Whatever might be your reasons for getting a loan make sure you have the means of paying back. Personally don’t like most Nigerians attitude towards loan collection. I have heard of people taking loans to do parties; for crying out loud! I have not said taken loan is a bad idea but I know taken loan for the wrong reason is suicide.
So, why do I have to write about loan and how to get one without collateral? The answer is simple; there are people who want loan for the right reasons – I won’t be going into details today.
There are so many ways by which one can obtain loan; you can get a loan through money lenders or through financial institutions either way is right. I know you are not expecting me to talk about money lenders here; so, lets get started.
What is a financial institution? A financial institution is an establishment that conducts financial transactions such as investments, loans and deposits. Almost everyone deals with financial institutions on a regular basis. Everything from depositing money to taking out loans and exchanging currencies must be done through financial institutions. e.g Micro Finance Bank, Mortgage Bank (Also called SAVING and LOANS) e.t.c
Among these financial institutions there is one that was mainly designed for collecting loans without collateral – Mortgage Banks. So, In this piece I will be talking about how you can take loan from any Mortgage bank in Nigeria. There are over 35 Mortgage banks in Nigeria as at of today.
What is a mortgage bank? A mortgage bank is a bank that specializes in originating and/or servicing mortgage loans. In Nigeria a mortgage bank is a state-licensed banking entity that makes mortgage loans directly to consumers.
How To Get Loan In Nigeria Without Collateral
Step 1: Prepare a business plan ready.
Step 2: Open an account with the desired mortgage bank.
Step 3: Operate the account for at least three months (90 days). Make sure you have saved at least 20 – 30% of your desired loan. e.g if you want to borrow 100,000 you must have been able to save at least 20,000 – 30,000 in the space of that three months.
Step 4: Apply for the loan.
Please note: In most cases you will be asked to pay back the loan within the space of three months (90 days).
Now that you know what you will need to get the loan and the bank required. I think we need to talk about how to find this mortgage banks for those who don’t know. For this reason; I will be posting their contact details here!
Addresses Of Banks That Gives Loan In Nigeria Without Collateral
ACCORD SAVINGS & LOANS LTD
AG Mortgage Bank Plc was incorporated on 21st July, 2004 to carry on business as a Primary Mortgage Institution [PMI]. It was granted a mortgage banking licence by the Central Bank of Nigeria in December, 2004 and commenced full operations by 31st January, 2005. The company had since inception developed innovative products that have received the approval of the Central Bank of Nigeria.
In addition, the company has been approved by the Central Bank of Nigeria and accredited by the Federal Mortgage Bank as a window through which customers can access the National Housing Fund. However, during this period, there had been developments in the operating environment, which created new opportunities and challenges to the institution. There is therefore the need to broaden the focus of the company’s operations in order to consolidate its standing in the mortgage finance industry.
Website: http://www.aghomes.com.ng
HEAD OFFICE/OPEBI BRANCH
96, Opebi Road, Ikeja
Lagos, Nigeria.
Tel: +234-1-2704634, 4703474
Fax: +234-1-2704633
Email: [email protected]
APAPA CASH CENTER
Festact Tower, 2nd Avenue,
22 Road Beside Mr Biggs
Festact Town, Lagos.
SURULERE CASH CENTER
12A Ogunlana Drive
Surulere, Lagos.
ABUJA OFFICE
FMB of Nigeria Building,
266, Casdastral A.O., Central Business District , Wuse Abuja.
ENUGU OFFICE
48 Ogui Road, Enugu
Enugu State.
ASO SAVING & LOANS PLC
ASO Savings & Loans PLC is a Primary Mortgage Institution (PMI), incorporated in Nigeria as a limited liability company on November 9, 1995.
We formally commenced business on January 2, 1997 and converted to a public liability company (PLC) on September 22, 2005.
We are regulated by the Central Bank of Nigeria under the Mortgage Institution Decree No. 53 of 1989 to carry out the business of mortgage banking in Nigeria.
