How to Get a Business Loan in Nigeria (2026)

A business loan is credit designed for traders, shop owners, and small businesses—not personal expenses like rent or school fees. You use it to buy inventory, cover payroll, expand a stall, or meet customer demand when sales are growing faster than your cash on hand.

BAFF Business Loans offer up to ₦10,000,000 with competitive rates starting from 4% and flexible repayment plans that fit how Nigerian SMEs actually earn.

• Market women and men, shop owners, food vendors, boutique owners, wholesalers, retailers, and other small business operators
• Businesses that need working capital to restock or expand—not one-off personal bills
• BAFF users with a Tier 3 verified account and a consistent transaction history
• Applicants with a valid government ID and an active bank account linked to BAFF

• Choose a business loan if you are funding inventory, equipment, expansion, or day-to-day operations for a shop or SME. BAFF business loans go up to ₦10M and are built for traders and entrepreneurs.
• Choose a personal loan if you need ₦10,000 or more for rent, school fees, emergencies, or other individual expenses. Personal loans are not meant for shop restocking or business growth.
• Applying for the wrong product can slow approval. If you are unsure, read our personal loan guide or compare both pages before you apply.

The BAFF mobile app (iOS or Android)

A Tier 3 BAFF account with completed identity verification

Valid government-issued ID (NIN, passport, or driver’s licence)

An active bank account linked to your BAFF profile

A clear business purpose: restocking, expansion, working capital, or similar

• Download the BAFF app and create your account if you have not already.
• Complete verification and upgrade to Tier 3 in the app.
• Open the Business Loan section and start your application.
• Enter your business details, loan amount, and how you plan to use the funds.
• Review your interest rate and repayment schedule before you accept.
• Receive funds in your BAFF wallet after approval—often within minutes for eligible applicants.

BAFF business loans go up to ₦10,000,000 depending on your business profile, repayment history, and loan purpose. Your exact offer is shown in the app before you accept.

Most eligible applications receive a decision in minutes. Once approved, disbursement is fast so you can restock or invest without waiting weeks for traditional bank paperwork.

Rates start from 4% and depend on your profile and loan size. You will see your exact rate in the app before accepting any offer—no hidden fees.

Repayment plans are flexible and designed around SME cash flow. You can repay from your BAFF wallet on scheduled due dates, and early repayment is allowed with no prepayment penalty.

Yes. BAFF is licensed as a lender by the FCCPC and the Lagos State Government, so you can access business credit through a regulated financial partner.