Moniepoint Since its launch in 2019, it has served over 10 million businesses and individuals with payments, banking, and credit services. It offers small businesses digital loans for business owners and is the best alternative to traditional bank lending. These microloans can help you to purchase inventory, manage cash flow, or expand your business. In this article we will explain how to qualify for a Moniepoint loan and how small business owners (especially first-time borrowers) can go about it.

What Is a Moniepoint Loan?

Moniepoint loans are business loans offered by Moniepoint Microfinance Bank (formerly TeamApt). They are working capital loans and are designed specifically for merchants and small businesses.

Moniepoint currently does not offer personal loans—all its credit products are for business owners.

The main feature of Moniepoint loans is that it uses your Moniepoint business account activity and sales data (from Moniepoint POS devices) to decide your credit limit.

This is different from a traditional bank: instead of relying mainly on collateral or lengthy financial statements, Moniepoint looks at how your business actually transacts. That means that if you accept payments on Moniepoint’s POS terminals (or use its app) and maintain regular sales, you can demonstrate a cash flow that Moniepoint will analyze for lending.

See Also: How to Borrow Money from OPay 2025

How to Qualify for a Moniepoint Loan

To qualify for a Moniepoint loan, you must meet the eligibility criteria below:

• You must have a Moniepoint business account. Moniepoint loans are only for business account holders. You must have an active Moniepoint business account (or Moniepoint POS machine) that you use for your business.
• Your Moniepoint account must be 6 weeks old. Generally, your Moniepoint account needs to be active for at least 6 weeks before you can get a loan.
• You must be 18 years or older with a valid identity number (BVN or NIN).
• You must have a valid CAC certificate and a business ledger that is active for at least six months.

Step-by-Step Guide on How to Qualify for a Moniepoint Loan

1. First, you need to download the Moniepoint Business Banking app or go to the Moniepoint website and register for a free business account. Fill out your personal/business information, BVN, and NIN for KYC, and complete your identity verification. Ensure all details are accurate and your identity is fully verified (this is an important step before you can get a loan).
2. After you have set up your account, use it for your daily business transactions. Deposit, do transfers, and receive customer payments on your Moniepoint account or POS. This is the key to building a transaction history. Consistent inflows (receipts from sales) and outflows (inventory purchases, bills) show Moniepoint that your business has steady cash flow. Do it for at least 6–8 weeks. This gives Moniepoint’s analytics system time to “learn” your business.
3. Make sure you meet the basic eligibility requirement mentioned above: you’re over 18, a Nigerian resident, and your BVN is linked. Maintain a good transaction record. Keep your app profile up to date (contact info, business address, etc.).
4. Check for your eligibility on your dashboard. Regularly log into the Moniepoint app or agent dashboard and look for a “Loans” or “Credit” section. Once your account has a few weeks of activity, Moniepoint’s system will automatically evaluate you. If you qualify, a loan offer will appear in your dashboard. You may also get a notification (SMS or email) when you become eligible.
5. Submit any additional info if asked. You may be asked to submit your CAC certificate or utility bill on the app.
6. Apply for the loan. When you see a loan offer in the app, open it and choose the loan amount and tenure that fit your needs.
7. Wait for approval (usually 1–3 days). Moniepoint can process your loans quickly within 24–72 hours. If approved, the funds will be disbursed directly to your Moniepoint business account, and you’ll receive notification.
8. Receive and manage the funds. Once the money is credited to you, you can use it for your business. Repay as agreed through automatic deduction or manual payment via the app.

By following these steps—opening a business account, staying active on it, and meeting Moniepoint’s criteria—you will be able to qualify for a loan. In essence, use the app regularly as if it were your company’s bank account, and Moniepoint will reward you with loan offers. Read more: How to Get a Loan from Moniepoint in 2025 (Moniepoint Loan Guides)

How Much Can You Borrow from Moniepoint?

Moniepoint does not have fixed loan amounts; instead, each loan amount is based on an individual business profile. First-time borrowers can get loan amounts up to ₦50,000–₦100,000 as their initial loan offer.

After successfully repaying that, your loan limit can increase. In fact, Moniepoint itself says the maximum amount depends on your business type and creditworthiness, and this is assessed during the application.

But returning merchants can qualify for loans up to ₦1,000,000 or more without collateral.

Moniepoint loans are short-term, with tenures ranging from about 12 to 24 weeks (roughly 3–6 months) depending on the loan products. You repay it in installments (daily or weekly). Interest rates are also set case-by-case. Moniepoint does not list flat rates on its site, but our research shows annual rates in the 20–40% range (equivalent to roughly 2–4% per month).

See Also: Top 10 Loan App That Gives ₦50,000 Instantly in Nigeria (2025 Reviews)

Conclusion

Qualifying for a Moniepoint loan comes down to two things: setting up your business account properly and maintaining a good transaction history. You must open and verify your Moniepoint business account and keep it active.

By following the above steps, you can get a quick loan from the Moniepoint platform.