How to Borrow Money from Moniepoint (Business Loans Overview – 2025) - Android Pols – AI Tools, Android Tips, Blogging Guides, App Reviews, Crypto, Tech News, Business Tip

How to Borrow Money from Moniepoint (Business Loans Overview – 2025)

Moniepoint offers business loans only — no personal loans. These credit lines cater to verified business account holders, especially merchants, agents and small business operators who use Moniepoint regularly for their transactions.

Eligibility for Moniepoint Business Loan

To qualify, applicants must meet the following criteria:

Active Moniepoint business account for at least six weeks
Consistent usage of the account for transactions (e.g., withdrawals totaling ₦100,000 weekly)
Completion of KYC: verified BVN, government-issued ID, valid utility bill, and CAC registration if applicable
Good credit record and account standing with Moniepoint (Support FAQ)

How to Check Your Eligibility & Access Loan Offers

Log into your Moniepoint business dashboard via the mobile app or ATM portal
Navigate to the “Loan” section, and await prompts or pop-ups with available offers
If eligible, your dashboard will display a working capital loan offer based on your profile
Select your loan amount and repayment terms, then submit the application (NaijNaira guide)

Loan Limits, Interest & Repayment Terms

Initial loan limit starts around ₦100,000–₦200,000, increasing over time with repayment history
Loan tenure can range from 7 to 120 days—or auto-renew for eligible accounts
Interest is charged daily at 0.3%, compounding hourly (approx. 7–10% effective monthly), with savings for early repayment (Capitalist Ledger breakdown)
Upon approval, funds are credited to your Moniepoint account within 1–2 business days

Example: Borrow ₦100,000 → repay at ~~₦303 daily (~~₦9,000/month) if it runs full cycle.

Required Documents & Criteria

Bank Verification Number (BVN) actively linked to your account
Valid means of identification (NIN, driver’s license, etc.)
Utility bill (less than three months old) for address verification
Business ID documents like CAC certificate and six months ledger statements depending on facility level
Be aged 18 years or above with a consistent income structure (Moniepoint teller article)

How Repayments & Auto-Renewals Work

Repayment is automatic via Moniepoint account or linked bank account
Failure to repay within 24 hours leads to automatic rollover and further daily charges
Maintaining good repayment discipline helps increase your future loan limit

Best Practices to Get Loans Faster

Make frequent withdrawals through Moniepoint to build transaction history
Ensure timely loan repayments for increased limit eligibility
Update BVN and personal details promptly if your account changes
Avoid defaulting to maintain access and avoid recovery flags

Final Thoughts

Moniepoint provides seamless access to working capital loans for merchants leveraging its business banking platform. While interest is charged daily, early repayment lowers total cost and increases future borrowing capability. To borrow: