into a profitable venture as possible.

Also, MMT also render microfinance services to businesswomen with small business enterprise and among others. Their official website is www.mutualtrustmfb.com.

  1. FINCA Microfinance

Finca microfinance bank was founded in 2014 in Imo state. It main goals and objective is to develop all available microfinance businesses in the Southeastern and Southwestern part of the country.

Other than microfinance services for small and medium-scaled businesses, FINCA also offer it customers loans deposits, insurance payments among other things. You can reach them on www.fincanigeria.com.

  1. Fortis Microfinance Bank Plc

One of the most successful microlender institutions in Nigeria is Fortis. The microfinance bank was registered with the CBN in 2007 and it full operation same year.

In 2011, Fortis microfinance bank was certified by the relevant authority into the Public limited company. Ever since then, it had been rendering an elaborate financial services to its clients.

For more information about Fortis Microfinance Bank Plc, visit www.fortismfb.com.

  1. Rehoboth Microfinance Bank

Rehoboth is another microlender financial institution that assist small business and entrepreneurs in funding and developing their business.

If you’ll like to consider this microlender for a business loan, kindly read more on www.rehobothmicrofinancebank.com.

Conclusion

If you are a business owner or wannabe entrepreneur, don’t hesitate to visit any of the highlighted top 10 microfinance banks in Nigeria for an excellent opportunity to grow and expand your business venture.

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