Mkobo Microfinance Bank – What You Should Know

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Sirmike Thursday, 19 September 2024, 10:50 pm

Mkobo Microfinance Bank – What You Should Know

Mkobo Microfinance Bank is a digital bank licensed by the Central Bank of Nigeria (CBN) and insured by the Nigeria Deposit Insurance Corporation (NDIC). It was founded in 2015 and is headquartered in Lagos, Nigeria.

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Mkobo’s mission is to deliver innovative financial solutions that are clear, honest, transparent, and simple by leveraging technology to eliminate the complexity and associated costs with traditional financial services. The bank’s vision is to be recognized as a leading provider of quick, flexible, and affordable financial services to SMEs and individuals.

Why should I use Mkobo?

There are many reasons why you might want to use Mkobo. Here are a few:

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They offer short-term, unsecured loans. This means that you don’t need to put up any collateral to get a loan, which can be helpful if you don’t have any assets to use as security.
They have a wide range of loan amounts. You can borrow anywhere from N5,000 to N50,000, which should be enough to cover most unexpected expenses.
They have a quick and easy application process. You can apply for a loan online or in person, and you’ll usually get a decision within minutes.
They have competitive interest rates. Mkobo’s interest rates are typically lower than those of other microfinance banks in Nigeria.
They have a good reputation. Mkobo is a fully licensed microfinance bank by the Central Bank of Nigeria (CBN), and it has a good reputation for providing reliable and affordable financial services.

If you’re looking for a short-term, unsecured loan, Mkobo is a good option to consider. They offer a wide range of loan amounts, competitive interest rates, and a quick and easy application process.

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Here are some additional reasons why you might want to use Mkobo:

They offer flexible repayment terms. You can choose to repay your loan over a period of 3, 6, or 12 months.
They have a customer-centric approach. They are committed to providing excellent customer service and are always willing to help their customers in any way they can.
They are committed to social responsibility. They invest in community development projects and initiatives that help to improve the lives of people in Nigeria.

Overall, Mkobo is a reputable microfinance bank that offers a variety of financial services to its customers. If you’re looking for a short-term, unsecured loan, they are a good option to consider.

What services are offered by Mkobo?

Mkobo is a licensed full-service digital bank that offers a variety of financial services, including:

Loans: Mkobo offers a variety of loans, including personal loans, business loans, and asset purchase loans. Loans are available for both individuals and businesses.
Savings accounts: Mkobo offers a variety of savings accounts, including a regular savings account, a fixed deposit account, and a savings account with a specific goal. Savings accounts are available for both individuals and businesses.
Payments: Mkobo allows users to make payments to other Mkobo users, as well as to pay bills and merchants. Payments can be made through the Mkobo app or website.
Transfers: Mkobo allows users to transfer money to other Mkobo users, as well as to transfer money to other banks in Nigeria. Transfers can be made through the Mkobo app or website.
Investments: Mkobo offers a variety of investment products, including mutual funds and bonds. Investments are available for both individuals and businesses.
Insurance: Mkobo offers a variety of insurance products, including health insurance, life insurance, and property insurance. Insurance products are available for both individuals and businesses.

Mkobo also offers a number of other services, such as:

SingleView: SingleView allows users to view all of their bank account balances and transactions in one place.
Mkobo Academy: Mkobo Academy offers a variety of financial education resources, such as articles, videos, and courses.
Mkobo Rewards: Mkobo Rewards is a loyalty program that rewards users for using Mkobo’s services.

Mkobo is committed to providing simple, affordable, and accessible financial services to all Nigerians. The bank’s goal is to improve the financial well-being of 10 million ordinary Africans by 2026.

How do I apply for Mkobos’ working capital loan

To apply for a working capital loan from Mkobos Microfinance Bank, you can follow these steps:

Go to the Mkobos website and click on the “Loans” tab.
Click on the “Working Capital Loan” link.
You will be required to enter your BP number. If you do not know your BP number, you can contact your company’s HR department.
Once you have entered your BP number, you will be able to complete the online application form.
The application form will ask for your personal and business information, as well as the amount of loan you are applying for.
Once you have submitted your application, Mkobos will review it and process your loan within 24 hours.

Here are the documents you need to submit for a working capital loan from Mkobos:

BP number
Business registration certificate
Tax clearance certificate
Latest audited financial statements
Personal income statement
Bank statement for the past 3 months
Proof of address

The eligibility requirements for a working capital loan from Mkobos include:

You must be a registered business with a valid tax clearance certificate.
You must have been in operation for at least 1 year.
You must have a good credit history.
You must be able to provide collateral for the loan.

The interest rate for a working capital loan from Mkobos is 20% per annum. The repayment period is up to 36 months.

Conclusion:

in order to apply for a working capital loan from Mkobos, you will need to provide several documents including your bank statement for the past 3 months and proof of address. Additionally, there are specific eligibility requirements that must be met. These include being a registered business with a valid tax clearance certificate, having been in operation for at least 1 year, having a good credit history, and being able to provide collateral for the loan. It is important to note that the interest rate for this loan is 20% per annum and the repayment period can be up to 36 months