Location :
Abossey Okai
Email :
Call Us :
0302 201817/0302 201863

Business Loan

Innovative Microfinance > Business Loan


For a business to thrive there is the need to inject funds into it. Getting a partner who can help you grow your business in such times is quite difficult as such partners usually are more concerned with what is in it for them than they are with the growth of your business. IML has therefore decided to be that partner that is ready to offer assistance to help your business grow. This product targets both customers and non-customers who own businesses such as MMSE’s as well as Petty traders among others.


  • Business should have existed and operated for at least six months, in case of activities with a highly seasonal trend (That is, with more than 3-month interval with regards to the trend, its approval will be determined by the HOCC, the minimum operational period should be 1 year).
  • Business should be validly registered in Ghana [registration & commencement certificates where applicable]
  • Business should have a regular cash flow, in the case of irregular cash flow, its pattern must clearly be defined.
  • Sales book (where available).
  • Purchases receipt and other purchases-related invoices (where available).
  • Six (6) months Bank statement (where applicable).
  • Evidence of business ownership [Directors]
  • Loan Amount ranges from GH¢500 – GH¢20,000 (single obligor limit)
  • A minimum of two personal guarantors is required.
  • Loans terminated before maturity attract one-month additional interest plus outstanding principal.
  • Loan Duration: 3 – 24 months
  • Loan Repayment Frequency: weekly / bi-weekly/monthly
  • Grace Period: Depends on loan repayment frequency
  • Interest rate: 5% monthly
  • Lien: 25%
  • Processing fees: 3.5%
  • Application form: Gh¢ 5.00
  • LPF: 2.0%
  • Loan default penalty – 0.25% daily


  • Access to financial assistance within a short period
  • Access to a revolving facility.
  • Ability to grow and expand the business


  • 3 passport pictures of a new applicant (for account opening forms, loan forms, and passbook).
  • Valid National ID card
  • 3 months’ current payslips where applicable
  • 6 months’ Official bank statement
  • 2 Guarantors