Providing access to finance to privately owned Micro, Small and Medium-sized Enterprises (MSME) in Liberia is one major focus of the bank. AccessBank Liberia extends exclusively individual loans and does not engage in any group loan schemes. Clients of AccessBank Liberia enjoy the following advantages:
- Procedures are simple and easy to understand;
- Processing time is short: a loan is usually disbursed within 3 working days;
- Bureaucracy is reduced to a minimum;
- Prices are transparent, no hidden costs;
- Collateral is of secondary importance;
- No necessity to organize in a group; Only individual loans
- Clients enter a long term relationship with their Bank of Choice and get access to a full range of financial services
All private entrepreneurs, regardless of their legal form or economic activity, are eligible for business loans. Excluded are only illegal activities, environmentally hazardous businesses, gambling, and the production of alcohol and tobacco products.
Eligibility:
- Entrepreneurs with registered or unregistered business
- Business existence and experience of at least 6 months
Requirements
- Your ID, Passport, voter’s ID card or driver’s licence
- Personal guarantor
- Any evidence of business ownership (registered or unregistered) e.g. tax receipt, duty receipt
Purpose
- Working capital
- Fixed assets
Interest Rate
Applicable interest rate varies depending on loan amounts.
The major focus of AccessBank Liberia’s underwriting process is an assessment of the applicant’s cash flow and his personal and professional performance. Security has only secondary importance. AccessBank Liberia can thus offer loans to clients which can not provide traditional bankable assets. The final loan decision is taken jointly by the AccessBank Liberia Credit Committee, which meets on a daily basis.
See tariff table for rates, fees, charges, maturities, minimum amounts, and other terms and conditions.
