Requirements Check

Simple qualifications, transparent standards

We don't require land titles or complex collateral portfolios. Review the guidelines below to confirm what document checklist fits your current occupation.

General Eligibility

Could you qualify? Most people in Northern Ghana can.

To apply for any loan with Palace Micro Credit, you must meet the following basic guidelines:

  • Be at least 18 years old
  • Be a Ghanaian citizen or legal resident
  • Have a valid Ghana Card (national ID)
  • Have a verifiable source of income (trade, farm, or employment)
  • Live or operate within Northern Ghana (Upper East, Upper West, Northern, North East, or Savannah)
  • Have one or two guarantors (depending on the product size)

What We Do NOT Require:

  • ✓

    No Bank Account Required

    We disburse via Mobile Money (MTN, Telecel, Airtel) or cash directly at our branch.

  • ✓

    No Long Credit History Needed

    First-time borrowers are welcome. We evaluate character and community references.

  • ✓

    No Land/Vehicle Collateral

    For standard loans under GHS 30,000, we do not lock up your land titles or deeds.

  • ✓

    No Formally Registered Business

    Market women, cooperative weavers, and rural farmers are fully welcome.

Interactive Checker

Select your category to see requirements

3.5% Interest / month

Business Loan Guidelines

Short-term working capital for established small businesses.

Min Limit:GHS 1,000
Max Limit:GHS 50,000
Tenure Period:3 – 12 months
Apply For This Loan

Document Checklist

Please gather and bring the following original documents to our Bolgatanga office (or prepare scan uploads) to expedite same-day credit appraisal:

  • Item 1

    Business operational for at least 6 months

  • Item 2

    Valid Ghana Card

  • Item 3

    Two passport photographs

  • Item 4

    Proof of business (registration, market ticket, or shop lease)

  • Item 5

    Two guarantors

Important Guarantor Notice: Guarantors must be residents of Northern Ghana (Upper East, Upper West, Northern Region, etc.), possess a valid Ghana Card, and have a verifiable livelihood (civil servant, trader, or farmer).