GroFin is a specialist, impact-driven small and medium scale businesses (SMEs) loan financier. The organization helps entrepreneurs succeed by providing them with business loans and business support (expert advice and continuous guidance) to grow their businesses. GroFin believes that a growing SME sector which creates sustainable jobs is the most powerful driver of social and economic development that truly improves people’s lives.
Headquartered in Mauritius, GroFin offers financing and support to SMEs in 14 countries in Africa and the Middle East. It’s supported by 34 international finance institutions, development organisations, and private funders who have committed nearly $540 million in capital to the funds. Since its inception in 2004, GroFin has invested in 761 SMEs and sustained nearly 84,500 jobs.
FEATURES OF GROFIN LOAN
GroFin support entrepreneurs and their buisnesses with quick loan to help them thrive. It focuses on small businesses operating in education, healthcare, agri-processing, manufacturing and key services (water, energy and sanitation).
The organization is impact-driven financier and it helps entrepreneurs succeed by providing them expert advice, continuous guidance, and financing to grow their businesses.
GroFin believes that SMEs need more than finance to succeed. And that growing small businesses to create sustainable jobs is the most powerful driver of social and economic development that truly improves people’s lives.
CATEGORIES OF BUSINESS LOAN SUPPORTED BY GROFIN
GroFin only supports and finances loan for businesses with the following features:
Your SME or growing business operates in a country where GroFin has an office: South Africa, Nigeria, Ghana, Ivory Coast, Senegal, Uganda, Tanzania, Kenya, Rwanda, Zambia, Egypt, Iraq, Jordan or Oman.
Your business is in one of our preferred sectors: Education, Healthcare, Agri-Processing, Manufacturing, or Key Services (Energy/ Waste / Water / Recycling).
Your business is making a positive social and economic impact: e.g. creating jobs, empowering women, benefiting the environment, etc.
LIMITATION OF GROFIN QUICK LOAN
Does not support individual quick loan, only for certain businesses
Poor management selection of key positions.
Panic and unstructured decision making process.
Very high turnover rate.
Portfolio’s management causing great loses due to reporting issues.
Poor career progression plan.
ELIGIBILITY FOR A GROFIN LOAN
Your business operates in countries where we have an office: Kenya, Uganda, Tanzania, Rwanda, Ghana, Nigeria, Ivory Coast, Senegal, South Africa, Zambia, Egypt, Iraq (North), Iraq (South), Oman or Jordan.
You require medium-term loan capital for your business: between US$100k and US$1.5M for a loan duration of 3-8 years.
You have an established business: operating for 2-3 years and has an annual turnover of 1.5 times the loan amount. We do consider startups on a case-by-case basis.
Your business operates in one of our preferred sectors: Education, Healthcare, Agri-Processing, Manufacturing, or Key Services (Energy / Waste / Water / Recycling).
Your business is making a positive social and economic impact: E.g. Creating Jobs, Sustaining Livelihoods, Empowering Women, Benefiting the Environment.
GROFIN LOAN: HOW IT WORKS
APPLY FOR FINANCE
Our investment team reviews your submitted online assessment form against our investment criteria and informs you if we are able to proceed with your application.
GET A BUSINESS CHECK-UP
If you qualify, your Investment Manager contacts you and helps complete your application by conducting an assessment of your business, highlighting key risks and opportunities to make your business investment-ready.
LOAN APPROVAL
Your application is submitted to a committee for review. Upon approval, your application will result in an offer that will be documented in a formal letter to you.
DISBURSING OF FUNDS
Upon your formal acceptance of our offer, we proceed with disbursing funds to your business.
ON-GOING BUSINESS SUPPORT
We provide you with continuous value-adding business support focusing on your business’s needs. Our support is designed to enhance the success of your business while helping you implement your business plan.
GROW YOUR BUSINESS
On payment of your final installment, our formal involvement with your business ends. The final settlement is a good time to review your business plans and discuss any further finance and support needed in keeping with your future growth requirements.
HOW TO APPLY FOR GROFIN LOAN
The application for Grofin loan is done via the official website. It starts with the Pre-qualification Assessment
to make sure you’re qualified for the loan.
STEP 01 – Pre-qualification Assessment
STEP 02 – Application Form
STEP 03 – Documents Check-up
STEP 04 – Approval
STEP 05 – Disbursement
To apply, go to the Grofin loan application portal.
Fill the application form with valid and verifiable information about yourself and your business.
Submit the application and wait for approval.
CONTACTS OF GROFIN
For any in-person visits, please book an appointment by email:
lagos@grofin.com
43 Sobo Arobiodu Street, GRA Ikeja, Lagos, Nigeria
Monday-Friday: 8am to 5pm (Saturday & Sunday: Closed)
You can also send an email to the Lagos or Port Harcout GroFin customer service:
info.nigeria@grofin.com or info.portharcourt@grofin.com
One can also get to them via phone: +234 705 696 6666 or +234 909 000 1346 for Lagos office and
+234 705 295 1455 or +234 806 554 9089 for Port Harcourt office.
Send a message to GroFin Nigeria (Lagos).
REVIEW OF QC ADVANCE QUICK LOAN
“GroFin became our partner when banks refused our loan applications. We were short of experience, but we found all the support we needed in GroFin. They were there to help us with everything from planning to marketing and sales.” —-Sobhi Al Zubi (Arabella Extrusion Co.) – GroFin Jordan Client – Arabella Extrusion Co.
