Introduction:

At Grants MFB, we believe in the power of collective growth.

Our Cooperative Loans are designed to help members of registered cooperatives, unions, and associations access affordable funding — whether for personal needs, group projects, or business expansions.Stronger financial access. Smarter community impact.

Quick Navigation:

• Why Choose Grants MFB Cooperative Loans?

• Loan Features

• Eligible Groups and Associations

• Who Can Apply?

• How to Apply

• FAQs

Why Choose Grants MFB Cooperative Loans?

• Easy Group Access: Lending made simple for cooperatives and associations.

• Affordable Rates: Special cooperative interest pricing.

• Flexible Repayment: Up to 24 months repayment plans.

• Group Guarantee Option: Members can cross-guarantee each other.

• Insurance Protection: Loan protection for individuals and group assets.

• Business and Personal Use: Loans available for personal advancement or cooperative projects.

Loan Features

• Loan amounts from ₦100,000 to ₦10,000,000 (depending on group size and repayment capacity)

• Tenor from 6 months to 24 months

• Group or individual member disbursement options

• Flexible repayment — monthly or quarterly installments

• Top-up loans available after successful repayment history

• Grants Insure coverage included automatically

Eligible Groups and Associations

• Registered Cooperative Societies

• Staff Multipurpose Cooperatives

• Traders and Artisans Associations

• Religious Organizations (registered groups)

• Market Women Associations

• Alumni Associations

• Clubs and Societies (with verifiable membership)

Who Can Apply?

• Registered groups with a minimum membership size (varies by product)

• Individuals endorsed by their registered cooperative/unions

• Groups with a formal constitution and leadership structureRequirements:

• Cooperative/Association Registration Certificate

• Group Constitution and List of Executives

• Membership List

• Valid ID Cards of applying members

• Bank Statements (for groups or members)

• Loan Application Form

• BVNs of all applying members

How to Apply, Simple steps:

a. Group leaders or representatives visit any Grants MFB branch.

b. Complete the Cooperative Loan Application Form.

c. Submit group documentation and membership records.

d. Group assessment and credit analysis conducted.

e. Approval and disbursement to the group or individual members’ accounts.

[CTA Button: Apply for a Cooperative Loan]

FAQs

1. Does my cooperative have to be registered?

Yes — registration is required to access cooperative loan products.

2. Can individual members apply directly?

Yes — with proper endorsement from their cooperative leadership.

3. Is collateral required?

Not necessarily — group guarantee models often replace traditional collateral.

4. Can our group get top-up loans?

Yes — after successful repayment cycles, top-up facilities are available.

5. Are there restrictions on what we use the loan for?

Loans can be used for approved personal, business, or community projects, depending on the cooperative’s mandate.

Final CTA SectionBuild together. Grow together.

Apply for a Grants MFB Cooperative Loan today.

Grants MFB Cooperative Loan Application Form

Grants MFB Logo

Grants Microfinance Bank Ltd.

RC: 256231

Cooperative Loan Application Form

Cooperative/Association Information:

Cooperative/Association Name:

Registration Number (if applicable):

Nature of Group:

Number of Active Members:

Address of Cooperative:

Phone Number:

Email Address:

Authorized Representatives:

Chairman/President Name:

Chairman/President Phone Number:

Chairman/President BVN:

Secretary/Treasurer Name:

Secretary/Treasurer Phone Number:

Secretary/Treasurer BVN:

Cooperative Financial Information:

Average Monthly Contribution (₦):

Average Monthly Turnover (₦):

Existing Loan Obligations (Yes/No): YesNo

If Yes, Specify Institution:

Existing Loan Balance (₦):

Loan Request Details:

Loan Amount Requested (₦):

Purpose of Loan:

Proposed Loan Tenor: Months

Preferred Repayment Structure:

Bank Account for Disbursement:

Bank Name:

Repayment Authorization:

We, the authorized representatives of the Cooperative/Association, hereby jointly and severally authorize Grants Microfinance Bank Ltd. to deduct loan repayments automatically from our group account, linked bank account(s), or any receivables due to the cooperative until full repayment is completed.

Set-Off Authorization Clause:

We hereby irrevocably authorize Grants Microfinance Bank Ltd. to set-off our outstanding obligations under this loan against any funds held in any of the Cooperative’s accounts maintained with Grants Microfinance Bank Ltd. or any other financial institution linked to our registration details or BVNs of the signatories.

NDPR Data Privacy Consent:

We hereby consent to the collection, processing, and storage of both our personal data and the cooperative’s data by Grants Microfinance Bank Ltd., in compliance with the Nigeria Data Protection Regulation (NDPR). Our data shall be used solely for purposes related to this loan application, customer relationship management, and regulatory obligations.

Declaration:

We confirm that the information provided above is true and accurate. We agree to be bound by the terms and conditions associated with this loan and by Grants Microfinance Bank Ltd. policies as updated from time to time.

Signatories: