Masloc loans – Everything you need to know

In recent times, the government of Ghana has made loans available through many programmes to ease poverty. Therefore, Masloc loans is a microfinance loan programme for start-ups and small businesses. They modestly established it to finance the poor in the various sectors of Ghanaian economy. Essentially, this Masloc loan is targeted at reducing poverty and creating employment and wealth.

masloc loans ghana review

About the company

MASLOC stands for microfinance and small loans centre. A top microfinance body in Ghana that implements government microfinance programmes aimed at reducing poverty. Their goal is to provide entrepreneurs with micro- and small-scale loans. 

They specialize in quick, easy, and accessible micro-loans. This leads to increased employment and wealth generation. So many have benefited from this programme and people are still benefiting.

What is the work of Masloc in Ghana

Masloc is a microfinance bank programme for the less privileged known for several things, such as:

  1. Implementing the government of Ghana’s microfinance program to reduce poverty
  2. A provider of small and micro loans for start-ups and small businesses
  3. Provides easy loans.
  4. Enhances job creation and wealth creation through small business growth.

Masloc loan interest rate

The interest rate applicable to Masloc loans is 1% per month for all loans. However, one thing is certain, which is the fact that they would state the interest rate for each type of loan and the duration. 

Masloc loan requirements

With Masloc, each loan had its minimum requirements. However, most of each loan product includes the compulsory qualification that the borrower must use the money to fund or scale a small business to enhance economic growth.

Masloc loan products

Masloc loan scheme helps in business growth and property alleviation. Their loan products remain the programme’s major selling point. Therefore, the loan services they provide include:

  1. Group/micro loans
  2. Car loans
  3. Small loans
  4. On-lending loans

Masloc group/micro loans

Micro-credit schemes focus on groups/cooperative societies, whose members are typically between five and twenty-five. The maximum limit for an individual within a group is GHC 1000. This credit scheme uses the group-sharing principle. The entire group is liable for repaying the loan.

Note: No MASLOC loans exceed 12 (twelve) months in terms of repayment and interest. 

Basic application requirements

  1. Application Letter
  2. 2 Passport photograph from each individual in the same group
  3. National ID card
  4. Business registration Documents
  5. Business plan

Masloc car loans

The Microfinance and Small Loans Centre (MASLOC) offers saloon vehicles to unemployed persons looking for work under its vehicle hire purchase program.

Through the scheme, individual taxi drivers, especially the young, who belong to taxi and drivers’ unions, will own their vehicles after paying the loan facility within four years.

Basic application requirement

  1. Application Letter
  2. 2 Passport photograph
  3. National ID card

Masloc small loans

Individuals can apply for a minimum loan of GHC1,000 and a maximum loan of GHC10,000. They require a loan beneficiary to provide adequate security. In addition, a guarantor who can redeem the loan will be provided too.

Application requirement

  1. Application Letter
  2. 2 Passport photograph
  3. National ID card
  4. Business registration Document
  5. Investment plan
  6. Management Account with Two (2) years financial statement
  7. Document of land ownership
  8. Resolution letter from the Board of Directors

Requirement for Guarantor:

  1. Three (3) guarantors
  2. One (1) passport picture
  3. Photocopy of national ID
  4. Three (3) months’ pay slip

Masloc on-lending loan

Microfinance Institutions (MFIs), Departments and Agencies (MDAs) and rural banks can get loans for business expansion. Here, all MASLOC loans have a limited term of only 12 (twelve) months.

Application requirement

  1. Application Letter
  2. 2 Passport pictures
  3. Photocopy of any National ID card
  4. Company and Management Profile
  5. All business registration Documents
  6. 12 months bank statement of business
  7. Business plan
  8. Financial Statement (2 years)
  9. List of Assets
  10. Document of land ownership or rental agreement document
  11. Collateral
  12. Copy of operational manual

Requirement for Guarantor:

  1. Five (5) guarantors (Where applicable)
  2. One (1) passport picture and photocopy of national ID each
  3. 6 months bank statement

Masloc loan application

Application for Masloc loans is straightforward. You can apply through their website or by visiting their office. Follow the steps below: 

  1. At any Masloc office near you, submit a properly filled-out application form. State the loan amount and the purpose of the loan.
  2. One of the loan officers will invite you for a preliminary assessment. They will reveal all other information you need to know about the loan to you.
  3. lf you qualify for the loan, they will process your application
  4. As soon as they approve your application, you receive your loan quickly.

Masloc loan calculator

This is the online tool used in calculating and checking the interest rate and the amount due for each type of loan. It is very easy to use. We advise that rather than complain that you don’t know the amount due for each loan, use the online loan calculator and find out all you need to know.

Masloc loan office

For further enquiries, kindly contact the call centre on the following numbers: 

Telephone: +233-302-782527 or +233-302-782528 or +233-302-782643

Head Office: 29 Third Circular Road, Cantonments.

Postal Address: Private Mail Bag 261

Fax: +233-302-782532



As one of the microfinance lenders in Ghana, Masloc loans are relatively easy to get as long as you qualify. Their loan services are available mainly at business levels, providing just what you need. It is a scheme mainly to ease poverty, create employment and help startups scale up their businesses.