List of Companies that give quick loan in Nigeria (No Collateral)

A loan is a financial instrument that allows individuals and businesses to meet their financial obligations. To ensure the repayments of the loan, lenders will often ask for collateral.

Many Nigerians may not have the required collateral they need to get a loan. Loans without collateral are therefore very important. Today, both individuals and business owners can get quick online loans that don’t require collateral.

One of the biggest problems in doing business in Nigeria is lack of capital. Lenders can now quickly and easily provide collateral free loans online. They will evaluate your creditworthiness and ability pay back within a specified time period and approve a loan amount based on their assessment.

In this article, I will show you the top companies & websites that provide quick loans to individuals and small businesses without collateral.


Grofin offers small and medium enterprises financing & business loans in Africa and the Middle East. GroFin is the best option for you if you have investable funds and are looking to grow your business.

GroFin allows businesses to access loans up to US$100,000. If your business meets the requirements, you can submit an online application at


SMEDAN is the government-backed initiative that offers quick and easy loans to Nigerian SME businesses that are in urgent need of financing. Its core mission is to encourage entrepreneurship in Nigeria and provide capital for the start of businesses.

SMEDAN provides business owners with training and support as well as financial assistance. Go to to submit your application

Lydia provides online financing for businesses. This platform provides small and medium-sized companies with loans between $500 and $15,000 or equivalent in Nigeria.

Lydia uses technology to determine the risk of loans before they are granted. This allows them to offer low-cost financial products to customers.

Aella Credit

Aella Credit is creating platforms to make it easier for Africans to access financing. The company is primarily focused on employee empowerment and lending. It was also affiliated with three major credit bureau agencies in Nigeria, allowing it to offer quick and affordable loans to customers with minimal paperwork.

Aella Credit uses its own credit scoring algorithm to assess creditworthiness. After analyzing five years worth of market data, the algorithm determines whether an applicant is eligible for a loan. It takes into account social and demographic factors, as well as their debt-to-income ratio.


Zedvance, a consumer finance company, is committed to offering consumers credit. In less than 24 hours, you can get up to 3 million Naira.

Although the company primarily lends to salaried workers, it also offers quick loans for business owners.


Paylater is an online lending platform that allows individuals and small businesses to borrow short-term funds to cover unexpected expenses and urgent cash needs, is simple and easy to use.

Paylater allows you to get a loan up to 500,000 Naira without any collateral. After your application has been approved, you will usually receive funds within 1 to 3 business days. You may be eligible for higher credit limits if you make timely repayments.


KiaKia is a digital money lender to Nigerian businesses. KiaKia uses psychometry, big data, machine learning, and digital forensics to create its credit scoring algorithm and credit risk assessment algorithm. It provides direct loans for personal and business purposes to millions of people and small businesses.

The name KiaKia is derived from the Nigerian pidgin language, meaning “Fast Fast”,


Formerly One Credit, OneFi is a credit company that provides short-term consumer loans for credit-worthy people with limited financial access.

The repayment period for One-Fi loans is usually between 3 and 6 months. You can access Loan amounts up to N200,000.


C24 is a microfinance bank that was founded with the sole purpose of helping people access cash loans whenever they need them.

C24 understands that quick cash loans are necessary and tries to maintain a faster loan processing time. C24’s online loan process has been optimized to reduce stress and have advantage over other loan companies.


QuickCheck provides a modern lending platform to individuals and small businesses. QuickCheck makes it easy for individuals and small businesses alike to access financial credit via mobile technology.

The platform allows users to access loans fast and without collateral up to 30,000 Naira for either 15 or 30-day periods.


The online lending platform Specta allows you to get loans up to 5 million in just 5 minutes. There is no collateral, paperwork or need to visit any office. Specta allows you to take care of your business and personal urgent needs from anywhere.

Specta offers two loan products: MySpecta, which provides individual loan services, and Specta4Business, which provides fast and easy loans for business owners and corporates.


FastCredit provides business loans to small, medium and micro enterprises in order to help them grow their businesses. For business owners who meet the criteria, the loans can be backed by guarantors for a maximum term of six months.

They offer business loans as well as quick and easy ‘all-purpose cash loans to employees of corporations such as banks, TELCOs and Insurance/other financial institutions.

Branch is an international fintech company with presence in Nigeria, India, Kenya, and Tanzania. Branch offers collateral free instant loans between N2,000 – N500,000 with a payment term of up to 1 year.