How to Access 10 Million Naira Working Capital & Equipment Loans
‘If only I can get some extra cash to put into this business’… how many times have you let your thoughts wander on the ‘If’ land?
Of course, running a small business in Nigeria today requires more than just passion and hard work. It demands smart financing.
Whether you’re scaling operations, purchasing new equipment, or maintaining a healthy cash flow, access to reliable capital is key.
The good news? Nigerian SMEs can now access up to 10 Million Naira Working Capital & Equipment Loans—with flexible terms and minimal collateral.
In this article, I’ll be breaking down everything you need to know, from what the loans cover, who qualifies, how to apply, and how to use them strategically for business growth.
What Are Working Capital & Equipment Loans?
Before diving into the funding process, let’s clarify what these loans mean for your business:
Working Capital Loan: Short-term financing that helps cover your day-to-day operating expenses—like rent, payroll, stock, and utilities.
Equipment Loan: Funds used to purchase or lease machinery, tools, vehicles, or technology that improves productivity and business output.
Combined, these loans offer SMEs a lifeline to stay competitive and operational, especially in tough economic times.
Why Your Business May Need Up To ₦10 Million in Capital
Nigeria’s business environment is dynamic but challenging. If you run a manufacturing, retail, logistics, construction, or service-based business, you’ll likely need:
- Funds to restock inventory and meet large orders
- Capital to acquire or upgrade machinery and tools
- Financing to fulfill contract jobs (LPOs or service agreements)
- Money to pay salaries and overheads while waiting on receivables
- Vehicles or logistics equipment to scale distribution
- A ₦10 million facility gives you the breathing room to grow without sacrificing operational stability.
Key Benefits of 10 Million Naira Working Capital & Equipment Loans
Fast Approval: Some lenders disburse funds in 3–5 working days
No Heavy Collateral: Many lenders accept cash flow or inventory as security
Flexible Tenure: Repayment terms from 3 months to 24 months
Business Growth: Boost production, expand customer base, and fulfill large contracts
Tax-Deductible: Interest on business loans can be claimed as an expense
Who Can Access These Loans in Nigeria?
To qualify for up to ₦10 million, you typically need to meet the following:
Requirements
Business Registration: Must be a registered business with CAC
Business Age: Minimum 6–12 months in operation
Business Finance: Must maintain an active business account with regular cash flow (bank account statement or cash flow).
Collateral: Optional
Guarantor: Necessary
Personal Identification: Valid means of identification (National ID, License, Passport)
Where to Get 10 Million Naira Working Capital & Equipment Loans in Nigeria
Here are some reputable lenders and institutions offering funding options to SMEs:
| Lender | Loan Type | Amount Range | Collateral | Application Mode |
| Bank of Industry (BOI) | Working/Eqpt Loans | ₦1M – ₦10M+ | Required | Online/Physical branches |
| Development Bank of Nigeria | Term Loans | ₦500K – ₦10M | Partner-based | Through Microfinance Banks |
| Moniepoint Business | Working Capital | ₦500K – ₦10M | Low | Via Business Dashboard |
| LAPO Microfinance Bank | Equipment/Business | ₦200K – ₦5M | Minimal | In-branch |
| Commercial Banks | Asset/Equipment Loans | ₦1M – ₦50M+ | Yes | Through RM or loan desk |
Mecer Consulting Working Capital & Equipment Loan
Out of all the options above, there’s still one that promises to grant you loan in no time; with close to ZERO collateral, anywhere in Nigeria, fast payout, low interest rate (the lowest on the block), flexible repayment plan, and via seemless online application process. The answer is Mecer Consulting Limited!
Why Get The Mecer Consulting 10 Million Naira+ Working Capital/Equipment Loan?
Mecer Consulting is not a new kid on the block. We have been working with businesses in Nigeria and around West Africa for the past 20 years. We have partnered with them in various capacity including Accessing and Securing Funding.
With Mecer Consulting, you’re not just getting the funding your business needs but a partnership that opens the door to network with more entrepreneurs and businesses across West Africa as well as our rich advisory services.
To get started with the Mecer Consulting Working Capital and Equipment Loan? Fill this form.
How to Apply for a Small Business Loan in Nigeria (Step-by-Step)
- Get Your Documents Ready
- CAC certificate
- TIN (Tax ID)
- 6–12 months bank statements
- Utility bill, valid ID, and passport photo
- Business plan or cash flow statement (for some lenders)
- Assess Your Creditworthiness
- Clean up existing debts
- Make regular deposits into your business account
- Avoid returned cheques or frequent negative balances
- Choose the Right Lender
- Compare interest rates, tenure, ease of access, and repayment terms
- Submit Application Online or Offline
- Fill out loan forms, upload documents, and await approval
- Get Disbursed
If approved, funds are disbursed to your business account within days
Important Tips Before You Apply
- Don’t borrow for lifestyle or personal expenses
- Understand the terms—interest, late fees, hidden charges
- Track your spending—ensure the loan works for business productivity
- Make early repayments to increase your loan eligibility in future
- Work with a business consultant to prepare a compelling loan application
How We Can Help Your Business Get Funded
At Mecer Consulting Limited, we not only specialize in helping Nigerian SMEs…we are super passionate about helping Nigeria Businesses to grow and hit their full potential.
Asides offering you the very best and supportive Working Capital and Equipment Loan, we can help you access funding for your other business needs. We can help you;
- Prepare bankable business documentation and cash flow projections
- Identify the right funding partners for your industry
- Structure your business for long-term financial health
- Support loan applications with advisory and training
Need help accessing up to 10 Million Naira Working Capital & Equipment Loans?
Let our experts guide you every step of the way.
Get in touch with us now.
Conclusion
Accessing 10 Million Naira Working Capital & Equipment Loans is a game-changer for Nigerian entrepreneurs. Whether you’re scaling your production, purchasing vital equipment, or managing cash flow, the right funding can fuel your next level.
The opportunity is here. Your only limit is preparation.
