Start Ups & Money

How to Apply for a Business Loan in Ghana

Business Loan in Ghana

How to Apply for a Business Loan in Ghana

The more you know about how to apply for a business loan in Ghana, the less stressful it will be and the better your chances of getting one.

What is a Business Loan?

A business loan is a loan that is only used for business purposes. A business term loan in Ghana is a customised loan with a fixed term that is repaid in monthly or quarterly installments over a period of up to five years.

There are many financial institutions in Ghana offering such loans to small business owners, large corporations, and new entrepreneurs. A business loan is great for growing your business or starting a business. You can apply for a business loan to purchase equipment for your business or to help pay employees.

Can Ghanaians apply for business loans in Ghana?

Yes, Ghanaian citizens can apply for a business loan in Ghana. Most financial institutions in Ghana will not give business loans to startups. Before applying, you should conduct additional research on each bank or financial institution.

A business loan can help you establish or grow your business, but if you don’t know how to obtain a business loan, navigating the paperwork and loan criteria can be overwhelming. Understanding requirements, scouting for banks, and knowing how to apply for a business loan in Ghana are all steps that can help you receive the money your company needs.

Here are some documents you’ll need to apply for a business loan in Ghana.

What you’ll need:

  • Business registration documents
  • Credit bureau report
  • Six months’ statements from another bank
  • Three years’ financial statements and cash flows
  • Accepted collateral includes, but is not limited to, landed property, cash or investments (Treasury Bills), and bank guarantees from a reputable bank

You may have to meet other requirements or provide more documents based on the terms of your loan.

Banks in Ghana to apply for a business Loan

  • Sinapi Aba Savings and Loans Company Limited
  • Micro Finance Service
  • UT Bank LimitedBank
  • Ecobank Ghana
  • Stanford trust
  • Express Savings & Loans Co. Ltd.
  • Izwe savings and loan
  • First Havila Investment Group Limited
  • Kruger Financial Loan Services
  • Bailey Finance
  • UT Bank Ghana Ltd.
  • First Allied Savings & Loans Ltd
  • Stable Capital Ltd
  • Quick Credit
  • SamBoad Micro-Credit Services

You might also be asked to submit the following documents:

  • Your business plan
  • Certificate of business registration
  • Three-year financial statements and cash flows
  • Addresses for both home and business
  • Proof of ownership
  • National ID card or passport for non-Ghanaians
  • One passport photo and documents for business registration
  • Ghana card
  • Accepted collateral includes cash or investments, landed property, and a bank guarantee from a reputable bank.
  • (6) Six months statements from another bank


40+ Best Online Business Ideas for beginners


SKB Journal appreciate you a lot for reading!  If you enjoyed this piece by Samuel Kwame Boadu, kindly hit the share button and help others to also see it. You can also like our Facebook page, so you know when we make new posts or Click to JOIN our Telegram Channel where we post JOBS + TIPS.

Related posts

Leave a Comment

Samuel Kwame Boadu