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Top 20 Websites That Gives Instant Loans Without Collateral In Nigeria

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How To Get Instant Loan In Nigeria

There are many ways to get a quick/urgent/instant loan in Nigeria. With the ever increasing number of digital service financial platforms providing quick loans to prospective customers, you can now get an instant online loan within 24hrs or sometimes in less than five minutes on different loan websites.

What is a loan?

A loan is a financial instrument that helps both businesses and individuals to meet financial obligations. However, most lenders often require a form of collateral to serve as security before they give-out the loan to ensure its repayments.

It is a widely known fact that not every person in Nigeria has what they can use as collateral to easily access a loan. This is the major reason why loans without collateral are very important. The good news is that today, a lot of business owners and individuals can now apply for quick online loans without providing any of their assets as collateral.

One of the major problems of doing business in Nigeria is lack of capital. Fortunately, with the new easy and quick online funding options, potential lenders are able to evaluate individuals/businesses creditworthiness and ability to pay back collected loan within a stipulated time frame and may approve an amount of loan based on that assessment.

In this article, we would be discussing 10 websites in Nigeria that offer quick loans to small businesses and individuals without collateral.

Top 10 Websites That Gives Quick Loans Without Collateral In Nigeria

1. Zedvance

 

 

Zedvance are here to meet your financial needs. They give loans of up to 5 Million Naira and a flexible repayment period of up to 18 months which would help you meet your financial needs without any hidden charges.

On the Zedvance website you can get quick funding that works for you.

There are four major steps to get a loan on Zedvance

  1. Create an account –Register through Zedvance website, MoneyPal app or by chatting with Zee on WhatsApp
  2. Apply for a loan – Select the loan package that fits your needs. (There are 3 loan packages- Zedvance Nano, Zedvance Payroll and Zedvance for Business)
  3. Answer a few questions – Tell them a little about you.
  4. Receive funds in minutes – Get your credit alert in less than 10 minutes

Zedvance nano

Zedvance Nano is a structured digital financing service targeted for small amounts usually lower than the micro financing loan tickets. It is an instant short term loan designed to take care of those moments where you need to bridge gaps in finances for a short while. The loan application and disbursement process takes place in under 5 minutes and a repayable term of 15 to 90days.

Zedvance Payroll

Personal credit granted to salary earners employed by either a private or public organization for a monthly loan repayment. These loans are typically backed by salary payments and provided repayment instruments are used to achieve collections till loan expiry.

Zedvance for Business

Loans for SME’s and entrepreneurs looking to take their businesses to the forefront of the market.

How to Apply for a loan on Zedvance Website– Go to www.zedvance.com

2. GroFin

GroFin is a specialist, impact-driven financier. They help entrepreneurs succeed by providing them expert advice, continuous guidance, and financing to grow their businesses.

GroFin clients are entrepreneurs and business owners that want to grow their existing business or start a new business. They are committed to their business and need an understanding financier that is prepared to work with them to grow their ventures.

GroFin Investment Criteria

  1. Countries Supported – Your business operates in countries where we have an office: Kenya, Uganda, Tanzania, Rwanda, Ghana, Nigeria, Ivory Coast, Senegal, South Africa, Zambia, Egypt, and Oman.
  2. Loan Amount – You require medium-term loan capital for your business: between US$100k and US$1.5m for a loan duration of 3-8 years.
  3. Business Operations – You have an established business: operating for 2-3 years and has an annual turnover of 1.5 times the loan amount. We do consider startups on a case-by-case basis.
  4. Business Sectors – Your business operates in one of our preferred sectors: Education, Healthcare, Agri-Processing, Manufacturing, or Key Services (Energy / Waste / Water / Recycling). Other sectors can be considered on a case-by-case basis.
  5. Economic Impact – Your business is making a positive social and economic impact: E.g. Creating Jobs, Sustaining Livelihoods, Empowering Women, Benefiting the Environment.

