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Top 10 Websites That Gives Quick Loans In Nigeria Without Collateral



How To Get Interest-Free Loans in Nigeria

Top 10 Websites That Gives Quick Loans In Nigeria Without Collateral

According to research, many business ideas doesn’t see the light of the day because of lack of capital to start-up the business. Capital is the major issue many people haven’t started that business, it’s not that the zeal or willingness to start the business is not there but lack finance.

You may also want to read 4 Key Steps of Getting a Small Business Loan Without Collateral

One of the popular way to get capital for your business is through Loan but oftentimes people are scared of collecting Loan due to Collateral.

Before we continue, let’s understand what is Loan & Collateral.

What is a Loan?

A loan can be said to be a borrowed thing, especially a sum of money that is expected to be paid back with interest or a financial instrument that helps both businesses and individuals to meet financial obligations.

What is Collateral?

Collateral is something pledged as security for repayment of a loan, to be forfeited in the event of a default.

We all know not everyone in Nigeria has something to pledge as collateral to get a loan. This is why getting a loan without a Collateral is very good.

Nowadays, there are many online website ready to give individuals loan without colleteral. We will be walking you through some of these online websites to enablee you get loan without colleteral.

Top 10 Websites That Gives Quick Loans In Nigeria Without Collateral


Top 10 Websites That Gives Quick Loans In Nigeria Without Collateral

The first on the list is SMEDAN which stands for Small & Medium Enterprises Development Agency of Nigeria. It is a governmental backed initiative to offer quick and easy small & medium business loans. The main aim of the organisation is to promote entrepreneurship among Nigerians and also provide capital to start the business. They also provide training to individuals thereby helping individuals to acquire skills. Visit their official website to apply


The next we have is Lidya, it is an online platform that assist businesses such as medium and small businesses with unsecured Loan 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 these customers at a low cost.”


Paylater is one of the easy to use online platform for getting loans. The platform provides short-term loans to individuals and small businesses in Nigeria.

This platform offers upto N500,000naira loan without colleteral. 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. To apply, visit their website


Top 10 Websites That Gives Quick Loans In Nigeria Without Collateral

Kiakia is another online platform that lends money to Nigerian businesses without colleteral. It adopts 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. To apply, click here to visit their official website

You may also want to read How to Start a Business Without Capital


Aella Credit is another digital platform that enables individuals in Africa to get access to loans. They mainly focused on employee lending and empowerment.

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.


Zedvance is a consumer finance company committed to providing consumer credit to individuals. You can 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 with a side business, you can pick up the deal to finance your business use. Official website


OneFi is another simple and easy to use platform that offers short-term consumer loans to credit-worthy individuals that has limited access to finance.

It was formerly known as One Credit, One-Fi loan repayment cycle is typically between 3 – 6 months, with loan amounts up to N200,000 or more.

8. C24

Top 10 Websites That Gives Quick Loans In Nigeria Without Collateral

C24 is also one of the best online loan websites in Nigeria that provide retail loans without collateral for consumers in need of quick credit.

Their minimum loan amount is N40,000 and the maximum loan amount for a new customer is N750,000, while for existing customers, you can get up to N2,000,000.00.

C24 understands the need for quick cash loans and the necessity of quicker loan processing time. Their online loan process has been optimised to help applicants avoid the stress associated with other loan companies.


Top 10 Websites That Gives Quick Loans In Nigeria Without Collateral

GroFin is another online platform that offers small and Medium Enterprise business loans accross Africa & Middle East.

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.


Specta is one of the easiest and user-friendly platform to use. Its 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.

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