Business Loans – Turbo MFB

Turbo Finance is a registered trademark of Turbo Microfinance Bank, a CBN‑licensed institution insured by the NDIC.

Personal

Business

Approved capital in minutes — minus the corporate drama.

Traditional banks have endless administrative hoops just to evaluate a loan. We do things differently. We streamline everything to give you drama-free credit built around your actual business model. In other words, we build together with you.

Why Turbo Hits Different

Turnover-first Evaluation

Traditional banks focus solely on what you own; we focus on what you do. We look at your business markers such as transaction volumes to give us a good idea of your business and to tailor what you need.

Instant Re-borrowing Limits

The moment your active credit is settled, your business limit refreshes instantly. If you need to immediately restock, the capital is available in one tap.

Upfront Fees Transparency

We don’t hide our costs in fine print or surprise you with random deductions mid-loan. Our fees are stated clearly right from the start, so you know exactly what it entails before accepting the terms.

Flexibility Through It All

Traditional lenders are rigid; Turbo offers a partnership. We take time to understand your business and tailor our products to your needs.

Flexible Repayment Structure

Whether it’s a 1-month inventory credit or a 24-month machinery acquisition, our systems are built to protect your business's cash flow.

Collateral for Speed, Not Stress

We don't use asset-backing to trap you in paperwork; we use it to open doors. We slash the risk, cut out the red tape, and instantly unlock massive limits at competitive rates.

Our Loan Products

Map Your Capital. Protect Your Margins.

Nano Loan

What is it?

Quick working capital that you can get for tight retail timelines. Designed to handle instant stock top-ups or tiny emergency operating expenses with zero collateral and zero drama.

Maximum Amount: Up to ₦20,000
Tenor: 1 Month
Collateral Required: None.

Nano Loan Calculator

SME Loan

What is it?

High-impact capital funding that is meant to help you scale operations or manage large purchase orders. The total loan value and approval depend directly on your business’s Debt Service Ratio (DSR) to keep your finances healthy.

Facility fee: 3% per month
Tenor: Up to 6 Months
Collateral Required: Moveable/fixed business assets required or inventory verification.

SME Loan Calculator

Asset Finance

What is it?

A versatile loan product that helps both individual and business clients acquire the assets they need for their business without draining their cashflow. Whether you need to upgrade your household appliances or purchasing high-capacity machinery for your storefront, we bridge the gap.

Requirement: 20% down payment, and Turbo covers the remaining 80%.
Facility fee: 3% per month
Tenor: Spanned up to 12 Months
Repayment Source: Smooth monthly deductions directly from your personal salary or your business proceeds.
Collateral Required: The financed asset itself serves as the core security.

Asset Finance Calculator

How It Works

3-Step Path to Unlocking Business Funding

Choose Your Growth Plan

Select between an SME Loan, Asset Finance, or a quick Nano Loan directly on your dashboard based on what your operations need today.

State Your Target

Share what is required. For instance, in Asset Finance, simply identify your item and upload requirements such as the vendor’s invoice.

Review & Authorize Clear-Cut Terms

We lay everything out in plain sight. No surprises. You will see details such as your scheduled monthly deduction dates. All you have to do is just authorize it.

The Mobile Experience Advantage

Run your entire business from the palm of your hand.

Real-Time Debt Service Ratio (DSR) Tracker
Don’t guess what you qualify for. The app dynamically calculates your DSR based on your business markers, showing you exactly how much you can access at any given second.

One-Tap Re-borrowing
The second an active credit line or Nano loan is settled, your business limit refreshes instantly on your screen. If you need to immediately restock, the capital is ready for a one-tap deployment.

Smart Asset-financing
Don’t drain your savings for big purchases. Put down just 20% for the machinery or vehicles your shop needs and let Turbo fund the remaining 80%. Pay it back smoothly over 12 months as you earn from it.

Proactive Repayment Alerts
We promise never to catch you off guard. Get friendly, automated heads-up notifications days before your deduction date, ensuring you can manage your payouts and float smoothly.

Instant Digital Invoicing & Receipts
Generate and download official transaction receipts and loan compliance documents instantly to share with partners, vendors, or auditors.

Frequently Asked Questions (FAQs)

What is the maximum amount I can borrow for my business?

You can access up to ₦20,000,000 on our SME Loans and Asset Financing, depending on your business’s Debt Service Ratio (DSR) and cash flow health. For quick, unsecured working capital, our Nano Loans offer up to ₦20,000.

Do I need extra collateral to qualify for Asset Financing?

For standard equipment, appliances, or vehicles, the item you are buying serves as the primary collateral. However, for exceptionally large, high-volume loan amounts hitting the upper tiers of our ₦20M limit, we may request additional moveable or fixed assets to fully secure the partnership.

What are the upfront fees associated with taking a Turbo loan?

We believe in absolute transparency. Our Nano Loans carry a ₦0 facility fee to keep quick cash accessible. For larger structural products, SME Loans and Asset Financing, there is a standard 3% upfront facility fee stated clearly before you sign. You can also access our fixed deposits that have competitive rates and don’t carry facility fees.

How do the interest rates work?

To keep your business accounting simple and free of any drama, all our credit products use straightforward Flat Rates. Nano loans are at 10% for the month, SME loans are at 8% per month, and Asset Financing is locked at 5% per month. What you see on day one is exactly what you pay throughout your tenor.

Where do my monthly repayments come from?

Repayments are structured to match your business rhythm. Depending on how your profile is set up, repayments are neatly automated via standing orders on your business proceeds or direct authorized deductions from your Turbo Finance account.

How long does it take to get a decision on an SME or Asset Finance loan?

Nano Loans are disbursed instantly. For SME Loans and Asset Financing, our team reviews your business markers such as volume capacity and asset verification within 24 to 48 hours. No endless weeks of waiting; we move at the speed of your trade.

What is the Debt Service Ratio (DSR), and how does it affect my loan amount?

Your Debt Service Ratio (DSR) is simply a math equation that ensures your monthly repayments won’t choke your operations. We look at your average monthly sales proceeds or salary and map out a healthy percentage that you can comfortably afford to pay back without putting your business or household at risk.

Can I buy my asset from any vendor, or do you have a restricted list?

You have the freedom to choose! You can identify your household appliances or business machines from any reputable, verified vendor or dealer. Simply request an official pro-forma invoice from them, upload it via the Turbo app, and once approved, we will pay them their 80% share directly to release the item.

Who handles the insurance and maintenance for the financed asset?

Since you are the owner utilizing the asset to grow your shop or run your home, operational maintenance is up to you. For high-value machinery or commercial vehicles, Turbo requires standard comprehensive insurance to protect the asset (which serves as our primary collateral) throughout the 12-month repayment term.

Maximize Your Money on the Turbo Ecosystem

Turbo Payments

What good is a loan if it’s tied up in payment delays? Create instant Virtual Cards to pay/get paid and collect physical retail proceeds with heavy-duty storefront POS Terminals.

Keep Your Operating Expenses Lean

Turn everyday operating expenses into a new revenue stream. Settle your utility expenses and get an automatic 1% cashback on every single token purchase. Want to generate extra passive income? Use the Pay4Power app to vend airtime, data, and power tokens and earn up to 1.5% commission on every transaction.

Smart Savings & Investments

Executing a project in phases? Don’t let the rest of that money sit idle. Park it in Turbo Flex to maintain 100% daily liquidity while generating steady interest, or lock portions away in a premium Fixed Deposit for high yield returns.