How to Get a Quick Loan in Nigeria

When you have an unexpected financial emergency and need a quick loan, most of us only ever need a quick short term loan to cover immediate costs.  Instead of applying for a large sum at the bank or securing a long term personal loan, a fast online loan in Nigeria with several free loan options available Could be your best bet . A quick loan can help you get the money you need to get back on your feet. Applying online for a quick loan may allow you to get approved, funded and on with your life in just minutes. Many individuals in Nigeria do not have what they can tender as collateral to access a bank  loan. This is why loans without collateral are very important. Fortunately today, business owners and individuals can apply for quick online loans without putting up their assets as collateral. Here are top 10 websites in Nigeria that offer quick loans to small businesses and individuals without collateral in Nigeria:


GroFin is a pioneering private development finance institution specialising in the finance and support of small and growing businesses (SGBs). Their investments and business support help to generate employment, strengthen value chains, and develop markets to bring about inclusive growth and improved living conditions in the low- and middle-income countries where they operate. GroFin provides Small and Medium Enterprise (SME) finance/business loans across Africa & the Middle East. If you have investible numbers and you looking to expand your business, then GroFin is your best short. With GroFin, businesses can access business loans between US$100,000 and US$1.5 million. If you think your business ticks the required checklist, then you can submit your online application here.


QuickCheck is a Nigerian Fintech Startup that aims to provide banking services to the underserved. Built by people who work towards solving real world problems, QuickCheck uses mobile technology to enable individuals and small businesses to gain access to financial credit. According to the platform, users can access quick and hassle-free loans of up to 30,000 Naira without any collateral for a duration of either 15 or 30 days.


The mandate of SMEDAN as contained in the enabling Act can be summarized as follows: Stimulating, monitoring and coordinating the development of the MSMEs sub-sector, Initiating and articulating policy ideas for small and medium enterprises growth and development, Promoting and facilitating development programmes, instruments and support services to accelerate the development and modernization of  MSME operations,  Serving as vanguard for rural industrialization, poverty reduction, job creation and enhanced livelihoods, Linking MSMEs to internal and external sources of finance, appropriate technology, technical skills as well as to large enterprises, Promoting and providing access to industrial infrastructures such as layouts, incubators, industrial parks. SMEDAN, 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.. If you would like to apply, click here to access their online application portal.


Lidya is a financial services platform to improve access to credit and finance across frontier and emerging markets starting with Nigeria. Launched in November 2016, with a mission to close that yawning credit gap, both in Nigeria and across emerging markets where there is a $2.6 Trillion SME credit gap worldwide. Businesses who are looking for $500 USD to $50,000 in working capital are able to apply online or via their mobile phone and get a decision in 24 hours. To assess credit risk, Lidya uses close to 100 data points to evaluate businesses, build a credit score unique to each business, and disburse loans in 24 hours or less.


Aella Credit is building platforms that make it easier for individuals in Africa to gain access to financing. Mainly focused on employee lending and empowerment, the company was affiliated with three main credit bureau agencies in Nigeria to provide quick and affordable loans with no paperwork to its customers. Over 300,000 loans disbursed out of thier network which consist of over 200,000 employees.  Aella Credit uses a  proprietary credit scoring algorithm to determine the creditworthiness of its users. The algorithm, which was built after the team gathered over five years of market data and analysis, processes an applicant’s eligibility for a loan by considering social and demographic factors as well as their debt to income ratio.


Formerly known as One Credit, OneFi is a credit facility company that offers short-term consumer loans to credit-worthy individuals with limited access to finance. The company is on a mission to democratise access to finance by leveraging data and technology. Their lending process is fully online via the Carbon Mobile App, they  leverage on technology to make it easy for you to access their products irrespective of distance and time of day. One-Fi loan repayment cycle is typically between 3 – 6 months, with loan amounts up to N200,000 or more.


With loans of up to NGN 5 million and a flexible repayment period of up to 18months, Zedvance enables you to  borrow up to 3 Million Naira in less than 24 hours. The company specifically provide loans to salary earners but if you are a salary earner with a side business, you can pick up the deal to finance your business . Their 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 the repayable term is within 15 days.


Paylater is an easy and entirely online lending platform that provides short-term loans to individuals and small businesses to help cover unexpected expenses or urgent cash needs. Offers loans, investments, airtime and data purchases, funds transfer and bill payments. With Paylater, you can access up to 500,000 Naira loan with no collateral. Once your application is approved, funds are typically received within 1 – 3 business days. Making on-time repayments can grant you access to higher credit limits for your next loan.


KiaKia is a moneylender that provides direct personal loans at flexible rates, and also match borrowers with individual or corporate lenders at mutually-agreed rates. They offer loans from N10,000 and N200,000 for a minimum duration of 7 days and a maximum of 30 days. Responsible borrowers who earn financial responsibility trust points over a period of time will be able to access much bigger amounts at longer tenure and more flexible interest rates. Kiakia’s services are best for anyone looking for an unsecured personal consumer loan, individual’s ineligible for typical bank or credit union loans and those facing financial hardship.



C24 Limited is a microfinance institution that was established with the sole mission to create an avenue for people to actualize opportunities around them, by helping them access cash loans when they need it.  C24, goes beyond saying that their  customers come first, by getting loans processed with the speed of light (maybe not that fast, but we come pretty close) to ensure that you keep moving. Their online loan process has been optimised to help applicants avoid the stress associated with other loan companies. They have empowered over 150,000 clients.




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