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Quick online loans in Nigeria are a great way to access emergency cash for personal or business use. They bring you just the flexibility you need in time.
We have put together the top 7 online lending platforms in Nigeria for quick access to business loans.
Kiakia.co
KiaKia is a digital money lending platform in Nigeria that gives you access to personal and small business loans. Its interest rate is 3.5% per month and its minimum loan amount is N50,000. Kiakia also allows savers to lend out funds at negotiated interests.
Branch
Branch is a quick, convenient, and reliable way to access credit just when you need it. You can have access to loans from ₦1,000 to ₦200,000 within 24hrs, with a period of 4 to 40 weeks to pay back. Interest ranges from 14% — 28%, with an equivalent monthly interest of 1% — 21%, depending on the selected loan option. Just download the Branch app and get access to loans anywhere in Nigeria.
Lidya.co
Lidya is an online platform that gives businesses access to funding. This platform offers small and medium-sized enterprises unsecured loans of between $500 and $15,000 with an interest rate of 3.5% per month.
Renmoney
Renmoney is a leading fintech company that provides loans to businesses as high as N4 million at an interest rate of 4.9 percent. However, applicants will need to provide a six-month bank statement, utility bill, and a recent passport photo. Their application process takes up to 24 hours to get approved.
QuickCheck
QuickCheck is one of the best Nigerian loan apps. Quickcheck allows you to borrow money instantly straight into your bank account. Registered users can access quick loans of up to 30,000 Naira without any collateral for a duration of either 15 or 30 days.
FairMoney
FairMoney provides short-term loans to help cover sudden expenses, bills, business, etc. It is a licensed loan app that requires your Bank Verification Number and your debit card to obtain a loan (from ₦2,500 to ₦150,000). Their loan interest starts at 5% and grow up to 28%, depending on your borrowing and runs on a duration of 4–26 weeks. Their packages include personal loans, education loans, business loans & more.
Carbon
Carbon provides short-term loans to individuals and small businesses in Nigeria to help cover unexpected expenses or urgent cash needs. Carbon provides up to 500,000 Naira loan without any collateral.
Here’s what you should know before applying for a quick loan online in Nigeria:
- Look out for different online lending platforms and choose the loan with the lowest interest rate while you are also considering the tenure/duration of the loan.
- Find out the requirements needed for applying for a loan, so the loan application process can be hassle-free.
- Make use of a loan calculator to help you estimate payments for the loan and to also predict how the loan is likely to impact you financially later on.
All the Best!!!