How to Apply for a loan on GroFin Website– Complete an online assessment – Go to www.grofin.com

3. Carbon Paylater

Carbon (Paylater) empower individuals with access to credit, simple payments solutions, high-yield investment opportunities and easy-to-use tools for personal financial management.

Paylater is a simple, entirely online lending platform that provides short-term loans to help cover unexpected expenses or urgent cash needs.

You can easily get instant loans whenever you need it. Grow your small business or fix personal emergencies with affordable, collateral-free loans. When you apply for a loan at anytime of the day, you get funded in minutes.
Paylater offers loans ranging from 10,000 Naira – 500,000 Naira and if you payback your loan ontime you get a cashback from the interest.

How to Apply for A Loan On Carbon Paylater

It’s simple! Just follow the steps below to apply for a Paylater loan:

1. Visit ng.getcarbon.co

2. Register your personal details

3. Choose your desired loan amount and duration

4. Submit your application. You will get a loan decision in seconds.

5. If approved, your account is credited within 5 minutes.

4. KiaKia

KiaKia is a website that gives you access to personal and small business loans and also enables savers to lend out funds at negotiated interests through intuitive conversations.

The name KiaKia was derived from a Nigerian language which means “Fast Fast”. As they have rightly said, the solution is very simple and fast, but highly effective and efficient.

KiaKia utilizes psychometry, big-data, machine learning and digital forensics for its proprietary credit scoring and credit risk assessment algorithm to provide direct and peered personal and business loans to millions of individuals and SMEs without credit information.

How to Apply for Loan On KiaKia

KiaKia is the financial marketplace to access and lend out personal and business capital. With KiaKia, you borrow responsibly and also lend safely, earning fantastic returns. Borrow at amazing and very flexible interest rates. As low as 6.5%. Go to kiakia.co

5. C24 Capital

C24 Capital is a financial institution which provides retail loans for consumers in need of quick financial solutions. You can now get quick online loan without collateral in Nigeria.

C24 Capital offers 3 categories of loans

  1. Personal Loan
  2. Business Loan
  3. Quick Cash Loan

Their online loan process has been optimised to help applicants avoid the stress associated with other loan companies.

How to Apply for Loan on C24 Capital

The loan application process takes about 5 minutes and you get a reply from them. Go to c24capital.com

6. Specta

Specta is an online lending platform that gives you loans of up to 5 Million in one transaction all within 5 minutes! No collateral, no paperwork and no visit to any office.

With Specta, you can take care of urgent personal and business needs anywhere, anytime.

Specta has 2 loan products, MySpecta which offers individual loan services and Specta4Business which provides quick and accessible loan for corporates and business owners.

How to Apply for Loan On Specta

Go to www.myspecta.com and select the type of loan you need.

7. QuickCheck

QuickCheck uses machine learning to predict borrower’s behaviour and instantly evaluate loan applications. The platform is seamless and easy to use.

With the QuickCheck platform, you can get cash in minutes.

How To Get Loan on QuickCheck

  1. Create a Profile – Sign up for an account
  2. Apply for a Loan -Apply (QuickCheck will instantly run your credit score and let machine learning decide if you qualify).
  3. Get Cash – If you qualify, your cash will be disbursed within minutes to your bank account.

Go to quickcheck.ng

8. Fast Credit

Fast-Credit offers business loans to micro, small and medium enterprises to support business growth.  If you need to fuel your dreams by getting a loan of up to 3-5 million in less than 24 hours with low interest rates, flexible repayment tenor of up to 15 months and instant loan disbursement, you may want to consider Fast Credit.

How to Apply for Loan on Fast Credit

There are 3 categories of loan you can apply for on FastCredit-

  1. Private Worker
  2. Public Worker
  3. Small and Mid-size enterprise (SME)

Go to fastcredit-ng.com

9. Lidya

Lidya is the leading platform for small & medium business finance in fast growing economies. Businesses that are looking for 50,000 NGN to 30,000,000 NGN in working capital are able to apply online or via their mobile phone and get a decision in 24 hours.