Between November 2006 and January 2007, we transited from a majority Government owned Company to a majority privately owned Company with Government holding about 16% of the Company’s equity, and in the process acquired over 3,000 new shareholders. As at December 2007, ASO had shareholders funds in excess of N4.5bn.
We were listed on the floor of the Nigerian Stock Exchange on April 25, 2008.
Website: http://www.asoplc.com
Corporate Head Office
Plot 266,
FMBN Building,
Cadastral Zone A0,
Central Business District, Abuja.
Tel: 07003300000 & 0700ASOXPRESS
BRANCH LOCATIONS
ABUJA
Area 7 Branch
No. 5 Abriba Close,
Area 7 Garki.
Bwari Branch
Bwari Township Highway, Bwari
Eagle Square Branch
Parking Lot,
Federal Secretariat Building,
Central Business District
Garki II Branch
Plot 1580 Kabo crescent,
Garki II, Abuja
Head Office Branch
Plot 266 FMBN building,
Cadastral Zone A0,
Central Business District
Jikwoyi Branch
Phase One,
Near Jikwoyi Police Station, Jikwoyi.
Kado
Kado Fish Market, Kado.
Kubwa Branch
Plot 185 Hamza Abudullahi Road
Off Gado Nasko Street.
Kuje Branch
Area Council Secretariat Road, Kuje
National Assembly Branch
Three Arms Zone, National Assembly.
Wuse Branch
Wuse Market, Zone 6.
Zuba Branch
Along Zuba Motor Park Road, Zuba.
EDO
No. 6 Akpakpava Road
Benin City
KADUNA
28, Imam House,
Ahmadu Bello Way
KANO
Murtala Mohammed Way
No 18, Opposite Daula Hotel,
Kano.
LAGOS
Victoria Island Branch
No. 18 Construction House,
Adeyemo Alakija Street,
Victoria Island, Lagos.
Ikeja Branch
19 Oba Akran Way,
Ikeja, Lagos.
NIGER
NICON Building,
No.1 Bank Road,
Minna.
RIVERS
No. 27 Aba Road, (Beside PDP Secretariat),
Port – Harcourt.
ONDO
Tisco House
Alagbaka, Akure.
FBN MORTGAGES LIMITED
FBN Mortgages Limited is a leading Primary Mortgage Bank (“PMB”) with focus on delivering the best mortgage banking services and products that typify the dominance of its parent– First Bank in the financial services industry.
As a dedicated provider of a wide range of mortgage and real estate financing solution, FBN Mortgages is in a unique position to help customers make those critical steps towards seamless home ownership and real estate development.
Website: http://fbnmortgages.com/
Corporate Head Office
76, Awolowo Road SW IKOYI,
P.O. Box 9875,
Lagos, Nigeria.
Abuja Office
No 2 Plot 451,
Area 3 Garki,
Jos Street, Abuja.
Email Us
Telephone Lines
+ 234 1 461 5860
+ 234 1 461 5861
+ 234 1 461 5862
FHA HOMES SAVINGS & LOANS LTD
FHA Mortgage Bank Ltd, a Primary Mortgage Institution was incorporated in June, 1997. The Head Office and Head office Branch is at No. 39 Durban Street, Off Adetokunbo Ademola Crescent, Wuse II, Abuja. Other Branches within FCT are in Asokoro, Lugbe and Gwarinpa.
FHA Mortgage Bank Ltd has been strategically positioned to provide mortgage facilities to individuals and corporate bodies towards financing acquisition, renovation and development of dwelling houses as well as commercial and industrial properties, while also serving as an agent of the Federal Mortgage Bank of Nigeria (FMBN) in the Management of the National Housing Fund Facility (NHFF).
FHA Mortgage Bank Ltd has a Board that comprises the MD/CE of FHA as Chairman, Six Directors; of whom is the Managing Director/CEO and a Secretary. The Management Team consists of the Managing Director and seven Heads of Department (HOD) as well as five others heading each of the Branches.
Website: https://www.fhamortgage.gov.ng
Corporate Head Office
PMB 414 GARKI, ABUJA, FCT, NIGERIA.
