Best Loan Apps And Websites In Nigeria

Best Loan Apps And Websites In Nigeria

Getting a risk free loan in Nigeria is very hard especially when the loan comes without collateral. I am going to show you where you can get loans without collateral in Nigeria and you will even see the best apps and websites to get instant loans.

Getting quick loans without collateral in Nigeria can be cumbersome because most creditors request for collateral before giving out loans. Perhaps, you cannot produce a form of collateral to get a loan. Luckily for you, there are online loan companies that lend you money without collateral.


A loan refers to a financial asset that is disbursed to people with the clause of paying back the money on a later date. Loans have been used to provide people with money to fund any project.

The inability to get funding to start up a business is one of the challenges faced by entrepreneurs and small business owners in Nigeria. Some entrepreneurs have quizzed themselves ‘how can I get a business loan in Nigeria without collateral’.

Certainly, there are loan companies in Nigeria that provide loans without capital. You do not necessarily need to put your assets on the line as a form of loan collateral.

In this article, we will take a look at the best online loan sites in Nigeria to get loans without collateral.

Quick Loans In Nigeria

We all have a point in our lives where we need money to solve a particular problem or need. You are broke, you don’t have a dime in your bank account and you need money desperately now. In this type of situation, you’ll be frantically looking for how to get a loan quickly.

Even if you have assets to use as collateral, you will not be willing to use your car, building or house as a form of collateral.


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Collateral serves as security in the hands of loan providers, who want to need a guarantee to be on a safer side. Fortunately enough, there are loan facilities that provide you with unsecured loan Nigeria.

You can use any of these online platforms to get instant loans to solve a problem or need. There is a significant rate of progress in the Nigerian Fintech industry as some loan organizations in Nigeria have made it possible for anyone to get loans in Nigeria without collateral.

Sounds cool! It is equally important that you know these are platforms that lend money on short-term loans. If you are looking for large capital to startup a business, you may need to visit banks to get a business loan.

Where To Fast Loans Instantly In Nigeria

Where can I get a fast loan in Nigeria? In no hierarchical order, here is a list of the best loan companies in Nigeria that offers loans to individuals and small business without collateral in Nigeria.


Fast credit Is one of the places to get an unsecured loan in Nigeria. They provide support for Micro, Small and Medium Enterprises (MSMEs) to develop. You don’t need to have a collateral to get a loan from Fast Credit but you need a guarantor.

Fast Credit loans are backed up by guarantors and the loans are disbursed for a maximum tenor of 6 months.

Apart from giving business loans to people, they offer easy and quick ‘all-purpose’ cash loans to the employees of corporates firms and institutions like bank employees, Aviation, FMCGs, Pharmaceuticals, TELCOs, Insurance & other financial institutions, Oil and Gasworks, etc to help them meet up with their consumer needs.


Specta is an online loan company in Nigeria that claims to give loans of up to ₦5 Million in a single transaction all within the space of 5 minutes! Specta has two loan facilities namely;

  • MySpecta (which provides individual loan services).
  • Specta4Business (which provides quick and instant loans for corporations and business owners).

With Specta, you are assured of getting a fast loan in Nigeria. Remarkably, you do not need to visit any office or spend time doing paperwork. You are provided with instant loan services to take care of your urgent personal and business needs.

3. C24 LOAN

C24 Limited is a microfinance institution in Lagos, Nigeria that was formed to offer cash loans to people in need of it. C24 is a platform where people can go to support their financial goals and actualize the opportunities around them.

This online loan company provides retail loans for people who are urgently looking for quick financial solutions. The minimum loan amount you can get is ₦40,000 and the maximum limit for a new user is ₦750,000.

On the other hand, existing customers can get up to ₦1,000,000. If you are in desperate need of money for immediate use, you can consider going for the C24 Loan. The company assures clients of getting access to instant cash loans.

Their platform has been optimized to help people get quick loans in Nigeria without stress.


The name ‘KIAKIA’ is obtained from a Nigerian slang which means “Fast Fast” or “Quick Quick”. KiaKia Loan is an online loan company that provides financial support for Nigerian businesses.

The company uses machine learning, psychometry, big-data and digital forensics for its proprietary credit risk assessment and credit scoring algorithm. This is made to give direct and peered personal & business loans to millions of people and SMEs without credit information.

KiaKia is a simple and fast way of getting a loan in Nigeria without collateral. They have a mobile app that provides you with quick access to loans in Nigeria.


Aella Credit is a lending platform that provides quick loans for anyone in Nigeria, Ghana, and the Phillippines. They have made it easier for individuals and small businesses in Africa to gain access to financing.

The company is primarily focused on employee lending and empowerment. This loan organization is designed to offer loans within ₦1,500 to ₦700,000 with interest rates ranging from 4% to 29% every month.

They have partnered with three main credit bureau agencies in Nigeria to offer easy and instant loans to people. No paperwork is needed to get the Aella Credit loan. Aella Credit utilizes a proprietary credit scoring algorithm to find out the creditworthiness of its customers.

The credit scoring algorithm was designed by an experienced team that has gathered over five years of market analysis and data. The algorithm processes your loan eligibility by considering the social and demographic factors along with your debt-to-income ratio.


QuickCheck is an online lending platform in Nigeria that provides credit facilities for individuals and small businesses. The company uses mobile technology to offer loans to small businesses and individuals looking to get access to financial credit.

According to the QuickCheck, anyone can get quick loans of up to can access quick loans of up to ₦30,000 without any form of collateral. The loan is given for a period of 15 or 30 days. The QuickCheck loan can be obtained via the mobile app on the Google Playstore.