How to Get Loan on Lidya

There are four steps involved in getting loan from Lidya in Nigeria

  1. Visit the Libya website to sign up
  2. Upload your transaction history
  3. Understand your transaction data
  4. Be qualified for a loan
  5. Get loan

Go to www.lidya.info

10. Aella Credit

Aella offers Instant Loans In No Time. Whatever your needs, personal or business, you can rely on Aella for a quick, and simple application process to access funds. With Aella you can access non-collateralized loans of up to N1,000,000.

How To Get Loan On Aella Credit

Get one step closer to accessing credit! It’s just a few clicks away.

  1. CREATE AN ACCOUNT – Sign up by providing your personal details.
  2. CHECK YOUR ELIGIBILITY – Provide answers to simple questions about you and submit for a quick review.
  3. APPLY FOR LOAN – Apply for how much laon you need by typing the exact amount.
  4. RECEIVE FUNDS – Once approved, the funds will be disbursed to your account in no time.

Go to – www.aellaapp.com/aella-credit

11. Migo

Migo is an embedded lending platform that enables companies to extend credit to consumers and small businesses in their own apps. In addition to accessible credit products, Migo offers free financial resources to support you on your journey.

How to Get A Loan on Migo

Migo brings Fast. Easy. Loans your way. Checking for loan offers is completely free. Migo never share your information.

  • Receive funds in 2 minutes or less
  • No documentation or collateral
  • Interest as low as 5%

The more you use Migo, the better your offers become. Get lower rates and longer repayment terms, when you take a Migo loan and repay it on time.

Go to www.migo.ng

12. PayHippo

Payhippo offers you access to loans of up to 3 million naira to help you meet your business needs conveniently. The interest rate is 3.5% per month plus an admin fee of 2.5%. For example, on N100,000, you’ll be paying back N106,000 only!

PayHippo is a technology-powered lending platform. Basically, this digital lender offers loans to small and medium-sized businesses, making it easy for people to finance their businesses.

How to Apply for A Loan On Payhippo

To get a loan from this Payhippo platform, follow these instructions:

  1. Create an account via the Payhippo mobile app or web platform.
  2. Complete your profile. Once you complete your profile and your details have gone through the verification process, you start accessing loans.
  3. Apply for an instant loan on the Payhippo platform. Ensure that you pay back your loan when it is due.

Go to payhippo.ng

13. SMEDAN

SMEDAN, is a government-backed initiative to offers quick and easy business loans to Nigerian SME’s businesses in need of financing. The core mission of the organization is to promote entrepreneurship among Nigerians and also provide capital to start the business.

How To Apply For SMEDAN Loan/Grant

SMEDAN also provide business owners with hands-on training and support to help them run their business.

If you would like to apply go to smedan.gov.ng| SMEDAN Online Registration Portal for Grant/Loan

Other Loan Company/Websites That Gives Instant Loan In Nigeria

  • Loanspot – You can easily apply for a loan on loanspot via www.loanspot.ng
  • Renmoney Loan– You can now easily apply for a loan withouth collateral on Renmoney via www.renmoney.com
  • Branch Loan – Branch offers quick and collateral free loans to Nigerians apply for the loan via branch.com.ng
  • Fairmoney Loan – How to apply for fairmoney loan visit fairmoney.io
  • Social Lender Loan – You can apply for a loan on social lender via www.sociallenderng.com
  • Fint Loan – If you need a fast and reliable loan visit fint.ng
  • Jumia Loan – Jumia offers no collateral loans to Nigerians. You can apply for Jumia Loan via pay.jumia.com.ng/services/loans
  • Opay Loan (OKash Loan) -Apply for Opay Loan without collateral and receive the loan instantly go to opayweb.com

YOU MAY ALSO LIKE- Complete List of FGN Loans and Grants 2022/2023 : Application Link

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