Edfin Microfinance Bank: How To Open An Account, Get Loans And Repayment Plans

A microfinance bank is charged with the responsibility of providing all types of Loans and drafts ( term loan, educational loan, car/motorcycle loan, small & medium enterprise loan etc.), salary advance, target savings, hire purchase, home improvement credit, business advisory etc. But EdFin Microfinance Bank on the other hand offers it customers a particular type of loan. They are charged with the responsibility of providing Educational loans.

EdFin Microfinance Bank was established out of the need for quality education in Nigeria. The bank which is owned by Bunmi Lawson is dedicated solely to funding the education eco-space in Nigeria. It aims to positively improve the standard and quality of education in Nigeria, simply by providing the much-needed financial resources and services to the education sector. 

EdFin microfinance bank was established in collaboration with a renounced American based impact investor, Gray Matter Capital (GMC) USA; interested in improving the quality of education for underserved children in developing countries. EdFin is focused on providing a more conducive environment for private schools in order for them to be able to offer  the best service and quality education that would ensure improved learning outcomes in such schools and in Nigeria.

The EdFin Microfinance Bank has a mission which is “the provision of financial services to the education ecosystem for the realization of human potential” and a vision “to be the globally recognized bank of choice for education financial solutions in Africa as a whole”.

EdFin Savings Products

• EdFin kolo : This savings account is for specific future purpose.
• EdFin wealth: This savings account is solely meant for transaction purpose.
• EdFin wealth plus: This savings account is towards a financial goal.
• EdFin invest: This savings account is for investment purpose.

EdFin Loan Services

• EdFin wise: This is known as school fees loan, which helps bridge the gap between school fees payment and parent’s income.
• Edfin Asset: This loan is for infrastructural needs of schools (construction etc.)
• EdFin flow: This loan ensures that there’s steady cash flow in schools. It ensures the availability of working capital.(salary payment etc.).
• EdFin empower: This loan is designed for issuing personal loans to teachers and school owners
• EdFin biz: This loan is for individuals who enable quality learning and provide conducive environment for educational activities (e.g.) Vendors who supply school equipment.

READ ALSO- Airtel *444# Plans And Benefits With All You Need To Know

EdFin-LSETF ( Lagos State Employment Trust Fund) Loan Application

Step 1: visit the EdFin microfinance bank website (EdFinmfb.com).

Step 2: select apply for a loan at the top of the site.

Step 3: select the loan application process you would like to get and fill in your details.

They have two loan applications, they are as follows;

• Quick Application
• Full application

Step 4: Download the digital loan application form.

Step 5:  Download the guarantor form.

Step 6: Download the additional information form.

Repayment plans will be filled in the forms

Or

Step 1: Go to the home page of EdFin microfinance bank and click on the three dash icon on the left hand side of the site.

Step 2: select EdFin- LSETF Loan

Step 3: Click to apply.

Step 4:  write your  telephone number and email address.

(Note that maximum loan amount is N 5,000,000. )

You have applied for a loan, you will be contacted shortly after for further information.

For More Information Visit The EdFin Microfinance Bank office:

152, Ogunlana Drive, Surulere, Lagos.