Top 15 loan app and platform for quick lending in Nigeria - Startuppreneur
Side hustle

Top 15 loan app and platform for quick lending in Nigeria

At times there will be a short of cash both in business and personal life, all effort will proof abortive, bank would have been the next step but there requirement is much and often strenuous.

But what a good news, the wake up of entrepreneur to tech startup has reduce this stress, you can easily obtain millions of loan with just a phone, no need of collateral, no need of due diligence and bank queuing.


Below are the quick loan apps and platform in Nigeria

Loan app from Nigeria Bank

1) Kuda bank overdraft
Kuda bank is a neo bank who characterizes herself as only online bank in Nigeria and truth they have no physical location since it was establish.


They included loan into their banking services recently and their customers are already obtaining the loan based on their monthly transaction.

The good news about the loan is that they charges 0.3% interest per day but it duration is short just 1 month.

2) Alat app
Alat is a wema bank app, use to offer online banking services to her customers, they also include loan into their online banking services which means you can obtain loan without collateral and paperwork.

They are a bit better than kuda bank in the sense that it is an outright loan which can last for months at 2% interest rate.


3) Specta
Specta is own by sterling bank their target are individuals and business. Specta is like other neo bank app, you can save money and also obtain loan.

Amount of loan to receive depend on transaction volume but they can give as much as #5 million.

Fintech loan app

4) Carbon (Pay later) app
Carbon app provide up to #500,000 loan to it customers without collateral, their motive is to support small business and those who need cash quickly. It takes 1 to 3 business days before you will see alert if you apply for the loan.

5) Palm credit
Palm credit offer up to #100,000 in a minute, like other app they require no collateral or paper work just your BVN.

If you apply, your loan will be disbursed in a minute and as you pay regularly you credit score will increase.

6) Quickcheck
Quickchek also target individual and small business with up to #30,000 instant loan for 15 to 30 days. It requires no collateral and paper work.

7) Aella credit
Aella credit is big fish targeting employee in Africa, they have sophisticated equipment (algorithm) to check credit worthiness of their customers from data collected over five years, so if you have defaulted on a loan before, you will surely not be able to receive loan form them. They also do not require collateral.

8) Fairmoney
Fairmoney target market is education, personal and business loan, they are ready to disburse loan in minute once you meet up with their requirement.

If you want to pay bill or school fees you can quickly make use of the app you will receive alert instantly.

9) Lidya
Lidya is another loan platform that target small business in Nigeria. It was established in 2016 and they have their branches in Nigeria, USA, Portugal and Czech Republic.

They require no collateral but you will have to upload you statement of account which will be verify in 24 hours. Their interest rate is 3.5% and their loan duration is in months.

10) Branch
Brach target Nigerian and Ghana and there is assurance that you will get your loan as quick as possible.

Their loan ranges from #1,500 to #150,000 and it duration is between 4 to 64 weeks.

Warning! The interest is much between 14% to 28% make sure you have what you use to return the loan.

11) Renmoney
Renmoney target SMEs in Nigeria they offer up to #100,000 loan with 2.8% interest per month. They require bank statement so as to check your credit worthiness.

12) Migo
Migo mission is to provide between #500 to #500,000 loan to business and individual. They use algorithm to check their customer credit score.

To check if you are qualify for their loan dial *556# or visit their portal.

13) Okash
Okash is a subsidiary of Opay a Fintech app use for making transaction, you can access up to #50,00 loan on the platform with no collateral.

14) Jumia pay
Jumia pay is also a transaction app which includes loan services with no collateral. Jumia pay are professional and trustworth since it is own by jumia.

15) Kiakia
Kiakia is loan platform as well as connector who connect those who want to lend out their money to those seeking it.

They also use algorithm to check their customer credit worthiness, if you have defaulted on loan before, do not go to them. It also require no collateral and paper work.

There have been numerous cases of Fintech loan app cold calling their defaulters relative and go as far as blackmailing them, I’m sure you will don’t want this, so thread carefully when seeking loan, read their term and condition, note their payback period and also interest rate.

I will advise you to seek loan from bank above they are easy, professional and they won’t let you bite more than you can chew.

Back to top button