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How to get a Loan from MASLOC as an Entrepreneur in Ghana

How to get a Loan from MASLOC as an Entrepreneur in Ghana

The thought of how to get a loan from Masloc as an entrepreneur in Ghana has been pen down in this article for proper understanding.

Accessing loans over time has really not been easy for entrepreneurs due to one reason or the other.

There are a lot of good and progressive ideas lying dead, just because the manpower to put these ideas to work is limited.

Whereas, some set of people have the manpower, but lack the creativity and vision, to put that money to work.

It is so disheartening for an entrepreneur who is loaded with ideas, passion, enthusiasm, love and consistency not to have the resources to be creative.

So as such, here at Bizzyxprezz, we connect you to the rightful platform to answer the questions you have been asking.

About MASLOC

Masloc happens to be a microfinance and small loans centre, which came into existence to make the process of accessing loans easy for entrepreneurs in Ghana.

Hitherto, Masloc has provided micro and small loans for start-ups and small businesses to access loans.

Whereas, through Masloc a lot of small businesses has experienced growth and expansion which has enhanced wealth creation.

Through the provisions of sustainable microfinance, startups businesses have experienced growth and development.

Professionalism, integrity, team spirit, excellence and respect is a core value Masloc uphold with high esteem.

Therefore, this article would be centred on how to get a loan from Masloc as an entrepreneur in Ghana.

There are also credit products to note when you desire to access a loan from Masloc which are:

  1. Micro | Groups Loans
  2. Vehicle Loans
  3. On-Lending Loans
  4. Small Loans
  5. Special Project Loans

Who is an Entrepreneur?

You will agree with me that a person who summons the courage to set up an already existing plan from within into manifestation, bearing in mind the financial risks in the hope of making a profit is an entrepreneur.

It could also be seen as someone who identifies a problem, explain such problem to the clarity of the masses, predicting where and how the problem would be of effect to an individual or the society, then adding control measure by solving the problem.

What is a Business Plan?

Flowing ideas from a baked heart full of thoughts into a written document that describes in detail how a start-up business can grow, hereby defining its objectives and how goals would be achieved.

It can also be classified as an important document categorically used to attract potential investors to become part of a business.

Although, a business plan is useful for a new start-up business. In other words, all companies should have a business plan.

Periodically, this plan can be reviewed and as well updated to meet up to the trends and to also checkmate the growth of the business.

The place of a business plan cannot be under-emphasized on how to get a loan from Masloc as an entrepreneur in Ghana.

Therefore, a good business plan should capture an executive summary, the products and services, marketing strategy, financial planning and budget.

Meanwhile, a good business plan should be able to sketch out all the anticipated costs and areas of consequences that might occur due to decision making.

What are the Four Types of Business Plans?

There are more than four types of a business plan, but this article would capture just four types of business plan an entrepreneur would need on how to get a loan from Masloc.

  1. Operational planning
  2. Strategic planning
  3. Tactical planning
  4. Contingency planning

How to get a Loan from Masloc as an Entrepreneur in Ghana

The processes are different as it applies to different organization with the best approach that is attainable.

The simplicity of how to get a loan from Masloc has really made a lot of Ghanaian entrepreneurs stand out tall.

To have access to Masloc loan, there are processes one must go through, which are:

  1. To submit a written application to any Masloc district office, categoricaly stating the purpose of the loan and the amount.
  2. You will receive an invitation by one of the loan officers for preliminary assessment. It covers Masloc interest rate (1% per month) and other vital information.
  3. Your qualification would pave way for your loan application to be processed. Hereby, a business plan or proposal would be required.
  4. The micro-credit scheme are beneficiary to groups and corporative societies. A minimum of 5 and maximum of 25 members, which makes each person within the group to access a minimum of 100 GHC to a maximum of 1000 GHC. The solidarity mechanism is applied in this credit scheme. In other words, the whole group is held responsible for the repayment of the loan.
  5. Loans from Masloc are for a short period of time, maximum of 12 months within which payment with interest would be required.

Masloc Address in Ghana

Telephone: +233-302-782527 or +233-302-782528 or +233-302-782643

Postal Address: (Private Mail Bag 261)

Head Office: No. 29 Third Circular Road, Cantonments.

Fax: +233-302-782532

Email Address: info@masloc.gov.gh

Conclusion

At this junction, it has become so obvious that there is a certain prerequisite on how to get a loan from Masloc as an entrepreneur in Ghana.

The fear of how to sustain a business and avoid troubles has made a lot of young entrepreneurs remain where they are today, but the courage with the right business plan can make you succeed.

The tactics on how to get a loan from Masloc as an entrepreneur in Ghana has been explained in detail in this article.

The choice and decision are in your hands as an entrepreneur to support your business with the help of Masloc loan.

For more information, you can visit our Official Website

What do you think?

Written by Friday Gabriel

My name is Friday Gabriel, I hold a bachelor's degree in Psychology and am a Digital Marketer by profession.
My love for the assimilation and dissemination of information can never be under-emphasized.
Am passionate about bridging the gap between frequently asked question

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