Using reliable platforms like the Baobab loan platform can serve as a better alternative
to solve your financial issues be it business growing finance issues or personal issues
such as rent among others.
Every day we see people search online looking for loans to solve either their personal
finance issues or to help grow their businesses and sometimes it is hard to find a
genuine and fast loan provider as there are a lot of swindlers.
About Baobab Group
Founded in 2005, Baobab Group now provides tailored financial services including
microcredit, loans, and savings products to almost 425,000 financially underserved
entrepreneurs and individuals in eight countries on the African continent and in China.
Over 4,000 employees work together to simplify banking and meet the needs of their
customers.
Baobab currently provides easy and simple financial services which are targeted at
improving the economy of countries, they operate in for a better future for citizens.
List of Baobab Services:
1. Baobab Loans
2. Taka Loan
3. Baobab Savings
4. Channels
Baobab Loans Requirements
To apply for Baobab Loans, you will have to meet some requirements in order to be
approved for a loan. The requirements need are listed below:
â– You must own a business.
â– Business must have been in existence for some period.
â– Your location must be in Lagos State, Oyo State, and Ogun State.
Also Read: 8 Best Loan App in Nigeria
Baobab Loans
Baobab Loans was created as part of the Baobab company’s services to its clients so
as to help them grow, these loans start from N20,000 to N50 Million Naira.
Loan duration is from One (1) month to Twenty-Four (24) Months and can easily spread
through with minimum administrative procedures.
Baobab Loans Categories:
Baobab loans have lots of products to offer its clients, the loans include the following
products:
â– Mini Micro Loan
â– Micro Loan
â– Micro+ Loan
â– SME Loan
â– Cross and Group Guarantee Loan
â– Asset Finance
Mini Micro Loan
This loan category provides you with a loan amount of N20,000 – N100,000 Naira and
can be repaid by spreading through 6 to 12 months and it is accessible to business
owners.
Micro Loan
Micro Loan provides you with a loan value of N100,000 – N500,000 Naira and can be
repaid by spreading through 6 to 12 months and can be accessed by business owners
alike.
Micro+ Loan
This loan category provides you with loan amounts from N500,000 – to N2,000,000
Naira and can be repaid by spreading through 6 to 18 months, it can be accessed by
business owners.
SME Loan
SME loan is another loan option that gives you access to loan amounts from 2,000,000
to 5,000,000 and can be easily repaid spread over 6 to 18 months and can be accessed
by business owners.
Cross and Group Guarantee Loan
This loan category provides you with a loan value of N20,000 – N500,000 Naira and can
be repaid by spreading through 6 months. It is also easily accessible by business
owners.
Asset Finance
Asset Finance is another loan category that gives you access to loan amounts of
N20,000 – N50,000,000 Naira which can be easily spread through the period of 6 to 12
months for easy repayment. This loan can also be accessed by interested business
owners.
Read Also: $50 Loan Instant App – Best 5 To Get Financial Advance
How to Apply for Baobab Loan
Applying for Baobab Loans is easy as long as you have met all the requirements. To
apply for a loan with Baobab follow the below steps:
1. Visit the Baobab Website portal
2. Scroll down the page and select your loan amount with the duration
3. Now click on Start Now
4. Fill out the application form on the website
5. Wait for a call from the Call Center
6. Discuss your loan and go to the nearest branch
7. Get an application form and fill it
8. Submit the duly filled form at the nearest branch
Baobab Savings
This Baobab service allows you to invest your money and then interest based on the
amount and duration of the investment. This is what is also known as making your
money work while you sleep. You can read more about Baobab Savings Service.
E-Channels (Baobab Fast)
BAOBAB FAST is an instant transfer solution that enables customers to transfer funds
from their Baobab account to other Bank accounts by visiting any of the Baobab Banks
branches.
Read more about the Baobab E-Channels application and Benefits above.
Baobab Customer Care
Baobab Address: 16E Amhmadu Bello Way, CB Finance House. Kaduna
360, Murtala Muhammed Way, Yaba, Lagos, Nigeria.
Baobab Phone Number: +234 813 081 2526
Baobab Email: customercareng@baobabgroup.com
Baobab Working Days/Hours: Monday – Friday 8:30 AM – 5:30 PM, Saturday 10:00
AM – 3:00 PM
Baobab Bank Branches
Below are Baobab bank branch locations where you can obtain fill out forms and obtain
loans:
ABEOKUTA
Budny Place, Kemta Oloko Itoku Market, Abeokuta Ogun State
Monday- Friday 8:30AM – 5:30PM Saturday 10AM – 3PM
AJAH
ROXYZ PLAZA KM 20 LEKKI-EXPE EXPRESSWAY, ILAJE BUS STOP, AJAH, LAGOS
Monday- Friday 8:30AM – 5:30PM Saturday 10AM – 3PM
ALABA
NO 130 OLOJO DRIVE ALABA INTERNATIONAL MARKET ROAD LAGOS.
