AB Microfinance Bank — review & details
AB Microfinance Bank Nigeria is a CBN-licensed microfinance bank backed by international microfinance shareholders, lending to traders and small businesses since 2008. It offers micro loans for inventory and working capital, larger SME loans for established businesses, and housing loans — all on reducing-balance repayment, per its site.
Micro and SME specialist
AB Microfinance Bank
★★★★☆
Micro loans, SME loans, housing loans
Loan Type
Flexible instalment terms on reducing balance
Tenor
Microfinance bank (CBN-licensed)
Licence
Fast for repeat borrowers; loan officers assess new businesses in person
Speed
Market traders and small businesses without formal accounts that banks would decline
Best For
mfb
Type
Pros
- Lends to informal traders and small businesses that commercial banks typically turn away
- Reducing-balance repayment stated on its site — you pay interest only on what you still owe
- International microfinance shareholders and a long Lagos track record
Cons
- Microfinance credit is among the most expensive regulated lending in Nigeria — rates are not published, so compare the quoted monthly rate carefully
- No loan amounts or tenors published on the public site
- Branch network is concentrated in Lagos and a handful of states
Fees, eligibility & documents
Fees
InterestNot published on ab-mfbnigeria.com — quoted at the branch. MFB business loans typically carry monthly rates well above bank lending; confirm the live offer and total repayment.
Eligibility
- Operating business (registration not always required for micro loans)
- Verifiable business premises and cash flow — loan officers visit
- Valid ID and BVN
Documents needed
- Valid government-issued ID and BVN
- Evidence of business activity (stock, records, premises)
- Guarantor requirements vary by loan size
How AB Microfinance Bank compares in business loans
| AB Microfinance Bank | Bank of Industry (BOI) | Development Bank of Nigeria (DBN) | |
|---|---|---|---|
| Loan Type | Micro loans, SME loans, housing loans | — | — |
| Tenor | Flexible instalment terms on reducing balance | — | — |
| Licence | Microfinance bank (CBN-licensed) | — | — |
| Speed | Fast for repeat borrowers; loan officers assess new businesses in person | — | — |
| Best For | Market traders and small businesses without formal accounts that banks would decline | Registered SMEs with a solid plan | Longer-term MSME finance |
| Visit AB Microfinance Bank → | Visit BOI → | Visit DBN → |
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