PHONE: +234-9-6725582
FAX: +234-9-6725582
EMAIL: [email protected]
Asokoro Branch
ABUJA, FCT, NIGERIA.
PHONE: +234-9-6725582
FAX: +234-9-6725582
EMAIL: [email protected]
Wuse Branch
WUSE ZONE 5, ABUJA, FCT, NIGERIA.
PHONE: +234-9-6725582
FAX: +234-9-6725582
EMAIL: [email protected]
Gwarinpa Branch
ABUJA, FCT, NIGERIA.
PHONE: +234-9-6725582
FAX: +234-9-6725582
EMAIL: [email protected]
Lugbe Branch
PMB 414 GARKI, ABUJA, FCT, NIGERIA.
PHONE: +234-9-6725582
FAX: +234-9-6725582
EMAIL: [email protected]
Festac Branch
FESTAC TOWN, LAGOS STATE, NIGERIA.
PHONE: +234-9-6725582
FAX: +234-9-6725582
EMAIL: [email protected]
HAGGAI SAVINGS AND LOANS LIMITED
Haggai Mortgage Bank Limited emerged following the successful recapitalization and change of name of erstwhile Haggai Savings and Loans Limited. The Bank was birthed upon the vision received by the General Overseer of the Redeemed Christian Church of God, Pastor E.A. Adeboye
The Bank which is today, one of the foremost National Primary Mortgage Bank in the country, with a shareholders fund in excess of N5Billion commenced operations in 1994 as Haggai Investment and Trust Company Limited (a SEC licensed financial institution).
It has successfully transmuted from a Community Bank to Microfinance Bank and further changed its status to a Mortgage Bank in April 2008 having obtained the approval of the Central Bank of Nigeria.
With an array of uniquely developed products specifically for the wide range of our clientele, the Bank has consistently lived her vision of Working with the Master Builder to touch lives by providing quality mortgage services and homes.
Through our dedicated workforce, year on year, we have consistently delivered growth and exceeded expectations in an increasingly complex and challenging market space.
Website: http://www.haggaibank.com
Head Office
Haggai Mortgage Bank Limited
119, Bode Thomas Street
Surulere, Lagos Nigeria
07045994840-4
Branch Office
Haggai Mortgage Bank Limited
Km 46, Lagos Ibadan Express Way
Ogun State
01-2957794-5, 01-2957801
08033225376, 07045994846
07045994849
E-mail:
[email protected]
INFINITY TRUST MORTGAGE BANK PLC
Infinity Trust Mortgage Bank Plc was incorporated on 28th January, 2002, as Infinity Trust Savings & Loans Limited. However, it commenced business operations in Abuja, in 2003.
For over a decade, our registered trademark – Infinity Homes – has remained a true reflection of our unalloyed commitment towards providing Nigerians with endless opportunities through affordable home ownership.
As part of our strategic turn-around, the bank was converted to a Public Limited Liability Company on 25th January, 2013, and had to change its name to Infinity Trust Mortgage Bank Plc. Consequently, its shares were listed by introduction on the main floor of the Nigerian Stock Exchange on December 11, 2013. In 2014, it became a National Mortgage Bank. Currently, the bank has equity shareholding in the Nigeria Mortgage Refinance Company (NMRC).
Indisputably, one of the leading and most capitalized Primary Mortgage Banks in Nigeria, the bank has significantly increased its shareholders’ funds from less than N50m in 2003, to over N5billion and maintained an unbroken record in terms of consistency in dividend payment to shareholders for nine years running. Infinity Trust Mortgage Bank Plc has wholly or partly financed no fewer than 14 modern estates in Abuja, thereby providing decent and affordable accommodation to over 3,000 Nigerian families.
In recognition of the bank’s excellent financial and corporate governance performance, the Global Credit Rating (GCR), Africa’s number one credit rating agency, recently affirmed Infinity Trust Mortgage Bank Plc’s BB+ credit rating with positive outlook in the long term and A3 with positive outlook in the short term for the 2015 rating year based on its 2014 financial result.
