
How To Obtain Quick Online Loan In Nigeria Without Collateral
Unavailability of quick online loans for small business owners over the years in Nigeria had shattered a lot of potentials and delayed many individuals to actualize their dreams in due time because accessing start-up capital in this part of the world is one of the major challenges faced by SME.

How To Obtain Quick Online Loan In Nigeria Without Collateral
Unlike the traditional banks that offer loans with high-interest rates, collateral, documentation, and guarantors, Financial technology companies have to take over Nigeria’s Lending Industry by lending business owners and individuals quick, easy and cheap loans without collateral.

How To Obtain Quick Online Loan In Nigeria Without Collateral
Most especially the high internet penetration and the use of mobile devices to access a lot of sites in Nigeria have really change the story so fast. Individuals and small business owners can easily access quick and fast loans to help meet their business and financial obligations due to many online lending platforms that have taken over the Nigerian market.

How To Obtain Quick Online Loan In Nigeria Without Collateral
With a quick online loan in Nigeria, business owners and individuals can apply for loans without putting up their assets as collateral. With this new lending options, lenders evaluate creditworthiness and ability to pay back within a stipulated time frame and may approve an amount of loan based on that assessment.
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Quick Online Loans Without Collateral In Nigeria

Quick Online Loans Without Collateral In Nigeria
Here are over 20 quick online loan platforms in Nigeria you can lend money from to start up your business, upscale your business enterprise or take care of your financial needs without collateral. Below are the top websites that offer the best quick online loans in Nigeria and their interest rates.
1. Aella Credit

Aella Credit
Aella Credit is an online loan platform in Nigeria that provides instant loans for individuals across Africa without collateral and the company majorly focused on employee lending and empowerment. Aella Credit is designed to help employees access more funds between 1,500 to 700,000 with an interest rate ranging from 4% – 29% monthly. According to research, the company was affiliated with three main credit bureau agencies in Nigeria to provide quick and affordable loans with no paperwork to its customers.
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.
2. Renmoney

Renmoney
Renmoney is an online lending platform in Nigeria that offers customers and prospect unsecured cash loan up to N4million for 4 to 9 months repayment plan for new customers without collateral or guarantor. However, returning customers enjoys credit loan as long as 12months. Meanwhile, customers can either be salary earners or self-employed as long as they can provide a verifiable source of income.
Renmoney is committed to the provision of simple money solutions and currently has a staff base of over 400 employees and a customer base of over 25,000 customers and still counting and they operate under a microfinance bank (MFB) license in Nigeria.
To apply for Renmoney credit loan, you are expected to be between the age of 22-59, have a steady source of income with a functional current or savings bank account and a valid means of identification. An applicant is also expected to provide verification of their monthly income and a report of their previous loans from a credit bureau. All these are to be submitted to any Renmoney office for confirmation.
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3. Playlater

Playlater
PlayLater is a mobile online lending platform that provides short-term loans to individuals and small businesses in Nigeria without collateral. this platform is designed to help customers cover unexpected expenses or urgent cash needs, you can access this amazing platform through Google play store or their website by simply logging in to access their dashboard.
Playlater is a secured and reliable platform that works 24/7 across Nigeria and Ghana. Through, Paylater mobile app you can get quick loans up to ₦1million within 5 minutes without documents or collateral and repay over a period of 15 days to 6 months at different interest rates. This online lending platform is specially developed for those people who have temporary money mishaps or other unforeseen expenditures.
It will be interesting to let you know that the latest playlater app offers more than just loans, It gives customers the privilege of investing money which yields an interest of up to 15.5% annually by investing in PayVest on Paylater. To achieve this course simply send cash to friends and family, recharge airtime on your mobile phone and pay for utility bills such as GoTV, DSTV, LCC, or Bet9ja right in the app.
If you really need a quick loan in Nigeria without giving any collateral, Paylater will certainly help you out. All you need to do is download the app and apply for this service. With Paylater, you will get an instant loan without having to wait. Very useful when you are stranded.
4. Branch Loan App

Branch Loan App
The branch loan app is another online lending loan platform that gives individuals the opportunity to lend money on the go. This company that is based in Nigeria, San Francisco, Nairobi, and Mumbai is like a bank in your pocket that uses technology to dramatically reduce the cost of delivering financial services in emerging markets.
Branch Loan App works 24/7 without collateral, unlike other lendings quick loan platforms, the branch loan app focuses on small business owners more than others with a weekly repayment. But in Nigeria, the initial amount of loan allowed to be borrowed is N6,000 with an interest of 1,200 Naira in 30 days.
Branch loan app is fast, convenient and reliable and presently available in Kenya, Tanzania, and Nigeria. The payment option could also spread out to 4 weekly payments with 1,800 per week. 1.e If they disbursed a loan of N10,000 to your account, they will divide that amount together with interest into 4. That means every week you have to pay and complete it within four weeks.
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5. QuickCheck

