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Grofin Loans Review – Requirements, How to apply and Interest rates

Last updated on August 21st, 2021 at 10:07 pm

Have you ever been in a situation when you are cash strapped and desperately need financial aid for your business? Well, we understand how this feels.  You need not worry about those expenses, Grofin loans got you covered.

In this article, we have carefully reviewed all you need to know about getting a loan from Grofin. This includes the requirements, interest rate, amongst several other things you need to know.

About Grofin Loans

Grofin is one of the fast-rising Financial Institutions in Nigeria. They are an impact-driven SME financier with a vision to help entrepreneurs succeed at their businesses. They however achieve this by providing business owners with business support and loans. Furthermore, it is a belief of the organization that the most powerful driver of social and economic development is the SME sector which creates stable jobs.

They have their headquarters in Mauritius and they generally offer support to SMEs in 14 countries in Africa, including Nigeria and in the Middle East. Additionally, they have the maximum support of 14 financial institutions and private funders who have committed about $335 million in capital to their fund.

What are the Pros and Cons of Grofin Loans?

  • They have a flexible repayment option for their customers
  • The amount of loan they will give to your business will be enough to cater to all your needs.
  • Excellent loan tenor. (Up to 8 years)
  • Up to date, they have supported about 9,630 Entrepreneurs
  • They have approved up to about $385m business loans for entrepreneurs


  • They require collateral.
  • The process might be rigorous for anyone who needs quick cash.

What are the maximum and minimum amount you can borrow?

The major reason for the existence of Grofin is to help SME business owners succeed in their business. On that note, Grofin ensures they provide enough money to cater to your business needs. Once they review your application and approve it, they make it available to you for about $100,000–1 Million.

What Interest rates apply with Grofin?

This depends on the amount you wish to borrow. However, in general their loan interest rate rises up to about 15% of the amount you borrowed.

What are the minimum requirements for taking up a loan with Grofin?

The minimum requirements for taking a loan with Grofin are not farfetched. However, before you can qualify for a loan with them, you have to meet up their eligibility criteria.

 Below are the eligibility criteria for obtaining a loan with them.

  • Your business must be in any of the following African countries: Ghana, Nigeria, Egypt, Kenya, Tanzania, Rwanda, South Africa, Zambia, and Uganda.
  • The Business must belong to you
  • Your business must have a turnover of 1.5 times your loan amount
  • You must have been operating your business for 2 years or more.
  • Your business must be profit-oriented.
  • You will need collateral to secure the loan

How fast are funds released?

Grofin funds release is lightning-fast. However, this is only possible if you satisfy all the necessary requirements after they have reviewed your application.

How do I apply for Grofin Loans?

As we have earlier stated, getting a loan from Grofin might be a little strenuous for you. However, if you persevere and go through the process, it would be worth it.

To get a loan from Grofin, kindly follow the following procedures:

  • Visit their official website on
  • Click on the Menu Icon on the far right corner of the Page
  • Select the Loan that interests you. It could be either business loans, women’s Entrepreneurs loans or Business support.

After this, they will require you to go through 4 stages. Which includes:

  • Taking Online Assessment
  • Filling an Application form
  • Review of the documents you provided
  • Approval/Rejection.

However, if you scale through these four stages successfully, your loan will be disbursed into the account number you supplied.

How do I contact Grofin Loans?

Feel free to contact Grofin Loans via any of the following media:

Head office:

  • Real plaza (Ground Floor) Plot 1 Dosumu street, off Hakeem Balogun Street, CBD, Agindingi, Ikeja Lagos
  • 77 stadium Road Port Harcourt, Rivers state.

Email Address: or

Official website:

Mobile Number: +234 7056966666, +2349090001346 (Lagos). +2347052951455(Port Harcourt)


Grofin is one of the best lending and fast loan company for SMEs in Nigeria and Africa at large. Their Interest rates are affordable, and they offer a loan tenor of up to 8 years. Simply visit their official website to secure a financial loan for your business.