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Getting a loan in Nigeria is tough. There’s usually a lot of disagreement and distrust, with the deal-breaker being strong collateral that the borrower cannot afford. Because of this bubbling concern, a few individuals started websites and platforms that give quick loans without collateral in Nigeria.

Indeed, a lot of these businesses have grown as they’ve constantly helped borrowers receive the help they need, and these borrowers fulfilled their promise by repaying the loan.

On the other hand, some of them have experienced terrible situations with borrowers who had problems paying back their loans.

Whether head or tail, it’s vital you understand that these websites that give quick loans without collateral in Nigeria are running an enormous risk that can reward them or destroy them. Therefore, let’s quickly extend this conversation to identify some of these big loan agencies.

1. Grofin

GroFin is an industry that seeks to support SMEs in Africa with loans to help them scale their businesses faster. In their market, they have helped over 735 SMEs, 9,360 entrepreneurs, and approved over $385 million in business loans.

In other to increase your chances of accessing a loan from this industry, your business has to be in Education, Healthcare, Processing, or Manufacturing. Additionally, it must positively affect the society wherein you operate.

As with every loan case, you need to provide a guarantor and show your numbers to GroFin, representing 1.5 times the annual turnover greater than the loan. You can require medium-term loan capital between US$100,000 and US$1.5m (equivalent in local currency) for a loan duration of 3-8 years.

2. Paylater

Paylater is an automated lending service aimed at improving the ease to access credit to financially under-served/excluded individuals around Africa.

You can get access to loan provisions within seconds and receive your funds within five minutes after approval. You can access your loan via an Android mobile app, with lending decisions provided almost instantly. If you’re a new borrower, your starting price will be N10,000 only.

These loans basically function as help to aid you to recover and stay afloat until you monetize again. It is perfect for anyone looking for an unsecured personal consumer loan, students, and individuals ineligible for typical bank loans due to thin credit files.

3. Kiakia. Co

KiaKia is a licensed non-banking financial technology company. They’re one of Nigeria’s pioneer digital lenders and also the leading peer-to-peer marketplace. KiaKia grants you access to secured and unsecured loans and also takes part in well-structured profit-sharing business transactions.

The platform aims to ensure credible individuals and businesses have access to critical credit despite the lack of credit history/information, institutional bureaucracies, lack of innovation, and ability to meet this need.

Unlike other loan agencies, the KiaKia Peer-to-Peer Marketplace is an app-based platform structured based on an exchange or negotiation. The Marketplace enables individuals, via the KiaKia P2P App, to lend to Nigerian consumers and MSMEs directly through its peer-to-peer lending platform.

4. One-Fi

OneFi has constantly sought to democratize access to finance by leveraging data and technology. They have created a complete lending process fully online via the Carbon Mobile App. You can leverage technology to make it simpler to access a wide range of products, irrespective of distance and time of day.

Carbon is the simple, mobile platform for Payments, Bills, Smart Investments, Credit Reports, and Instant Loans. It is the perfect place to run when you need help to cover unexpected expenses or urgent cash needs. You can apply for a Carbon loan 24 hours a day, 7 days a week using a quick application process that lets you know your status within minutes.

5. C24

C24 is one of the huge websites that offer loans without collateral in Nigeria. On this platform, you can either opt for personal loans, business loans, or quick cash loans. Each of these loans comes with peculiar interest rates and unique conditions.

To start your loan process, you will need to fill out an application form and submit all necessary documents for analysis. After analysis, you will receive a call from an agent for some confirmation, after which you will receive your loan in 24 hours if your application pulls through.

6. Quickcheck

Quickcheck is another in our list of websites that give loans without collateral in Nigeria. Indeed, they come in strong at this position with their simplified and improved technology that allows you to avoid long queues, wait time, and bulky documentation when you need a quick loan.

As a borrower, your behavior will be accessed and this will instantly help in the evaluation of your loan application. This assessment process ultimately offers you the best credit amount you can get to fund your business or personal goals.

To use this platform, you will need to download the app, create an account, and apply for the loan immediately. The platform is fully secured; it will leak none of your documents. Currently, the application is only available on Google Playstore.

7. Smedan

Smeden boasts to be a Vanguard for rural industrialization, poverty reduction, job creation, and enhanced livelihoods. And they’re not only one website that gives loans without collateral in Nigeria; they do more than that.

On the Smedan platform, you can learn to write a business plan, boost your skills and knowledge base, register your SME and even get access to survival funds for your business.

Smedan is constantly working in contact with other institutions in both the public and private sectors to create a good enabling environment for business and MSME activities in particular.

8. Lydia. Co

Lydia will help you access working capital, keep track of your receivables and invoice your customers anywhere & anytime. Your loan applications are processed within 48 hours and, if approved, disbursed within the same day.

As expected, banks will demand collateral to give you a loan. To get financing from Lidya, you don’t need to have collateral; you only need your 3 years of audited financials and 5-year financial projections. The algorithms process around 100 data points to make a decision on your application.

9. Aella-Credit

Aella exists to simplify and create financial access for all in emerging markets – by using technology and widespread mobile adoption, they create products to be impactful at the frontier of Financial Inclusion. More so, their customers build financial independence through access to simple products such as loans and investments.

Aella takes the hassle out of finance—efficiency, simplicity, and ease of use are what you get with having all your financial services on one app. Whether you are a business or an individual, we put control back in your hands.

10. Zedvance

Zedvance Limited is a consumer finance company. They remain keen to provide consumer credit to their target market in the most efficient and convenient manner while ensuring best practices. As one of the top websites that give loans without collateral in Nigeria, they have many branches scattered all over the globe.

Zedvance gives you the opportunity to secure quick loans by chatting with them on Whatsapp. Alternatively, you can drop a text member to their Whatsapp number after you have fulfilled all the requirements for the loan you desire to take.

11. Specta

Specta is an online lending platform that helps you access loans of up to 5 Million in a single transaction all within 5 minutes. You don’t need any collateral, paperwork, and you don’t need to visit any office too. With Specta, you can take care of urgent personal and business needs anywhere, anytime.

Individuals who use the Specta platform can get up to 5 million in credit as established businesses that want to attain a higher level can get much more. Before you access your loan, you’ll need to complete a registration process and also pass a certain credit score.

12. Fast Credit

FCL is fully involved in the micro-lending market wherein there are so many huge untapped opportunities. They provide value-based lending to this bottom of the pyramid that may not have access to credit from the traditional banking system in line with the financial inclusion policy of the Central Bank of Nigeria.

They plan to create a platform for the investment of wholesale funds via investment notes, and borrowings are currently focused on providing fast and need-oriented payroll-based consumer loans to qualified civil servants and other payroll employees in Nigeria.


Many businesses have failed to make considerable progress without money. In fact, poor finances are arguably the leading cause of many failed businesses in Nigeria – some of them brilliant startups with viable ideas.

However, now you’re sure you can secure quick loans without collateral in any of the platforms we discussed above, your business will flourish as you can also have the cash to solve some personal issues as well.

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