Advans La Fayette Microfinance Bank — review & details
Advans La Fayette MFB is the Nigerian arm of the international Advans microfinance group, CBN-licensed and operating since 2013 from Ibadan with branches in Lagos and beyond. Its site advertises SME credit of up to ₦150 million with repayment terms of 6–24 months, alongside savings and fixed-deposit products, serving over 100,000 clients.
Advans La Fayette Microfinance Bank
★★★★☆
SME and micro business loans
Loan Type
6–24 months (per its site)
Tenor
Microfinance bank (CBN-licensed)
Licence
Branch-based assessment; faster for repeat clients
Speed
Growing SMEs in Oyo/Lagos and the south-west that need more than typical MFB limits
Best For
mfb
Type
Pros
- Advertises credit lines up to ₦150 million — unusually high for a Nigerian MFB, per its site
- Part of the international Advans group with a decade of Nigerian operating history
- Published 6–24 month tenors give room for real working-capital cycles
Cons
- Interest rates are not published, and MFB lending in Nigeria is expensive — insist on the full repayment schedule before signing
- Physical footprint is strongest in the south-west; borrowers elsewhere may not be served
- Larger facilities will require security, guarantors and a demonstrated banking relationship
Fees, eligibility & documents
Fees
InterestDescribed as "competitive" on advanslafayette-mfb.com; the actual monthly rate is quoted at application. Confirm the live offer and any fees.
AmountUp to ₦150 million, tenor 6–24 months — per advanslafayette-mfb.com this session; limits are profile-dependent
Eligibility
- Operating business with verifiable cash flow
- Business documentation scaled to loan size (registration for larger facilities)
- Valid ID and BVN
Documents needed
- Valid government-issued ID and BVN
- Business records/bank statements
- Collateral or guarantors for larger amounts
How Advans La Fayette Microfinance Bank compares in business loans
| Advans La Fayette Microfinance Bank | Bank of Industry (BOI) | Development Bank of Nigeria (DBN) | |
|---|---|---|---|
| Loan Type | SME and micro business loans | — | — |
| Tenor | 6–24 months (per its site) | — | — |
| Licence | Microfinance bank (CBN-licensed) | — | — |
| Speed | Branch-based assessment; faster for repeat clients | — | — |
| Best For | Growing SMEs in Oyo/Lagos and the south-west that need more than typical MFB limits | Registered SMEs with a solid plan | Longer-term MSME finance |
| Visit Advans La Fayette → | Visit BOI → | Visit DBN → |
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