Business Loan Requirements

To apply for a business loan through CedisPay, you need to meet the following requirements:

  • Consent to obtain credit bureau data and agree to CedisPay's legal terms and conditions on our website.
  • Provide a valid Ghanaian national ID (Ghana Card).
  • Show proof of your current address, such as a utility bill.
  • Provide evidence of income by submitting your most recent 3 months mobile money statement that shows steady activities for 3 months, including bills, business inventory, business expenses, loan repayment, business income, and other regular income.
  • Have a valid mobile money number that has been in operation for at least 3 months and bears your name.
  • Submit a document that shows you have existed in your current business location for at least 3 months. This could be a recent business permit license, utility bills, rent receipts, or municipal taxes.
  • Show proof of payment for recent bills, loans, or rent by submitting either a bank statement or mobile money statement that shows you pay for after consumption. This could include loans from other financial institutions, utilities, rent, association dues, postpaid services like TV, internet, and mobile phone, retail or wholesale installment, and tax payment.
  • If your credit score from the CedisPay pre-approval calculator is below 80, provide a guarantor with a good credit history.

If you meet all these requirements, you can apply for a business loan from CedisPay to help your business grow and succeed.

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