August 18, 2023


Emergency loans

Their emergency loan product targets employees working with private organizations. Though these individuals are employed and may receive a salary, some are still marginalized by both the formal financial sector and the Microfinance industry.

Most are too poor to qualify for formal credit lines, yet too wealthy or do not have the time to participate in a traditional, group based Microfinance programs. Their product extends loans based on the company’s financial stability, staff employment history and an evaluation of their pay slip to assess ability to repay the loan.


  • Individuals can borrow from N5,000 – N50,000
  • There is no minimum monthly salary requirement
  • Employee is not required to bank with MKOBO
  • Maximum loan term is 30 days
  • Loan is paid out within 24hrs of receiving application
  • No collateral or guarantor required.
  • Minimum fuss application process.
  • Flat interest rate with no additional charges
  • Loan repayment is deducted directly from your next salary

Responsible Lending
As a responsible lender they promote financial inclusion and take reasonable steps to ensure the following;

  1. The amount of credit requested by the Customer is easily repayable from their monthly income.
  2. They take into account any other loans or debt the borrower may already have.
  3. They will also consider the purpose of the loan.
  4. Validate and provide information available on the Customer to the relevant Credit bureau agencies.
  5. Incorporate foreseeable changes in the Customer’s situation into their lending model.

Their aim is to help Employees meet short term emergency needs who are underserved by the Commercial banks, by providing affordable and accessible loans.

How to Apply

  1. Contact your HR for your Company’s unique BP NUMBER.
  2. Complete the online application.
  3. Once they receive your application they will process your application
  4. Money will be in your bank account within 24hrs

Personal loan

Their Personal Loan mean is for people looking for larger loans for a longer duration, to cover funding gap such as rent payment, school fees, family emergency, medical expenses, car expenses etc. You can apply online 24hrs and the process is very simple, convenient and straightforward.

Product Features

  • Borrow from N51,000 – N500,000
  • Competitive interest rates
  • Low Processing & Admin fee
  • Maximum loan term of 6 months
  • There is no minimum monthly salary requirement but your monthly repayment cannot be more than 33% of your monthly salary.
  • Repayment via direct debit directly from your salary account.
  • Very quick turnaround, loan is usually paid into your account same day of receiving your fully completed application form.


  1. Must have been in current employment for a minimum of 6 months
  2. Must provide proof of employment & be confirmed staff
  3. Must provide valid work ID
  4. Must provide last 3 months pay slip
  5. Must provide a valid official ID (Passport, Driver’s License, National ID or Voters Card)
  6. Must provide one proof of address dated within last 3 months.
  7. Must provide most recent stamped 6 months bank statements.
  8. Must provide NUBAN cheque to cover loan repayments
  9. They may request a Guarantor in some cases

How to Apply

  • Complete our online application
  • Call them on 0700 000 65626 | 081 425 28301 | 0908 0640 4444
  • You can also email them at
  • Once they receive your application and documents they process your application immediately.
  • Offer letter will be sent to you once approved stating clearly the payment plan
  • Money will be in your bank account within 24hrs

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