GROFIN is another place you can go to acquire a business loan without collateral in Nigeria. The company provides business loans to SMEs across the Middle East and the African continent for them to grow their businesses.

They provide unsecured loans of between $500 and $15,000 which is roughly ₦180,000 and ₦10,800,000 in the Nigerian currency denomination. If you are looking to get financial assets to expand your business enterprise, you should certainly consider applying for the GROFIN loan.


SMEDAN is a government-sponsored programmed made to offer quick business loans to Nigerians. They have provided financial support to Small and Medium Enterprises in Nigeria.

Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) is funded by the Federal Government of Nigeria. The sole objective of this loan program is to promote the spirit of entrepreneurship in Nigerians by giving them access to capital to start their business.

The SMEDAN loan is an unsecured loan that can be obtained without collateral. Apart from giving business loans to Nigerians, SMEDAN offers business owners with support, tutorship and hands-on training for them to run their business effectively.


Branch is an online platform that provides finance for anyone looking for where to get instant loans in Nigeria. The company utilizes a technology based on a credit scoring algorithm that accesses the risk before providing loans to people. They provide SMEs unsecured loans of up to $500 in minutes.

The Branch loan is a great way to get funding for your business idea. Also, Branch provides loans without collateral.


Zedvance Ltd is a consumer finance company that provides credit facilities to individuals at a highly competitive rate.

Typically, Zedvance loans are obtained within 24 hours. Zedvance Limited provides quick loans of up to ₦3,000,000; they offer finance for salary earners and employees with a side business and are looking for funding to start up a business.

The interest rates are based on the level of risk involved, together with how well you can bargain in your loan application. Typically, the Zedvance interest rate stands between 4.0% to 4.5. Also, the loan amount largely depends on your net pay.

11. ONE-FI is an online lending platform in Nigeria that offers short term loans to people. They were formerly known as One Credit.

The company has a reputation for providing financial instruments for credit-worthy individuals and small businesses that are not able to get funding for their businesses. Typically, the One-Fi loan repayment cycle is within 3 – 6 months and they offer loan amount up to ₦200,000.


Paylater is one of the quickest ways to get a loan in Nigeria. This online lending platform provides short term loans to people and it remains a great place to get loans without collateral. If you need quick cash to spend, you can access a loan of up to ₦500,000 on the Paylater App.

The Paylater loan amount ranges from ₦500,000 to ₦1,000,000; depending on the need of the loanee. The company has provided financial support to small businesses and individuals by providing them with loans and credit facilities.

Your loan application is accepted or rejected based on the risk involved and the cash activities via your Bank Verification Number (BVN). When your application is approved, you will receive your money within three business days.

They Paylater loan interest rates are not fixed, they typically range from 5% to 12%. Repaying your loans on time allows you to get access to higher amounts in your next loan application. You can download the Paylater App to get access to quick and flexible loans without collateral.

13. Renmoney

Renmoney is one of the fintech companies in Nigeria that provides fast loans without collateral. At RenMoney, people can borrow money to start and grow their businesses. The company provides loans up to ₦4 million at an interest rate of 4% to 4.5% monthly.

Anyone can apply to get loans from Renmoney and payback within a duration of 3 to 9 months. The company allows you to get loans without collateral or fielding a guarantor. However, there are certain conditions and requirements to get the Renmoney loan.

Firstly, applicants must be between the ages of 22 to 59. Also, loan applicants must have a steady source of income. You must have a valid current or savings account with any bank and a valid means of identification.

When you apply for the Renmoney loan, you will be required to provide reports of your monthly income, a 6 months bank statement, utility bill, recent passport photographs along with report(s) of previous loans you must have acquired from credit bureaus.

All these documents will be assessed and submitted to any Renmoney office for confirmation. Renmoney loan applications are approved within 24 hours. Once your application is approved, you will receive your money into the account you provided in your application.

Applicants are encouraged to repay their loans within the stipulated time for them to enjoy favorable ratings and access higher loan rates in their next loan application.

14. Rosabon Finance Quick Loan

Rosabon loan is one of the online loan providers that offer finance for those urgently looking to money to start a business.

They offer flexible business loans and can provide you with funding for other purposes like funding a burial ceremony, funding a burial ceremony, buying groceries, purchasing foodstuffs, payment of rent, payment of school fees and many other things.

The Rosabon platform offers quick loans for Nigerians at a monthly interest rate of 4 to 6%. However, there are requirements for getting quick loans from Rosabon Finance. First of all, the applicant must be meet the following requirements;

  • Age: Between 21 and 58 years.
  • Have a salary account.
  • Have a pension account or tax ID.
  • Have a valid Proof of Identification.
  • Recent utility bill.

Rosabon is one of the best ways to get quick loans in Nigeria without collateral. Their loans are very easy to get, their loans come at low-interest rates.


In conclusion, InformationNGR is not a loan service provider and we do not endorse any of these companies listed in this post. Before applying for loan money in Nigeria, it is advisable to carefully consider the interest rate and the loan tenure and period and check if you can pay within that period.

There are a lot of online loan companies in Nigeria that claims to give quick loans without collateral. The interest rates of some of these companies could be very high. This is why you must go through the Terms and Conditions during your loan application.

Do not make the mistake of skipping it. We have just provided you with loan companies in Nigeria that give quick loans without collateral. If you have something to say, feel free to use the comment section.

Source: InformationNGR

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