QuickCheck
Quickcheck is a modern quick online loan platform in Nigeria that uses mobile technology to enable individuals and small businesses to gain access to financial credit. When it comes to getting a quick loan in Nigeria QuickCheck is readily available to lend you money without collateral whether it is credit for medical bills, school fees, payday advance or unexpected cash problems.
On QuickCheck users can access quick and hassle-free loans up to N30,000 without any collateral for a duration of either 15 or 30 days with just 1% every day. To know more about this fast loan quickly download their online mobile App and have access to the loan in no time.
6. C24 Limited

C24 Limited
C24 limited is yet another quick online loan lending platform established with the sole mission to create an avenue for people to actualize opportunities around them, by helping them access quick loans when they need it. C24 limited is a microfinance institution that understands the need for quick cash loans and the necessity of quicker loan processing time.
This online lending platform is known as C24 limited offers personal loans with low-interest rates and a simplified repayment structure to customers and presently operating within Lagos State, Nigeria with the plans to expand their coast to other regions of the states. Lately, their online loan process has been optimized to help applicants avoid the stress associated with other loan companies.
At C24 limited, a personal loan is made available to employees whose employers have endorsed their employees’ loan application. This loan typically does not require any security, usually processed very quickly, in some cases the repayment terms are more flexible than Personal Loan.
To apply for loan at C24 limited you will need to be between 22 and 55 years, must live and/or work in Lagos State, be employed for at least 6 months and get paid into your bank account, have a good credit history, you must have a verifiable monthly income and you must have a pension account.
7. Kwikmoney

Kwikmoney
Kwikcash, known called Kwikmoney is a quick money lending platform that focuses on lending loans to personal and small business owners who are in need of working capital or family contingencies in Nigeria. Kwikmoney partners with banks, mobile network operators, and technology companies to offers its customers both internet-based, app and USSD loan options.
This online lending platform gives an instant loan of up to N500,000 direct to your bank account without paperwork, documentation, and collateral with a payment plan of 14-30 days associated with a 5% to 15% interest rate. This company is set out on a mission to make personal banking services convenient and accessible to all Nigerians.
8. KiaKia

KiaKia
Looking for a quick money lending platform with no paperwork and collateral for Nigeria businesses, Kiakia is the right digital platform you can think of. It utilizes 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.
9. FairMoney Loan App

FairMoney Loan App
FairMoney Loan App is one of the latest and fastest loan apps that provide quick cash for personal finance, health emergency, car repairs, rent payment, and buying of consumable goods in Nigeria without collateral.
Also, FairMoney also goes as far as providing education loans with the aim of enabling students to reach their career goals in life with a business loan for business owners who plan to start up a business or develop an existing business. With FairMoney Loan App you can get an instant decision and funds transferred to your bank account in 5 Minutes.
10. One-Fi

One-Fi
One-Fi which is once called One Credit is also a quick online lending platform in Nigeria that offers short-term consumer loans to credit-worthy individuals with limited access to finance. The credit facility company give its customers 3-6 months repayment cycle with loan amounts up to N200,000 or more.
11. Palmcredit Loan App

Palmcredit Loan App
Palmcredit Loan App is a mobile loan in Nigeria that provides fast loans without collateral. Palmcredit is owned by Transnet Financial and operates in Nigeria and plans to expand to other countries in Africa. In the first phase of the product, users can apply for a short-time cash loan of 7 days/14 days using their own credit limit, which can be used for cash withdrawal or recharge.
You can apply for your credit limit in minutes, then take as many instant loans as you need without further approval steps. It is called a credit revolution! As soon as you repay, your credit score is updated. Repay on time and watch your limit grow to N100,000. Palmcredit makes it easy for people to access a loan, anytime, anywhere.
12. Lidya

Lidya
This online money lending platform that provides finance to small and medium-sized business owners with unsecured loans of between $500 and $15,000. This unique platform that was launched in November 2016, with a mission to close the yawning credit gap in Nigeria and across other countries is set to finance its customer’s invoice, equipment many other things through loan within 48hours if you are opportune to be approved after you have applied.
Lidya strives in emerging markets where there is a $2.6 Trillion SME credit gap worldwide. 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.”
13. Zedvance Limited

Zedvance Limited
Zedvance limited is a consumer finance company that offers consumers quick and fast loans at a highly competitive rate. At Zedvance you can borrow up to 3 Million Naira in less than 24 hours with interest rate ranging from 4.0% to 4.5%, meanwhile, the loan amount largely depends on your net pay but it comes without collateral or documentation.
However, your interest rate most times depend solely on how well you can bargain and the level of risk involved in your loan and it is basically for salary earners in the country, unless you are an employee with a side business, the can help you finance your business.
14. GroFin

GroFin
This is another quick online lending platform that provides small and medium enterprise loans to finance/operate their business in Nigeria Africa Middle East without documentation and collateral. GroFin offers its customers business loans not less than US$100,000 to US$1.5 million. Therefore if you are looking to expand your business or have an investible idea, sure! GroFin is the best platform to be.
15. ALAT Loan App by Wema Bank

