FairMoney Microfinance Bank has introduced a new financing product that will enable eligible transporters and delivery merchants to acquire business-use vehicles through structured repayment plans.
According to the bank, these payment structures are explicitly tailored to match the daily and weekly cash-flow realities of running a mobility business in Nigeria.
The launch comes at a time of sustained growth for the local transport and logistics industry. Driven by an increasing demand for road freight, ride-hailing services, and intra-state commercial transportation, the sector recorded an estimated market growth of between 9.87 per cent and 10.1 per cent in late 2025.
Commenting on the financing, the Managing Director of FairMoney MFB, Henry Obiekea, said, “Our mission has always been to increase financial inclusion and create income opportunities by supporting individuals and small business operators in growing their businesses. With this solution, we are focused on supporting small business operators and mobility entrepreneurs who contribute significantly to transportation and commercial activity.
“The intra-state transportation sector in Nigeria is experiencing sustained demand and market activity, offering opportunities for mobility and transport operators. The Asset Financing Solution ensures that costs are spread into manageable instalments, thereby supporting small business operations and broader economic participation.”
To lower the barrier to entry, FairMoney is deploying its proprietary digital infrastructure to streamline what has traditionally been a rigorous process. The bank confirmed that the solution leverages its technology-enabled onboarding and risk assessment capabilities, allowing applicants to undergo a streamlined application and evaluation process subject to standard credit assessments.
Industry observers note that access to affordable financing has long been one of the steepest hurdles facing operators in Nigeria’s transport ecosystem. This is particularly true for informal sector players and Micro, Small and Medium Enterprises that frequently struggle to meet conventional banking requirements, such as collateral or extensive paperwork.
FairMoney intends to bridge this gap by integrating these informal sector operators into the formal financial system. By meeting verifiable repayment schedules, entrepreneurs will simultaneously be able to build a formal credit history, opening doors to wider financial opportunities in the future.
The move represents a major strategic pivot for FairMoney, marking its first significant expansion beyond personal and working capital loans into large-scale commercial asset financing. The bank noted that the initiative drastically strengthens its broader business banking suite for SMEs and merchants.
The programme has already been declared open to eligible applicants. Business owners can apply directly through the FairMoney Business digital platform or by visiting designated partner hubs located across major Nigerian cities.
Looking ahead, FairMoney stated that it would continue expanding its merchant lending and SME banking capabilities as part of an ongoing commitment to deepening digital financial service access for underserved business segments across the country.
