The Best Business Loans in Ivory Coast

Compare the best options on the market and choose the one which best adapts to your day to day needs.

Further Below: Our Guide To Business Loans in Ivory Coast, Everything you need to know.

BGIF bank Ivory Coast

  • Amounts of up to 10,000,000 FCFA
  • Interest rates of 6%
  • Repayment period of 12 months
  •  Promissory note
  • ADI (Death and Disability Insurance)
  • Progressive security deposit of 15% of the requested amount
  • Online banking available
  • Smooth application process 

UBA bank Ivory Coast

  • Maximum amount of 18,750,000 FCFA
  • Tenor up to 36 months
  • Interest rate of up to 11%
  • Fixed rates throughout the loan period
  • Fast application process
  • Disbursed within 48 hours
  • No early repayment charges
  • Fast payout 

GT bank Ivory Coast

  • Consumer loan up to 15,000,000 FCFA
  • Repayment period of over 5 years
  • Interest rates of 10%
  • No hidden charges
  • Refinance options available
  • Quick application process
  • Mobile banking available
  • Fast concessions

Business Loans in Ivory Coast, All You Need To Know:

Know everything essential to be aware of Ivory Coast business loans, including the variables that influence them and the best way to choose an offer. We outline the various business credit systems for you so you can choose the one that works best for you. Take a quick read on business loans. 

[UPDATE] What economic measures has the Government implemented for companies through covid-19?

The Ivory Coast government intervened with steps to protect companies and businesses from the Covid-19 outbreak as soon as it started. The government unveiled its tax reform initiatives in March 2020 and passed certain legislation related to the Anti-Crisis Shield.

Below are the measures taken by the government to shield businesses and companies through the pandemic:

  • All government industrial rental fees were exempted for three months with no cumulative charges.
  • The Ivory Coast bank loan capital was increased to support credit issues and enhance liquidity and financial solvency. The government also extended the repayment periods on existing creditors due to the intensive money supply in the economy.
  • The government chipped in to support individuals and companies by offering a stimulus package for economic boosting which amounted to $ 11.4 million. This helped in the reduction of interest rates charged on loans, restructuring of loan terms and conditions, and offering grants and reliefs to companies.
  • Private sectors were supported to ensure their going concern target is not closed up. All insured employees from the private sector were paid from the unemployment fund starting from April 2020. 
  • To aid in the economy’s and businesses’ recovery from the pandemic, the government unveiled the Recovery Plan. It also started a program to help businesses that were seriously harmed by the outbreak. The program would assist businesses and entrepreneurs in reorganizing their business processes.
  • The government rose to the occasion and placed price margins (for basic commodities) within which companies were required to operate. 
  • The government issued subsidies that catered to food, education, water, and electricity bills. This made it easier to meet daily expenses and basic needs.

Distinguishing types of company profiles

In Ivory Coast, there are various types of business loans, each with a distinct function. The sort of financing that your company is eligible for depends on several variables, including its profile, which establishes its solvency. Each company has unique traits that set it apart from the competition. The numerous types of businesses Ivory Coast offers are shown below.


  1. Entrepreneurs: This is a brand-new category of enterprise. The business person spends time analyzing a situation and locating a market gap that he can fill. He then proceeds to make business plans while considering the dangers and the potential rewards.
  1. Start-ups: This puts business owners one step ahead. The company is well established and is just getting started. Numerous losses, fewer revenues, and uncertain operations define the company. As a result, they are given loans to help them grow till they reach stability.
  1. Consolidated companies: These are companies that are solvent and have improved operational stability. Due to their established operations, these companies have made progress and now generate more profits than losses. They are eligible for substantial loans.
  1. Large companies: these are businesses with a big market reach. They sell both nationally and internationally and have a turnover of millions of Euros. They are companies like SIFKA, Abidjan, and Miam Miaam.


  • As legal entities: These people are professionals asking for funding for their firm. Their level of income determines the type of loan they are eligible for. They are eligible for a loan designed for one person.
  • As natural persons: These are persons who are employed but not in the traditional sense. The amount of money they are eligible for depends on their income. In this instance, they receive personal loans to fund their initiatives.

Characteristics of business loans

A business loan is intended to aid us and advance the company while rescuing us from unforeseen financial situations. It does, however, require a solid grasp of the elements that make up such a loan. The type of loan, the characteristics of our business, and our negotiating strength are some of the key factors that affect our ability to obtain funding.

What makes a good business loan?

  • Cost. When looking for finance for your company, this is what you should focus on primarily. You desire a low-cost loan that enables you to better manage your finances and streamlines the repayment procedure. Loans in Ivory Coast vary in cost.
  • Amount.The company’s profile and ability to repay it will influence this. Therefore, you should choose a sum that is appropriate for the potential expansion of your company.
  • Grace period. This refers to a period (in the loan’s initial stages) where the borrower goes without repaying the loan without attracting any penalties. This period is most beneficial when we expect that the money from the financing will bring us benefits at a certain time.
  • Purpose. You might be looking for financial liquidity, expanding your business, working capital, making further investments, importing raw materials, or paying your suppliers.
  • Linkage. Especially in banks, financing always comes with related products such as insurance, business accounts, or other products of mandatory recruitment.
  • Guarantee. This comes in when the lender requires “payment insurance” with a guarantee or collateral, based on our company profile and the size of the loan we are taking out.
  • Speed. This refers to the time the entity takes before releasing the funds to our accounts. While some take a few days, other entities may take weeks or months.
  • Repayment. This refers to the method through which we are required to repay the loan. You might be required to make monthly installments or repay the whole amount at the end of the loan term.

