How to Get Loan Without Collateral in Nigeria

by Demi

Looking to get a loan without collateral in Nigeria for your new or existing enterprise?



A loan is a financial means that helps both businesses and individuals to meet financial responsibilities. However, most moneylenders frequently require a form of collateral to stand as security before they give out a loan to ensure its repayments.

Some percentage of people in Nigeria don’t have what to tender as collateral to access a loan. That’s why loans without collateral are becoming very important. Fortunately, entrepreneurs, business owners and individuals can apply for quick online loans without having anything to tender as collateral.

Moreover, the procedures involved in taking quick loans in Nigeria banking institute is quite long and tiresome for any individual that is planning to access a small amount of loan for only a short period. That’s why people and businesses are on the lookout for institutions that give loan without collateral in Nigeria.



Below are the few lending companies and platforms with no collateral/paperwork loans;


GroFin is a specialist, impact-driven SME financier that helps entrepreneurs succeed by providing them with business loans and business assistance (expert advice and continuous guidance) to grow their businesses. They believe that a growing SME sector that creates sustainable jobs is the most powerful driver of social and economic development that truly improves people’s lives.

GroFin offers medium-term loans for businesses with an annual income of the proposed loan between US$100k and US$1.5M for a loan duration of 3-8 years


The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) is a government-backed drive to offers quick and easy business loans to Nigerian micro, SME’s businesses and investors in need of financing for development. The core mission of SWEDAN is to establish a structured and efficient micro, small and medium enterprises sector that will enhance the sustainable economic development of Nigeria.


Lidya is an online platform that provides you with the opportunity to expand your business and generate more income. Lidya provides financing based on the cash flow in your local bank account and without collateral.


Aella Credit is a growing platform that makes it easier for individuals and entrepreneurs in Africa to gain access to funding. Mainly focused on employee lending and empowerment, 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 an established 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 analysing social and demographic factors as well as their debt to income ratio.


Zedvance is a consumer finance company committed to providing credit to individuals in the most efficient and convenient manner. The company provides loans of up to NGN 5 million in less than 24 hours and a flexible repayment period of up to 18 months.


Paylater is an automated lending service focused on increasing access to credit to individuals and small businesses in Africa to help cover unexpected expenses or urgent cash needs.

Loan decisions are provided within 15 seconds and if approved, the applicant receives funds within 5 minutes. 24 hours a day, 7 days a week. you can access 10,000-500,000 Naira loan with no collateral.


KiaKia(from a Nigerian language “Fast Fast”) is a digital money moneylender for Nigeria business owners and entrepreneurs. KiaKia utilizes psychometry, big-data, machine learning and digital forensics for its established credit scoring and credit risk evaluation algorithm to provide direct and scrutinised personal and business loans to millions of individuals and SMEs without credit information.

  • ONE-FI

OneFi also known as One credit is a credit facility company that offers short-term customer loans to credit-worthy individuals with limited access to finance with a repayment cycle between 3 – 6 months, with loan amounts up to N200,000.

  • C24

C24 Limited is a microfinance institution established to create an avenue for people to actualize opportunities around them, by having access to money when they need it. they understand the need for quick cash loans and the necessity of quicker loan processing time. The process of obtaining their online loan has been optimized to help applicants avoid stress compared with other loan companies.


QuickCheck is an online lending platform for individuals and small business owners. QuickCheck uses mobile technology to enable selves and small businesses to gain access to financial credit.

According to the platform, applicants can access quick and stress-free loans of up to 30,000 Naira for a period of either 15 or 30 days without any collateral.


Specta is an automated lending platform that provides up to 5 Million loans to individuals and business owners in one transaction within 5 minutes without collateral, paperwork or visit to any office.

Specta has 2 loan offers, MySpecta which offers individual loan services and Specta4Business which provide quick and accessible loans for corporates and business owners.


Fastcredit is a micro-lending company that offers business loans to micro, small and medium enterprises to support business growth. The loans are backed by guarantors and are for a maximum tenor of 6 months for business owners that meet the criteria.

They provide microcredit to validly employed Nigeria workers on a payroll deductible basis covering both private and public workers via attractive products.



We have all types of business plan including (farming, livestock, hotel, IT, restaurant, bakery, etc)


How To Download Business Plan PDF and Doc (With financial analysis)

Pay the sum of N5000 (Five thousand naira only) to the account detail below:
Bank: GTBank
Name: Oyewole Abidemi (I am putting my name and not our company account so you know I am real and you can trust me, and trace me)
Ac/No: 0238933625
Type: Saving

P.S: We can also tailor the business plan to your name, business size, capital requirements, and more to fit your direct needs. Call or message +234 701 754 2853 for inquiries.

Thereafter, send us your email address through text message to +234 701 754 2853. The text must contain the title of the business plan you want and also your email address. Immediately after the confirmation of your payment, we will send the Business Plan to your email address where you can easily download it.

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