Borrow Money Online Instantly in Nigeria: Are you in need of instant loans to start up a business or for other pressing needs? This article is about to present you with 10 websites that you can borrow money online instantly in Nigeria without collateral. Let’s begin!
KiaKia is an online money lender for Nigerian businesses. KiaKia utilises 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.
The name KiaKia was derived from a Nigerian language which means “Fast Fast”. According to them, the solution is very simple and fast, but highly effective and efficient.
C24 Limited is a microfinance institution that was created 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 understands the need for quick cash loans and the necessity of quicker loan processing time. Their process for online loan has been optimized to help applicants avoid the stress associated with other loan companies.
Formerly known as One Credit, One-Fi is a credit facility company that offers short-term consumer loans to credit-worthy individuals with limited access to finance. One-Fi loan repayment cycle is typically between 3 – 6 months, with loan amounts up to N200,000 or more.
Lidya is an online platform that provides businesses access to finance. The platform offers small and medium-sized businesses unsecured loans of between $500 and $15,000.
According to the founders, “Lidya uses technology and algorithms to assess the risk before granting the loans, it allows them to offer financial products to customers at a low cost.”
Paylater is an easy and entirely online lending platform that provides short-term loans to individuals and small businesses in Nigeria to help cover unexpected expenses or urgent cash needs.
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.
QuickCheck is a modern lending platform for individuals and small businesses. QuickCheck uses mobile technology to enable individuals and small businesses gain access to financial credit.
According to the platform, users can access quick and problem free loans of up to 30,000 Naira without any collateral for duration of either 15 or 30 days.
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 has affiliated with three main credit bureau agencies in Nigeria to provide quick and affordable loans with no paperwork to its customers.
Aella Credit uses a proprietary credit scoring algorithm to determine the credit worthiness 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.
Smedan, a government-backed initiative to provide quick and easy business loans to Nigerian SME’s businesses in need of financing. The main mission of the organization is to promote entrepreneurship among Nigerians and also provide capital to start the business.
Apart from funding, Smedan also provide business owners with hands-on training and support to help them run their business.
Zedvance is a consumer finance company dedicated to providing consumer credit to individuals. You can borrow up to 3 Million Naira in less than 24 hours.
The company particularly provides loans to salary earners but if you are a salary with a side business, you can pick up the deal to finance your business use.
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.
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