How To Apply For Masloc Loans. Complete Guide. May 2022

In this post, I am going to bring you a complete guide on how to apply for Masloc loans and all the necessary information worth knowing about these loans.

As usual, let’s start by learning more about Masloc loans before we turn our attention to the reason why you clicked on this post.

About Masloc Loans 

MASLOC provides micro and small loans for start-ups and small businesses with fast, easy and accessible microcredit and small loans to grow and expand their businesses as well as to enhance job and wealth creation.

MASLOC is committed to growing and developing small and micro businesses through the provision of sustainable microfinance, small loans and business services to Ghanaian entrepreneurs.

Types Of MASLOC Loans 

Below are the types of loans MASLOC gives to individuals, groups and associations.

  • Small/Group Loan
  • Vehicle Loan
  • Tricycle Loan
  • On lending loans
  • Special project loans

Eligibility Requirements For MASLOC Loans 

How do I apply for a Masloc loan? To answer this question, you must meet all of the company’s eligibility conditions. The general prerequisites are listed below.

Requirements For Group Loan

  • A valid Tax Identification Number (TIN) or Ghana Card
  • An active telephone and mobile number
  • A business plan for MFIs, MDAs, NGOs, Banks etc. (How to write a professional business plan)
  • A clear purpose for applying for the loan

Requirements for small loans

  • Application Letter
  • 2 Passport pictures
  • Photocopy of any National ID card
  • Business Registration Document
  • Investment plan as to how the loan will be utilised on the business (Cost, Expenses etc.) With Proforma Invoices
  • Management Account with Two (2) years financial statement
  • Document of land ownership or rented agreement document
  • Resolution letter from Board of Directors

Requirement for Guarantor:

How To Apply For Masloc Loans. Complete Guide 1
  • Three (3) guarantors
  • One (1) passport picture and photocopy of national ID
  • 6 months bank statement or three (3) months’ payslip

How to apply for MASLOC Loans

MASCLOC Loan applications are available both online and on paper. You simply need to gain access to the online application form, complete it, and submit it.

These are the details required for the online application:

  • First Name
  • Surname
  • Valid Tax Identification Number (TIN) which is now the Ghana Card
  • Telephone Number
  • Mobile Number
  • Client Type (Individual, Business, Group/Association)
  • Loan Type (Small Loan, Vehicle Loan, Tricycle Loan)
  • Client Region
  • Loan Amount Request (any reasonable amount)
  • Purpose of Loan
  • Date of Application

How to Apply Online 

  1. gov.gh/application.htm
  2. the application form will be shown right there
  3. fill in all the details required
  4. Click the submit button
  5. you’ll be given feedback after your application has been successfully processed.

Paper Application

After the online application, there is also paper documentation needed to be done and sent to the MASLOC office. Below is how to go about it.

  1. Submit a written application to the nearest Masloc’s Office stating the loan amount that you require.
  2. A loan officer from their office will invite you over for a preliminary assessment. At this stage, you’ll be given all the terms and conditions regarding the loan and any other relevant information.
  3. If you qualify for a loan after the assessment, your loan will be processed.

Contact And Address Of MASLOC 

Micro-Finance and Small Loans Centre (MASLOC)
29 Third Circular Road, Cantonments
Private Mail Bag 261
Cantonments
Accra-Ghana.

Telephone: +233 -0302- 782527, 0302-782528, 0302-782643

Call centre numbers that can be contacted: 0302-769248; 0302 782622

Fax: +233 302-782532

 

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