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Loan

Grofin Loan

Are you wondering how you can get a loan to finance your business? I have brought you a good news, because in this post you will learn everything you need to know about Grofin Loan which is a loan for entrepreneurs and Micro, Small and Medium Scale Enterprises (MSMEs).

Grofin Loan

Requirements

Before we delve into how you can apply for the loan, you must understand that you must meet the following criteria before you will be offered the loan. So below are the eligibility criteria for Grofin Loan.

  1. Your business must be operating operates in one of the following Sub-Saharan countries: Nigeria, Ghana, Zambia, Egypt, South Africa, Kenya, Tanzania, Rwanda and Uganda.
  2. Your business focus must be for profit.
  3. Your business should have a turnover of less than US$ 15 million and assets worth less than US$ 6 million.
  4. Your request for finance must be between US$ 100,000 and US$ 1.5 million.
  5. You must be the owner and the operator of the business or that you the business is substantially involved in running the business.

So to be considered for this loan, you must meet the above criteria.

How to apply

The application for Grofin loan is done via the official website. It starts with the Pre-qualification Assessment to make sure you’re qualified for the loan.

  1. Go to the Grofin loan application portal.
  2. Fill the application form with valid and verifiable information about yourself and your business.
  3. Submit the application and wait for approval.

Interest Rate

The interest rate of Grofin loan rises up to 15% per annum.


Other Popular Banks That Gives Loans In Nigeria:


Repayment

The Grofin loan repayment is spread along a period of 3 to 8 years. The loan tenor is perfectly aligned with the purpose of taking the loan; that is why there is variation in the loan tenor for different purposes.

Pros & Cons

ProsCons
  • Flexible repayment options
  • Maximum tenor of 8 years.
  • The amount of loan is enough for business.
  • Collateral required
  • The application process is rigorous.

Mobile App

N/A

Customer Care

You can get to the Lagos or Port Harcout GroFin customer service via mail:

info.nigeria@grofin.com or info.portharcourt@grofin.com

One can also get to them via phone: +234 705 696 6666 or +234 909 000 1346 for Lagos office and

+234 705 295 1455 or +234 806 554 9089 for Port Harcourt office.

Official Websitewww.grofin.com
Contact Number+234 705 696 6666 and +234 909 000 1346

Branches & Head Office

Grofin has both Lagos and River States offices.

Lagos Office: Reals Plaza (Ground Floor) Plot 1 Dosumu Street, Off Hakeem Balogun Street, CBD, Agidingbin, Ikeja, Lagos.

Port Harcourt Office: 77 Stadium Road, Port Harcourt, Rivers State.


Here are some other Banks that offer loans in Nigeria: Trader Moni Loan,Branch Loan,Loan Shark