Where to get business loans

As the Ivory Coast’s financial institutions develop, technological advances produce goods that are specifically designed to make borrowing easier. The Ivory Coast lenders listed below are those we can contact in case we have any type of financial need.

  1. Banks: In the lending sector, they hold the lion’s share. They are renowned for providing sizable loans to businesses with a high degree of solvency. But they’ve just started offering SMEs financial options.
  1. Companies and private capital lenders: They are also among the best lending platforms in Ivory Coast. Because they handle their financing through online channels, they are quicker and more convenient than banks. Their goods compete with and frequently outperform those of banks.
  1. Alternative financing platforms for crowdlending: These are online channels that enable the meeting of a borrower and a private investor. The investor has access to our company profile and can choose whether or not to invest in our enterprise. These loans are quickly processed, and by the second day following the application, you will know if you are approved for the loan or not.

Your reason for going for one lender over another is influenced by many factors. You, therefore, want to make a serious financial audit before committing to an offer.

Business loan conditions

The following are the most common conditions that every business looking for financing in Ivory Coast has to meet. 

  • National registration: There are several hazards involved in loaning money. Since it could be challenging to follow up on repayment, a lender will steer clear of taking the chance of lending to a business without national registration. Additionally, rules controlling loans might not apply to such a corporation.
  • Annual income: Before disbursing the monies, the lender will review your financial records. This is significant since it demonstrates your financial strength and the viability of your business. Lenders occasionally want financial information from prior years as well.
  • The seniority of the company: The kind or amount of loan you receive is significantly influenced by how stable your business is. As a result, an entity will want to know how long your business has been in operation. Make sure your business has been around for at least a year.
  • Credit history: your company needs to have a positive credit history to qualify for any financing. Lenders will reject your application if you appear in the company’s defaults list.

Please note that these conditions may be a little different for some entities. Some entities may provide financing to companies with a negative credit score, for instance.

Documents needed to get funding

To prove that you qualify for a certain credit, the company will require several supporting documents. Below are some of the most common documents:

  • VAT return from the previous year and the current year.
  • Income tax return.
  • Bank statement (if in another bank).
  • An updated balance sheet of the company’s turnover.
  • Proof of payment of Corporate Tax.

Likewise, entities’ requirements tend to vary at this stage. Moreover, the entity may ask you to send the documents via email, through an online platform, or a courier among others.

Other forms of financing for companies

  1. Business credit lines

These are non-traditional sources of funding, and they don’t operate like loans. In this instance, the lender provides us with a sum of money that we can withdraw as needed. We just pay back the money we’ve already withdrawn, rather than the whole amount we withdrew.

This serves as a reserve fund for times when we require funding but lack working capital.

  1. Factoring

This is intended for small businesses or independent contractors who want to pay off their supplier’s debts (s). The organization directly transfers the funds to the supplier, which we will then reimburse using either monthly payments or another manner.

  1. P2B or crowdlending loans

Investors can view our company’s demands on this internet platform and decide whether or not to invest in it. Depending on our project, company profile, and the platform we use, we can be eligible for large loans.

  1. Confirming

This relates to providers who want to collect orders before delivering them to protect their financial liquidity as opposed to factoring. The loan functions as an advance and is repaid once we get the orders.

  1. Loans with mortgage guarantee

These are credits that, in exchange for a guarantee in the form of real estate, grant funding. Due to the assessment value of the property serving as a guarantee, the entity will need time to determine the amount of money it lends us, which could cause the processing of these loans to take longer than the previous possibilities.

Products to invest in our company

  1. Equity crowdfunding

These are the online platforms that are revolutionizing the lending industry. They establish a connection between a business owner looking for financing and a private investor or expert. It’s crucial to remember that the investor will receive a portion of the company’s profits in exchange.

  1. Business Angels

These are businesses that prioritize funding major business initiatives. In contrast to equity crowdsourcing, business angel managers choose which companies to invest in. Keep in mind, nevertheless, that the investors will join our business.

  1. 3F (Friends, Family, Fools)

Business owners who fall into this group borrow money from acquaintances, relatives, or fools. Although the government does not regulate the terms of these loans, both parties agree to them and must abide by them.

Aid for the financing of companies

  1. Capitalization of unemployment

Only unemployed business owners can make this work. Such a borrower will gather all the employment advantages to which they are eligible to obtain financing.

  1. Crowdfunding

These platforms allow firms or business owners to connect with investors who want to fund their initiatives. The borrower can publish their projects on these platforms, and sponsors can choose the ones that interest them.

About this page, our methodology

What is this page for: Our goal is to help you find the optimal funding. That’s why we want to show you what personal guaranteed loans are, how to compare them, how to offer you the most cost-effective offers today, and how to choose the best one from the many offers available.

Source: Information on this page is provided by the Central Bank of West Africa (BCEAO) and other online portals.

Methodology: The data relating to the conditions of these products (amount, term, interest, etc.) have been obtained through online research and consultation of the official statistics of the aforementioned reference sources

About FUNDGECKO: We are an online platform that provides personal financial information to individuals. In addition, we provide information to help you find a reliable personal loan lender. Note: the services we offer are totally free for the user, as FUNDGECKO obtains its income from advertising and its featured products

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