Frequently Asked Questions

Broadbased Loans is a financial product of Broadbased Financial Services Ltd, offering loan services under a Lagos State Money Lenders License. We provide loans to individuals and small businesses after a structured four-week savings commitment.

Our services are open to traders, small business owners, entrepreneurs, and individuals looking for financial solutions and training. Any Nigerian resident 18 years or older with a valid ID, stable income, and an active bank account can apply after completing the required savings plan.

Visit www.broadbasedloans.com, click “Sign Up”, and complete the registration form.

No, the entire process is online. You can register, save, apply for a loan, and track your account through the Members Area on our website.

To qualify for a loan, you must save a minimum of four weeks under one of our structured savings plans: Loan Qualification Plans (Contributions): - Starter Plan: ₦2,000 – ₦4,000/week for 4 weeks - Growth Plan: ₦5,000 – ₦10,000/week for 4 weeks - Business Plan: ₦15,000 – ₦25,000/week for 4 weeks Contributions are not deposits, not savings accounts, and do not earn interest. They are voluntary commitments used to determine loan eligibility.

If you miss a weekly deposit, your eligibility for loan application will be affected. However, you can catch up by making the missed payment.

You can deposit funds into your savings account via: ✅ Bank transfer to the account provided to you upon registration ✅ USSD payments ✅ Cash payments to loan officers (official receipt required) Always use your name and phone number as reference when making payments.

Yes, you can request a withdrawal if you decide not to proceed with a loan, subject to a processing period and applicable fees.

We offer the following loans: Business Growth Loan (₦50,000 – ₦2,000,000) – 4 to 12 weeks Asset Financing Loan (₦100,000 – ₦5,000,000) – 3 to 12 months Inventory Restocking Loan (₦50,000 – ₦1,500,000) – 4 to 12 weeks Emergency Working Capital Loan (₦30,000 – ₦500,000) – 2 to 8 weeks

Our Loan interest rates range from 7.5% – 10% per month, as they vary based on the loan type and client assessment. A processing fee applies, and late payments attract penalties, while early repayments may qualify for discounts.

Complete your four-week contribution commitment. Log in to your Members Area and fill out the Loan Application Form. Submit required documents (ID, proof of income, collateral or guarantors). Your application will be reviewed within 48 - 72 hours.

You need: A valid ID (NIN, Voter’s Card, or Driver’s License) Business registration certificate (if applicable) Recent bank statement (3-6 months where applicable) Proof of business operations (e.g. receipts, lease agreement)

Loan approvals take 24-48 hours, and disbursement is within 24 hours after approval.

Loan applicants must provide at least one of the following: Two Confirmed Guarantors with verifiable financial stability. Stock Hypothecation (for business owners). Business Equipment Pledge. Alternative arrangements such as cash flow records or transaction history.

Bank Transfer: Use your full name and phone number as a payment reference. Cash Payment: Pay to an authorized loan officer (only for traders and small business owners). Repayments can be tracked in your Members Area.

Yes! Early repayment may qualify for discounted interest rates.

Late payments attract a penalty of up to 5% per month. Defaulting may lead to credit bureau reporting, legal recovery action, or collateral forfeiture. We recommend making payments on time to maintain good financial standing.

If your loan is not approved, you will be notified with reasons. You can: Reapply after improving your eligibility (e.g., better collateral, additional savings, stronger financial records). Withdraw your savings (subject to review and applicable fees). Access free financial advisory services to improve future loan eligibility.

Select a product (e.g., refrigerators, generators, air conditioners). Make a 10% down payment. The balance is spread across 4 - 24 weeks. Submit the Asset Financing Application Form. Receive the product and start repayments.

Yes, we offer lease-to-own options. Ownership is granted upon completing the payment plan.

Bank Transfer: Use your full name and phone number as a payment reference. Cash Payment: Pay to an authorized loan officer (only for traders and small business owners). Repayments can be tracked in your Members Area.

Yes, payments update in real-time, upon confirmation.

Our cybersecurity training helps small businesses protect their online transactions and data. Topics include: Preventing phishing and ransomware attacks Secure online transactions Strong password policies Managing cybersecurity risks

Small business owners, traders, and employees looking to enhance their cybersecurity knowledge.

Visit www.broadbasedloans.com, go to the Cybersecurity Training section, and register for a session.

We also provide: Business Consulting – Strategy, operations, and growth advisory Financial Education – Training on money management and investment Corporate Training – Business management and leadership workshops

You can reach us via: 📍 Office Address: Basement Carpark Office, Main Tejuosho Shopping Complex, Yaba 📞 Phone/WhatsApp: +2348076226967; +2348035068484 📧 Email: admin@broadbasedfinancialservices.com 🌍 Website: www.broadbasedloans.com

Our customer support team is available Monday – Friday, 10 AM – 3 PM, and Saturdays, 12 PM – 3 PM.