Loans help small businesses and individuals. Some loans are quicker than others. Getting loans in Nigeria is now an online thing and takes a faster process than otherwise.

Many of the loan platforms offer their loans without collateral while some of them may require collateral. This article will tell you how to get instant loans without collateral in Nigeria.

1) Step1: Go to the loan platform

There are many organizations offering loans online and they are:

  1. a)

Kiakia lends money digitally to businesses in the country. They make use of big data psychometry, forensics and machine learning for its credit analysis. Kikia also offers business, personal and direct loans to small scale enterprises and businesses.

They can offer these loans to enterprises with information on credits. Kiakia means ‘fast fast’ in a Nigerian language.

  1. b)

Lidya is another loan platform in Nigeria and they offer financial access. Lidya can offer SMEs (small and medium scale enterprises) an unsecured loans that is up to $15000 and $500.

They utilise algorithms and technology for risk assessment before there is granting of the loans. It let’s them render financial services to customers at a cost that is low.

  1. c) GroFin

Grofin offers loans across the Middle East and Africa. GroFin helps you expand your venture. You can get a loan of between $1.5m and $100000.

  1. d) PayLater

PayLater offers you a platform that can offer loans in a short term to small scale enterprises and individuals. There is covering of needs for instant cash and contingencies here. PayLater let’s you access a loan of up to 1,000,000 Naira and this is with no collateral.

Your funds come in after approval and this is after 1 to 3 working days. Note that if you repay on time, you have access to a higher credit for the next loan.

  1. e) OneFi

The previous name of One-Fi was One Credit and they offer loans in short term to individuals who need them. The cycle for this payment ranges from 3 to 6 months with loans that can reach N200,000 and above.

  1. f) C24Limited

C24 Limited came as a financial micro institution and they aim to help people get loans when they need them. They know the need for instant cash and the need to process loans faster. C24 Limited enable applicants to avoid misfits connected with other loan firms.

  1. g) Quickcheck

Quick Check lends to small scale businesses and individuals and they are a modern platform. They make use of technology to enable their users get some financial aid. You can get a loan of N30,000 and this is without a collateral for 15 days or 30 days.

  1. h) Aellacredit

Aella-credit is a platform for Africans and their focus is on empowering and lending to employees. Their loans are affordable and quick. They make use of an algorithm of credit for analyzing the credit potential of their users.

There was constructing of the algorithm and this was after the team brought more than 5 years of analysis and data.

  1. i) Zedvance

This is a company that offers consumer credits to individuals and their loans are very fast. You can get a loan of 3 million Naira on Zedvance and this is in less than 24 hours. The loans goes to earners of salaries and businesses.

  1. j) Smedan

Smedan is an initiative of the government and their loans are very fast to businesses that need them. The major aim of the firm is the promotion of entrepreneurship for Nigerians. They offer capitals for start ups. Smedan can offer support and training that can help them operate a business.

  1. k) Fair Money

There are certain steps for you to get your loans here on Fair Money and the amounts vary with a N20000 difference.

  1. l) Snap credit

You get the loan few minutes after confirmation on Snapcredit and the loans you get depends on repayment of previous loans and income.

  1. m) Credit Ville

Credit Ville offers loans in Nigeria and you can get up to N50,000. The optimal duration of their loans is 12 months.

  1. n) Specta

Specta is a mobile platform of Sterling Bank and they give up to N5 million and this is just in 5 minutes.

  1. o) Kwic Cash

They can offer up to N500,000 with no collateral. Repayment ranges from 14 to 30 days and the rate of interest is 5 to 15%.

  1. p) Fint

Fint offers quick loans without collateral and they offer from N60000- N2,000,000. Repayment can be 12 months and interest is 2% on a monthly basis.


Getting an instant loan is possible online in Nigeria and there are many platforms offering instant loan services. Remember to repay on time. This can give you more chances of getting higher loans next time.

However if you do not fulfill your own part of the process, it can crumble further loan activities. Always repay on time because a stitch in time saves nine.

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