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Loan companies in Ghana – What you should know

August 18, 2023 by hakeem

Insufficient cash flow typically makes people seek funds wherever they can. Because of this, many people would prefer to get a loan from family and friends or peer-to-peer lending. However, not everyone gets the sufficient funds they need at some point. And this is where the relevance of loan companies cannot be overstated. This is because they have a track record of providing different forms of loans for people’s unique needs.

As you read along you’ll learn more about loan companies in Ghana, who they are and so on.

image asking if you need a loan

What is a loan company?

A loan company is a financial institution that provides finance or cash flow for individuals or companies as loans. These loans could be personal, business, mobile money, travel loans and other loan types. And these financial institutions and the borrowers agree that these loans will be repaid with interest after a period. However, the agreement usually depends on the terms and conditions of the loans.

The nature of loan companies is alike, but their business activities are entirely different from each other. Besides that, their funding requirements vary significantly.

What are the loan companies in Ghana

Loan companies grant loan requests of individuals and businesses. Their relevance in Ghana cannot be overstated. Ultimately, from ensuring that individuals and businesses do not lack cash flow.

The following are the loan companies in Ghana:

Loan CompanyAddressPhone NumberEmailWebsite
1ABii National Savings and Loans LtdPriority House, Avenor Junction (Near Joy FM), P. O. Box CT10067 , Cantonments , Accra233-302-241050,
233-302-241050
info@abiinational.nethttp://www.abiinational.net
2Adehyeman Savings and Loans Company LtdNo:C1/7, Faanofa Street, Kokomlemle, (Near Avenor Traffic Light), P.O. Box GP 13249, Accra-Ghana233-302-252071,
233 302-289670, 
233-302-208142,
233-302-244075
info@adehyeman.comhttp://www.adehyeman.com
3Advans Ghana Savings and Loans LtdGround floor Oxford Cinema building (Accra New Town), P. O. Box AN 11426, Accra – North233-307 084522http://www.advansghana.com
4Asa Savings and Loans Company LimitedOdokor- Mallam Highway, P. O. Box MP 1834, Mamprobi Accra233-302-328405, 
233-545304767
info@asasavingsandloans.comhttp://www.asasavingandloans.com
5Assurance Savings and Loans Ltd1st Floor, Gina Villa, Achimota School, GIMPA Road, P.O. Box KIA 16192, Accra233-302 433931,
233-303977340, 233-208178048
info@assurancesavingsandloans.comhttp://www.assurancesavingsandloans.com
6Bayport Savings and Loans Plc71 Osu Badu Street, Airport West, Accra, PMB 248, Accra North233-302-745454,
233-302-910778,
Toll free : +233-800-10016 (Vodafone only)
http://www.bayportghana.com
7Best Point Savings and Loans LtdOld Peace Fm Building, Mile 7, P. O. Box ct 10191, Cantonments, Accra.233-303 932990 – 4info@bestpointgh.comhttp://www.bestpointgh.com
8Bond Savings and Loans LtdBond House, Meridian Road, P.O Box CO PMB 95, Tema233-303-214444,
233-544314705, 
233-303-304332
info@bond.com.ghhttp://www.bond.com.gh
9Direct Savings and Loans LimitedNo. 42A, Asofoanye A. Opeku Avenue, North Dzorwulu, off the Fiesta Royal Hotel and GIMPA Road, P.O. Box CT 8360, Cantonments, Accra233-303-969550,
233-303-969555
info@directgh.comhttp://www.directgh.com
10Equity Savings and Loans Ltd.No. 16 Maseru Avenue, East Legon, P.O. Box CT 6382, Cantonments, Accra233-302-541449, 
233-302-541452, 
233-302-544528
http://www.equitygh.com
11Golden Link Savings & Loans Ltd2 North Street, Tesano, P.O. Box 14117, Accra233-302-223826, 233-302-223833, 
233-302-223951
info@goldenlinkghana.comhttp://www.goldenlinkghana.com
12Golden Pride Savings and Loans LtdHouse No. B3/131, Samora Machel Rd., Asylum Down, Accra, P.O. Box TU 66, Accra233-032 286050info@goldenpride.com.ghhttp://www.goldenpride.com.gh
13Izwe Savings and Loans PLCMaestro Plaza, Kotobabi High Street, Private Mail Bag GP 158, Accra233- 302 251042info@izweghana.comhttp://www.izweghana.com
14Jins Savings and Loans Ltd.53 Owoo Street, West Legon, Accra, P.O. Box 4566, Dome Kwabenya, Accra233-302 419422,
233-302 419424
info@jinssavingsandloans.comhttp://www.jinssavingsandloans.com
15Letshego Savings and Loans Plc4th Floor Cocoshe House, Off Augusto Neto Road, Airport City, P.O. Box AN 7128, Adabraka , Accra233-302-208340,
233-302-208342, 
233-302-208333
info@afb.com.ghhttp://www.afb.com.gh
16Multi Credit Savings & Loans Co. Ltd.Trust House, Bantama High Street, P.O. Box 1920, Kumasi – Ashanti233-322-37418,
233-322- 37419
info@mcslghana.comhttp://www.mcslghana.com
17Opportunity International Savings and Loans Co. LtdNo: D765/3, Kwame Nkrumah Avenue, P. O. Box JT 323, James Town, Accra233-302 610000,
233-302 676661
info@opportunityghana.comhttp://www.opportunityghana.com
18Pacific Savings & Loans Co. Ltd.Plot Q.T.B, Adum, P.O. Box KS 1922, Kumasi – Ashanti233 -3220-41051, 233-3220-41050, 
233-3220-41054
http://www.pacificsavingsandloansgh.com
19Pan – African Savings and Loans Company LimitedNo. 19 Mayor Road, Ridge West, PMB CT 127, Cantonments, Accra
233-302-782751/7
info@panafricansl.comhttp://www.panafricansl.com
20Progress Savings and Loans LimitedNo. 7 Nii Yemoh Avenue OIC Road 3rd Floor Zion House, Shiashie, East Legon, Accra, P. O. Box ST 237, Accra233-302 514000,
233-302 509013,
233-501 523473
info@progessghana.comhttp://www.progressghana.com
21Services Integrity Savings and Loans Ltd.Block 1, Labadi VillasBusiness Centre, Giffard Road, Burma Camp, Accra, PMB Burma Camp Post Office, Accra233-544-322102
22SIC Life Savings and Loans Ltd.Section 28, Block 15, Tudu, Accra, P. O. Box KN 4768 Kaneshie Accra, Adabraka – Accra233-577 737826,
233-556 590241
enquiries@siclifesl.com.ghhttp://www.siclifesl.com.gh
23Sinapi Aba Savings and Loans Company Ltd22A Ellis Avenue, P. O. Box 4911, Nhyiaso, Kumasi233-302-2030112infodesk@sinapiaba.comhttp://www.sinapiaba.com
24The Seed Funds Savings and Loans LtdSeed Funds Savings and Loans Ltd, Plot 32, Sixth Circular Road, P.O. Box CT 11172, Cantonments – Accra233-561 111997,
233-561 111998
info@theseedfunds.comhttp://www.theseedfunds.com
25Utrak Savings and Loans LtdAdum Kumasi, P. O. Box UP 1011, Kumasi233-302 255476urak2000@yahoo.com