ALAT Loan App by Wema Bank
ALAT Loan App is a mobile online lending platform designed to function as a digital bank that customers can borrow up to N200,000 without collateral. As a digital bank, you can open an account, Schedule transfers, save and pay bills automatically, get your bank card delivered to you anywhere in Nigeria and get up to 10% interest on your savings. With ALAT Loan App by WEMA Bank, no visitation to any physical location and response time between acceptance of offer and loan disbursement is in minutes.
16. SMEDAN

SMEDAN
SMEDAN is a government-backed initiative that offers quick and easy business loans to Nigerian SMEs businesses in need of a loan to finance their business. The core mission of the organization is to promote entrepreneurship among Nigerians and also provide capital to start their business. Aside from funding, SMEDAN also provides business owners with hands-on training and support to help them run their business.
17. Credit Ville

Credit Ville
Credit Ville is a mobile credit system that offers instant loans for Small Scale Business (SME) owners or verified employees in Nigeria without collateral. This platform also provides the opportunity to apply for three types of the loan which are PayDay loan, Business loan, and Cab Lease. On this platform, the highest possible funds amount you can receive is 250,000 Naira and the ultimate lending period is twelve months.
The requirements needed for credit Ville includes 1 passport photograph, 1 means of identification (international passport, drivers license or national ID)Last 6months statement of account, Certificate of Incorporation Memorandum of Association, Post-dated NUBAN Cheques from the client, A suitable guarantor who will provide the following:, Employment/Confirmation Letter, One undated NUBAN Cheque, Copy of Staff ID card and Filled guarantor form provided by Creditville Limited.
18. FINT Loan

FINT Loan
FINT loan is a leading online mobile app that helps merge lenders with creditworthy borrowers for a competitive return and at an attractive interest rate that ranges from 3% to 5% per month depending on the borrower’s risk score in Nigeria using a numerical expression based on a level analysis of a person’s information.
FINT loan is known for its simple yet affordable quick Loans which allow the borrower to lend up to ₦20,000 to ₦1,000,000 with a fixed payment plan of 3, 6 or 12 months. The payback principal and monthly interest are enjoying at low rates (as low as 2% monthly) with no collateral required.
Like other lending platforms, FINT loan charges the borrower two fees that are both one-time payments. The first is a verification fee (NGN 3000) and the second is a closing fee (8%). The closing fee is to be paid before disbursement of the fully-funded loan. In addition, a transfer fee (1.8% + NGN100) is passed on to the borrower.
19. Credit Direct Limited

Credit Direct Limited
Credit Direct Limited is a quick online lending platform that prides itself on providing quick turnaround loans for all customers within 12 hours with top-notch customer service and efficient operational processes with little documentation. In 2011 credit direct limited introduced its Asset-based loan product which offers customers the opportunity to purchase house-hold items and also accommodate certain segments of the market that are averse to interest-bearing loans.
in 2015, its launched a new product which is ‘Empower the Corps’ it is designed to provide loans to corps members to start-up small business, add a professional qualification or buy lifestyle or commercial assets. Credit Direct Limited is positioning itself to become the dominant market leader in the unsecured micro-lending (payroll lending) space in Nigeria and in Sub-Saharan Africa. Presently, it operates in 25 states in Nigeria including Abuja with a staff strength of over 1000 employees and an active customer base in excess of 300,000
20. Page Financials

Page Financials
Page Financials is another innovative retail financial institution that offers quick online loans and salary advance to individuals to meet the financial request of its customers. This mobile loan platform takes up to six steps to request for a loan with a daily interest rate of 0.5% which accrues on its Debit card issuance also known as Pledge Finance with 15% monthly loan card.
The company also charges a one-off fee of N1,500 for the card valid for a period of 3 years. However, the Pledge Finance debit card is preloaded with up to N500,000 depending on your net monthly income.
21. Rosabon Finance Quick Loan

Rosabon Finance Quick Loan
Rosabon finance quick loan is a money lending platform that offers the fastest and easiest ways to access a personal loan in Nigeria without documentation or collateral. On Rosabon finance quick loan you can lend up to N70,000 with interest that attracts a sum of N82,915 for 4-month as a repayment plan which is between 4% to 6% per month.
Some of the requirements for getting a quick cash loan from Rosabon finance include being in paid employment, between 21 and 58 years, have a salary account, have a pension account or tax ID, have a valid Proof of Identification and a recent utility bill.
22. SnapCredit

SnapCredit
SnapCredit is a lending mobile platform that gives people the opportunity to acquire a loan in Nigeria with little or no documentation as well as no collateral. With SnapCredit mobile app you don’t need to wait for hours or weeks to lend money, you received loan minutes after the loan application is approved and validated.
What makes SnapCredit money lending platform a simple and fast money loan app in Nigeria is because they subtract an agreed amount from your salary every month and you don’t have to visit the nearest bank monthly to complete this procedure. When it comes to repayment plan on SnapCredit, the interest rates percentage vary according to the amount borrowed.