Business Loan
4% per month · up to 24 months
Grow your trade or small business with working capital repaid over a longer tenure.
- Amount range
- ₦20,000 – ₦50,000,000
- Interest rate
- 4% / month
- Repayment tenor
- 24 months
Loan products
Loan products & eligibility
Every loan offered by MUTUAL GROWTH CO-OP, with the amount you can borrow, the monthly interest rate, the repayment tenor, the eligibility rules and the documents you need. Applications are opened from the Join page.
Available products
Choose the loan that fits your goal
Rates, limits and tenors below are set by the co-operative. Each member application is reviewed and approved by the office.
Education Loan
3.5% per month · up to 18 months
Invest in skills and education with repayment spread after your course.
- Amount range
- ₦50,000 – ₦1,000,000
- Interest rate
- 3.5% / month
- Repayment tenor
- 18 months
Emergency Loan
3% per month · up to 6 months
Fast, low-cost support for urgent situations, approved quickly by the admin.
- Amount range
- ₦20,000 – ₦300,000
- Interest rate
- 3% / month
- Repayment tenor
- 6 months
Personal Loan
5% per month · up to 24 months
Flexible funding for personal needs such as rent, school fees and medical bills.
- Amount range
- ₦50,000 – ₦1,500,000
- Interest rate
- 5% / month
- Repayment tenor
- 24 months
Eligibility rules
Who can borrow
Active membership
You must be an approved, active member of the co-operative with a savings history.
Savings record
Your savings with the co-op help determine how much you can borrow, currently up to 2x your savings.
No outstanding arrears
Existing loans must be in good standing, with no overdue instalments.
Guarantors
At least one guarantor must confirm your loan before it can be approved.
Within limits
Your application must fall inside the minimum and maximum for the loan product you choose.
Admin review
Every application is reviewed and approved by the co-op office before disbursement.
Required documents
What to prepare
- A valid government-issued ID (National ID / NIN, International Passport, Driver License or Voter Card).
- A recent passport photograph uploaded on your member profile.
- A completed loan application form describing your purpose of borrowing.
- Guarantor details: full name, phone number and email for at least one guarantor.
- Your bank account name and account number for disbursement.
Documents are submitted from your member profile after you join. The office will contact you if anything else is needed.
Start borrowing
Ready to apply for a loan?
Join the co-operative first, then submit your loan application from your member dashboard. Our office reviews every request and keeps you updated.