Is there a Loan facility for the Unemployed in Ghana?

Loan Facility For The Unemployed In Ghana

Unemployment is one of the major problems in Ghana. There are thousands of people who want to work but they found it difficult to get a job. In this guide, we explain how unemployed people can have access to loan in Ghana.

Loan Facility For The Unemployed In Ghana

Fresh graduates, young adults including old people are suffering due to their inability to found jobs. Unemployment has left many to breakdown and had caused many to live a life far from fulfillment.

Unemployment has led many to get involved in social vices and doing things not necessary, many have turned to internet fraudsters, armed robbery, and have involved in evil practices.

However, if you are a victim of unemployment, do not feel embarrassed or bad. Here in Ghana, there are some financial institutions that are giving out microloans to the unemployed to start their own business and gives them the privilege to pay back after a certain period of time.

A Loan is financial assistance (from any financial or non-financial institution) rendered to an individual with financial limitations to cover some certain things (such as starting a business or buying a car or house) and paying back the money with interest after an agreed period of time.

Applying for a loan can be a great way to fight against unemployment.



No matter the amount of money you loan from the bank, you are definitely going to pay interest.  Long term loans paid over a longer period of time usually comes with higher interest rate.

You have to make research on how bank charges their interest on loan, different financial institutions do not have the same interest rates.


Before the bank could think of loaning out money, they will request for collateral. Collateral serves as something you guaranteed when you failed to pay back as at when due. Collateral could include land, car, Jewelry, etc. Inabilities to pay back the money on time may lead to banks seizing your property.


Financial institutions do requests for some paper works such as the date of birth, proof of employment, bank statement, residential address, and other vital documents.



GCB Bank Ghana offers a fast loan with flexible payback. GCB bank loans are easy to apply and requests are quickly attended to. The interest rate is affordable and the payback time ranges from 6 to 36 months depending on the amount borrowed.


  1. Applicants must be in between 21 – 60 years of age
  2. Applicants must be a Ghanaian citizen or legal resident in Ghana (expatriate)
  3. Applicants must possess proof of address- utility bill less than three months old
  4. Applicants must possess any proofs of identification such as passport, driver’s license, Voter’s card, etc.

Visit GCB bank’s website for more information


Stanbic bank loan is easy and affordable for anyone who wants to loan money. The loan is flexible and the interest rate is not much. Applicants are given the privilege to borrow up to GHS 200, 000 with a payback up to 12 months. (However, the payback time can be more than that depending on the amount borrowed).


  1. Applicant must possess any proofs of identification such as passport, driver’s license, Voter’s card etc.
  2. Applicant must be a Ghanaian citizen or legal resident in Ghana (expatriate)
  3. Applicant must possess proof of address- utility bill less than three months old

Visit Stanbic bank’s website for more information


IZWE loans Ghana is one of the most reliable institutions that provide loans for anyone who wants to apply with an affordable interest rate. Their loan processing is very quick and fast.  An applicant can borrow up to GHS 150, 000 with flexible repayment up to 48 months.

Visit  Fidelity bank’s website for more information.


First bank is also one of the most trusted financial institutions that offer loans to people in Ghana. Applicant must be 18 years and above and required to have an account with First bank and for those that don’t have must bring with them 6 months bank’s statement from any other commercial bank.

You can visit First bank for more information.


Fido money lending limited is a well-known financial institution in Ghana. The good part of Fido is they do not require any paperwork for verification, instead, they only require proofs of identification such as driver’s license, voter’s card, Ghana passport, etc.

Applicants age must be 18 years or above and must be a resident of Ghana. Fido Money Lending Limited is licensed by Bank of Ghana which makes them certified and legible in the country. Applicant’s requests are quickly responded to and their interest rate is reasonable.

Visit Fido microfinance bank’s website for more information.  


Fast-track microfinance banks have been pulling many people out of poverty. Their services are to support individuals to rise above poverty levels. Their interest rate is easy and affordable. The applicant must be a resident in Ghana and as well have proof of identification before applying.

Visit a fast-track microfinance bank’s website for more information. 

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