Monday- Friday 8:30AM – 5:30PM Saturday 10AM – 3PM
BODIJA
PLOT 25B, BODIJA MINI SHOPPING CENTRE, BODIJA MARKET,IBADAN, OYO
STATE
Monday- Friday 8:30AM – 5:30PM Saturday 10AM – 3PM
BROAD STREET
95, BROAD STREET, ISLAND, LAGOS
Monday- Friday 8:30AM – 5:30PM Saturday 10AM – 3PM
CENTRAL
16E AHMADU BELLO WAY, KADUNA
Monday- Friday 8:30AM – 5:30PM Saturday 10AM – 3PM
DUGBE
Baptist Building, Obafemi Awolowo Rd, Oke-Bola, Dugbe Ibadan Oyo State
Monday- Friday 8:30AM – 5:30PM Saturday 10AM – 3PM
EGBEDA
65, EGBEDA IDIMU ROAD BESIDE PRIMAL TECH PLAZA
Monday- Friday 8:30AM – 5:30PM Saturday 10AM – 3PM
GARKI
NO 38 LADOKE AKINTOLA BOLUEVARD GARKI II
Monday- Friday 8:30AM – 5:30PM Saturday 10AM – 3PM
IKEJA
PLOT 114, OBAFEMI AWOLOWO ROAD, LAGOS
Monday- Friday 8:30AM – 5:30PM Saturday 10AM – 3PM
IKORODU
41, LAGOS ROAD, BENSON BUS STOP, IKORODU, LAGOS
Monday- Friday 8:30AM – 5:30PM Saturday 10AM – 3PM
IKOTUN
142/144 IKOTUN EGBE ROAD CELE BUS STOP IKOTUN LAGOS
Monday- Friday 8:30AM – 5:30PM Saturday 10AM – 3PM
KACHIA
7A, KACHIA ROAD, KADUNA
Monday- Friday 8:30AM – 5:30PM Saturday 10AM – 3PM
KAFANCHAN
A9, KAGORO ROAD, KAFANCHAN, KADUNA
Monday- Friday 8:30AM – 5:30PM Saturday 10AM – 3PM
KAWO
RA 2, ZARIA ROAD, HAYIN BANKI, KAWO KADUNA
Monday- Friday 8:30AM – 5:30PM Saturday 10AM – 3PM
MUSHIN
21, PALM AVENUE, MUSHIN, LAGOS
Monday- Friday 8:30AM – 5:30PM Saturday 10AM – 3PM
NYANAYAN
MARARABA GURUKU, NEW KARU LGA
Monday- Friday 8:30AM – 5:30PM Saturday 10AM – 3PM
SANGO-OTA
20A, IDIROKO ROAD, SANGO OTA, OGUN
Monday- Friday 8:30AM – 5:30PM Saturday 10AM – 3PM
TRADE FAIR
BLOCK A, OPPOSITE BALOGUN GATE, BBA MARKET, TRADE FAIR, LAGOS
Monday- Friday 8:30AM – 5:30PM Saturday 10AM – 3PM
TUDUN WADA
NO 2 POLY ROAD TUDUNWADA KADUNA.
Monday- Friday 8:30AM – 5:30PM Saturday 10AM – 3PM
WUSE
PLOT 2135 HERBERT MACAULAY WAY, WUSE ZONE 5
YABA
PLOT 314, HERBERT MACAULAY WAY, SABO, YABA, LAGOS
Monday- Friday 8:30AM – 5:30PM Saturday 10AM – 3PM
ZARIA
3, MAIN STREET, NEAR PZ, ZARIA, KADUNA
Monday- Friday 8:30AM – 5:30PM Saturday 10AM – 3PM
Frequently Asked Questions (F.A.Qs) on Baobab Loan
Here below are some frequently asked questions on Baobab loans:
HOW MUCH CAN I BORROW?
The minimum loan amount is N20,000 and a Maximum amount of N50,000,000. These
depend on the borrower’s repayment capacity assessed based on verifiable business
inventory and other criteria.
WHAT TYPE OF LOAN CAN I APPLY FOR?
The loans you can apply for are business loans for businesses that are already in
existence/operation, and housing/house improvement loans.
WHAT ARE THE LOAN REQUIREMENTS?
To access any of the loan categories, you must have an existing business, the location
must be within the bank’s lending area (Lagos state, Oyo state, and Ogun state) and it
must have been in existence within a specific period.
HOW LONG DOES IT TAKE TO GET A LOAN?
It doesn’t take longer than it should, as long as the necessary requirements are
adequately met (less than 3 working days).
WHAT IS THE LOAN INTEREST RATE?
The interest rate differs depending on the loan amount. However, it is very competitive
and better than most lending companies.
DO I NEED TO OPEN AN ACCOUNT BEFORE I CAN GET A LOAN?
There is no need to create an account, and no fee is required before you can access a
loan.
Conclusion
Accessing a loan from Baobab services is easy as long as you meet the loan category
requirement.
To make your loan decision more precise, it is recommended that you talk with the
agent so as to get the best loan for you or your business.
I hope you find this information helpful and clear, if yes kindly pay visit to Dopegram.com for more information related to this and share it with those who
might find this piece of information helpful too.