According to its recent rating report, the GCR, which rates about 3000 local and international organisations spanning four continents, stated that ITMB Plc was given the rating due to improvement in the bank’s competitive capacity, brand perception, corporate governance practices and robust financial performance, among other things.
Website: http://www.infinitytrustmortgagebank.com
Head Office
Address: #11 Kaura Namoda, Off Faskari Crescent Area 3, Garki, Abuja.
Phone: 07025100681
Email: [email protected]
Other Contacts
+234-7025100685 – Abuja.
+234-7025100687 – Abuja.
+234-7025100684 – Abuja.
+234-7026108775 – Abuja.
+234-7025100686 – Nassarawa State.
+234-7046479154 – Lagos State.
MUTUAL ALLIANCE SAVING & LOANS LIMITED
Mutual Alliance Mortgage Bank Limited (formerly Mutual Alliance Savings & Loans Limited) was incorporated on the 20th August, 1992 as Quality Homes Savings & Loans Limited with a paid-up capital of Ngn10 million.
In 2001 the company was taken over by strategic investors who reorganized and re-engineered bank and then changed the name to Mutual Alliance Savings & Loans Limited with a fully paid-up share Capital of N400 million.
Further to the regulator (i.e. Central Bank of Nigeria) induced recapitalization exercise the share holders of Mutual Alliance Mortgage Bank Limited through private placements increased the paid-up capital of the bank to over Ngn2.6Billion, based on this the Central Bank of Nigeria renewed/reissued the banking license of the bank on the 3rd of January 2014 because the bank had surpassed the new capital requirement for mortgage banks.
The bank has its head office situated at No 209 Oron Road, Uyo, Akwa Ibom State.
Website: http://www.mutualalliancebank.com
OUR BRANCHES
• Head Office – 209 Oron Road, Uyo, Akwa Ibom State, Nigeria
• Ikot Ekpene Branch – 34 Etokakpan Road, Ikot Ekpene, Akwa Ibom State
REP OFFICES
• Abuja FMBN Rep Office – Mbuoty Plaza, Marcus Gravey Street, Off 5th Avenue, Federal Housing Authority Estate, Gwarimpa, Abuja, Nigeria
• Lagos Rep Office – 4 Customs Street, Marina, Lagos, Nigeria
PLATINUM SAVINGS & LOANS LIMITED
PLATINUM is a PMI and does not currently participate in the interbank settlement system (clearing).
However, we have correspondent banks who participate in the interbank settlement system and any of our Customer Service Officers will be pleased to give you the sort codes as required.
Website: http://www.pmbl-ng.com
SAFE TRUST SAVINGS & LOANS LIMITED
At Safetrust Mortgage Bank Limited we esteem our vision. It is our vision which keeps us moving forward and our vision propels us into the future, ahead of our competitors.
A vision so grand, it could easily intimidate. Yet, in recent times we have taken that vision to the next inspired level of growth.
And with our rapid growing investment portfolio in mortgage and real estate industry in Nigeria, we are now the foremost Primary Mortgage Institution (PMI) in Nigeria.
Join Safetrust Mortgage Bank Limited: we are committed to providing you with successful mortgage and investment solutions to suit your individual needs.
Website: http://www.safetrustmortgagebank.com/
Head Office
Off Awolowo Road, Lagos
PHONE: 012704863,
FAX: 2704866
Ikeja Office
Ikeja, Lagos.
PHONE:07045983248, 07045983250
Agent Banking Office
Adetokunbo Ademola Crescent,
Wuse 2 Federal Capital Territory,
Abuja.
Tony Elumelu Foundation
Youwin!
Shell Livewire
African Development Bank
Seed Stars Africa
@Adeleke,thanks for your awesome contribution.
now to everyone, have you hear or use any of the above associations mentioned by Adeleke?
Please, share your experience.
I heard about associations who give loans to young entrepreneurs. I don’t know how true,reliable and efficient that can be though
Please, can you mention the name of the association? So, that we can all benefit from it.
Thanks