Business Loans

Where can I get an Instant Loan in Nigeria?

A loan is a type of financial aid that enables both individuals and corporations to meet their financial responsibilities. To ensure that the loan will be repaid, most lenders, however, frequently want some kind of security in the form of collateral before they provide the loan.

Not every person in Nigeria possesses the assets they can offer as collateral to obtain a loan. For this reason, unsecured loans are crucial. Thankfully, today’s quick online loan applications allow both business owners and individuals to submit them without having to pledge any assets as security.

One of the biggest issues with doing business in Nigeria is a lack of finance. With the new quick and simple online funding choices, lenders assess borrowers’ creditworthiness and ability to repay loans within a certain length of time before approving a loan amount.

In this article, we discussed the top 10 websites in Nigeria that provide rapid loans to Nigerian people and small businesses without collateral.


Small and Medium Enterprise (SME) financing and company loans are offered by GroFin across Africa and the Middle East. GroFin is your greatest short if you have investable figures and want to grow your company.

Businesses can obtain business loans from $100,000 to $1,500,000 with GroFin.


SMEDAN, a government-backed program that provides quick and simple business loans to Nigerian SME enterprises in need of funding, comes in last on the list. The organization’s primary goal is to encourage Nigerians to start their own businesses by offering funding.


In addition to money, SMEDAN offers assistance to business owners in the form of support and training.


An internet platform called Lidya gives companies access to financing. The platform provides unsecured loans to small and medium-sized businesses in the range of $500 and $15,000.

The founders claim that Lidya “assesses the risk before providing the loans using technology and algorithms, allowing them to offer financial goods to these consumers at a cheap cost.”


Aella Credit is developing systems that make it simpler for African citizens to acquire credit. The organization, which primarily specialized in employee financing and empowerment, was associated with Nigeria’s three major credit bureau companies to offer its clients quick, reasonable loans with no paperwork.

To assess a user’s creditworthiness, Aella Credit employs a unique credit score system. The algorithm evaluates a borrower’s eligibility for a loan by taking into account social and demographic aspects as well as their debt to income ratio. It was developed after the team gathered and analyzed market data for more than five years.


Consumer financing startup Zedvance is dedicated to giving people access to credit. In less than a day, you can borrow up to 3 million Naira.

However, if you are a salary person who also runs a side business, you can choose to take advantage of the offer to fund your business use. The organization specializes in lending to salary earners.


In order to aid people and small businesses in Nigeria with unforeseen costs or sudden cash demands, Paylater is a simple and fully online lending platform.


You can get a loan of up to 500,000 Naira using Paylater without putting up any security. Funds are normally sent within 1 to 3 business days after your application has been approved. You might be able to get a loan with a greater credit limit if you make on-time payments.


A digital money lender for Nigerian companies is called KiaKia. Millions of people and SMEs without credit histories can get direct and peer-to-peer personal and business loans from KiaKia thanks to its proprietary credit score and credit risk assessment system, which uses psychometry, big data, machine learning, and digital forensics.

The word “KiaKia” is a Nigerian abbreviation that signifies “Fast Fast.” They contend that the answer is not only quick and easy, but also extremely effective and efficient.


OneFi is a credit facility company that formerly went by the name One Credit and provides short-term consumer loans to borrowers with good credit who have little access to capital.

The normal One-Fi loan payback cycle lasts between three and six months, and loan amounts can reach N200,000 or more.

9. C24

The main purpose of C24 Limited, a microfinance organization, is to provide people with a way to take advantage of possibilities in their community by assisting them in getting financial loans when they need them.

C24 is aware of the demand for quick loans and the need for faster loan processing times. To help applicants escape the anxiety associated with other lending organizations, their online loan application process has been optimized.

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A contemporary lending platform for people and small enterprises is called QuickCheck. QuickCheck makes it possible for people and small enterprises to acquire financial financing through mobile technologies.

The platform claims that customers can quickly and easily obtain loans up to 30,000 Naira for either a 15- or 30-day term without putting up any security.


With the help of the online lending platform Specta, you may get up to $5 million in loans in only one transaction and within 5 minutes! No paperwork, no collateral, and no trips to any offices. You may handle urgent personal and professional demands anywhere, at any time, using Specta.

MySpecta, which offers personal loan services, and Specta4Business, which offers quick and convenient loans for corporations and company owners, are the two loan products offered by Specta.


To encourage business growth, FastCredit provides business loans to micro, small, and medium-sized businesses. For business owners who meet the requirements, the loans are secured by guarantors and have a maximum term of 6 months.

In addition to business loans, they also provide easy and quick “all-purpose” cash loans to staff members of corporations, such as those working for banks, TELCOs, insurance companies, other financial institutions, FMCG companies, pharmaceutical companies, aviation companies, and oil and gas companies, to help them urgently meet customer demands.

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