Do loan companies check my bank account?

Most times loan companies can check your bank account. They will check your credit score or your credit history. They do this to know your financial behaviour for some time. Besides that, it helps them know whether it’d be cool for them to give you the loan you need. This is because no lender would give a loan to a borrower who doesn’t have a way to repay the loan. 

Therefore, lenders typically look at your bank statements before they issue you a loan. This is because the statements summarize and verify your income. Besides that, your bank statement also shows your lender how much money comes into your account. And also, of course, how much money is taken out of your account.

How to get instant loans in Ghana

Having little or no money to meet your pressing needs is definitely one of the worst situations you may find yourself in. However, you may quick loan options available in Ghana. Here is how to obtain an instant loan in Ghana:

  1. Download and install the app.
  2. Sign-up to open an account or login if you are already signed-up
  3. Follow the prompts.
  4. After a successful evaluation, you will be granted your loan request.

What are the basic functions of loan companies?

Loan companies surely play significant roles in the financial market. But there are basic functions they perform.

The following are the basic functions of loan companies:

  1. Offer unsecured loans (loans without collateral)
  1. They offer secured loans
  1. Lend to purchase products
  1. They offer business loans.

Conclusion

Loans have saved individuals and businesses in so many ways. Individuals who encounter unforeseen circumstances go for emergency loans. Whereas business owners go for start-up or business in order to establish or grow their existing businesses, respectively.

However, what matters most is your compliance to the agreements of the loans. Generally prompt repayments of loans by borrowers earns them higher chances of qualifying for a loan in the future. Besides that, it ensures you don’t get blacklisted for not repaying your loans. Moreso, it reduces hard credit checks on your credit history from credit bureaus.

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