Home BusinessLoan Apply For BAOBAB Loan 2022 – Quick Access To Loans (N20,000)

Apply For BAOBAB Loan 2022 – Quick Access To Loans (N20,000)

Here in this article you will learn how you can apply for the BAOBAB Loan in quick steps. Read below for elaborate information...

by Eniola Samuel
1 comment
Baobab Loan

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 such as rent among others.

It’s 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:

  • You must own a business
  • Business must have been in existence for some period
  • Your location must be in Lagos State, Oyo State, and Ogun State

Baobab Loans

Baobab Loans was created as part of the Baobab company’s services to its clients so as 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.

Read Also: Bamboo Investment App: How to Get Started and Earn

Baobab Loans Categories:

Baobab loans have lots of products to offer its clients, the loans include the following products:

  • Mini Micro Loan
  • Micro Loan
  • Micro+ Loan
  • SME Loan
  • Cross and Group Guarantee Loan
  • 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.

Quick Read: List Of 8 Best Loan Apps in Nigeria For Quick Loans

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.

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 share it with those who might find this piece of information helpful too.

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1 comment

Joy James Etim April 22, 2022 - 6:09 am

I am looking forward to getting approved for this loan…

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