MASLOC, also known as microfinance and small loans centre, is a financial institution that provides small and start-up enterprises with loans to help them grow and expand. How to Apply For MASLOC Loans

Let’s look at how we can apply for masloc loans to help our company in this article. This organization is dedicated to the growth and development of small and micro companies in Ghana by providing sustainable microfinance, small loans, and business services to Ghanaian entrepreneurs. Professionalism, honesty, team spirit, excellence, and respect are some of the key characteristics that help them achieve their aims.

How to Apply For MASLOC Loans

You can apply either online or in person at their office. Take the following steps:

1. Submit a properly completed application form to any Masloc office near you. State the loan amount as well as the loan’s purpose.
2. One of the loan officers will contact you to schedule a preliminary evaluation. They will tell you anything else you need to know about the loan.
3. If you are eligible for the loan, they will review your application.
4. You will receive your loan as soon as they approve your application.

Below are some loan services rendered by MASLOC

1. Group/microloans
2. Car loans
3. Small loans
4. On-lending loans

MASLOC group/microloans

This scheme is focused on groups/cooperative societies, which have members between five and twenty-five. The maximum limit for an individual within a group is GHC 1000. This scheme uses the group-sharing principle. The entire members of the group are liable for repaying the loan.

Basic application requirements

1. Application Letter
2. 2 Passport photographs from each individual in the same group
3. National ID card
4. Business registration documents
5. Business plan

MASLOC car loans

Under its vehicle hire purchase program, the Microfinance and Small Loans Centre (MASLOC) provides saloon vehicles to unemployed people looking for work.

Individual taxi drivers, particularly the young, who belong to taxi and drivers’ unions will be able to purchase their own vehicles after repaying the loan facility within four years under the scheme.

Basic Application Requirement

1. Application Letter
2. 2 Passport photograph
3. National ID card

MASLOC small loans

Individuals can apply for a GHC1,000 minimum loan and a GHC10,000 maximum loan. They expect a loan recipient to offer suitable security. A guarantor who can repay the debt will also be supplied.

Application Requirement

1. Application Letter
2. 2 Passport photograph
3. National ID card
4. Business registration Document
5. Investment plan
6. Management Account with Two (2) years of financial statement
7. Document of land ownership
8. Resolution letter from the Board of Directors

Requirement for Guarantor;

1. Three (3) guarantors
2. One (1) passport picture
3. Photocopy of national ID
4. Three (3) months’ pay slip

Masloc on-lending loan

Microfinance Institutions (MFIs), Departments and Agencies (MDAs) and rural banks can get loans for business expansion. All MASLOC loans have a limited term of only 12 (twelve) months.

Requirement for Guarantor:

1. Five (5) guarantors (Where applicable)
2. One (1) passport picture and photocopy of national ID each
3. 6 months’ bank statement

Visit Any Masloc loan office

For further enquiries, kindly contact the call centre on the following numbers: 

Telephone:

+233-302-782527 or +233-302-782528 or +233-302-782643

Head Office:

29 Third Circular Road, Cantonments.

Postal Address:

Private Mail Bag 261

Fax:

+233-302-782532

Email:

info@masloc.gov.gh

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