Loans

How to get a loan in Calabar

Calabar is one of Nigeria’s top tourist destinations and also the capital city of Cross River State and there are a lot of economic activities going on in Calabar. You may be a small or large scale business owner, a farmer or a civil servant and you are looking for firms that give out loans in Calabar either for business, education or other purposes. In this article, I will be showing how to get a loan in Calabar. I will list out the reliable Institutions you can get a loan from, the requirements and the processes involved.

Asides from commercial banks, there are other firms where you can get a loan in Calabar with and without collateral. Some have very high-interest rates while some have low-interest rates.

Institutions that give out loans in Calabar

Commercial banks:

You can get a loan from any commercial bank in Calabar. All major banks in Nigeria and West Africa have one or more branches in Calabar. These bank loans require collateral and have high-interest rates with strict policies.

Ekondo Microfinance bank:

The Ekondo Microfinance bank operates in Cross River State with its headquarters located in Calabar. They offer several loans. They include; the salary advance scheme, welfare loan scheme, group loan, micro loan and the Ekondo fast cash. The Ekondo fast cash is designed for Cross River civil servants, you can get cash within 24 hours without any guarantor.

You can click here to Apply

Bank of Industry loan

The Bank of Industry loan is a loan scheme started up by the federal government of Nigeria to provide loan credit facilities for industrial equipment used in manufacturing to business owners. The bank of industry has a branch office in Calabar. You can walk in there and learn more about how to get a loan in Calabar.

Click here to learn more on how to apply for the bank of industry loan

Lapo Microfinance bank

The Lapo microfinance bank has a branch in Calabar where you can get a loan. Their interest rate is as low as 2.5% and they give out regular loans, SME loans, educational loans and agricultural loans. Lapo is one of the most popular in Calabar. Most business owners in Calabar get loans from Lapo due to their low-interest rates and friendly policies.

Click here to apply for a loan from Lapo

Unical Microfinance bank

The Unical microfinance bank is owned by the University of Calabar and it has several branches across Cross River State. They give out loans to micro and small businesses from 5,000 Naira up to 500,000 Naira, with a maximum maturity of 18 months. Also, UMFB easily gives out loans to staffs of the University and to student associations.

Click here to apply

How can I get a loan urgently?

The Ekondo fast cash loan scheme gives out loans within 24 hours without any guarantor or collateral. You can also get loans urgently from the fast-spreading loan apps in Nigeria.

Conclusion

The above-listed institutions are not the only firms that give out loans in Calabar but they are the most popular and most reliable. This article has given has shown you how to get a loan in Calabar and the most trusted institutions. You should note that some firms are scams and you should avoid them.

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