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             Top 13 Quick Loans In Nigeria Without Collateral

Today, I want to share with you the top websites in Nigeria that offer quick loans to small businesses and individuals without collateral in Nigeria.

Getting capital for starting up or improving a business is one of the major problems of business in Nigeria. Many dreams had been shattered while many have been delayed too long because of the unavailability of quick loans for small businesses without collateral.

However, with the increase in the use of the internet and mobile devices in Nigeria, the story is changing very fast. There are many online lending platforms giving business owners quick loans to help meet their business and financial obligations.

Fortunately, with the new quick and easy online funding options, business owners can apply for quick online loans without putting up their assets as collateral. Lenders evaluate creditworthiness and ability to pay back within a stipulated time frame and may approve an amount of loan based on that assessment.


Carbon Paylater Loan

Paylater is fast, secure, reliable and works 24/7 and is currently available in Nigeria and Ghana. In all, you can get quick loans of up to ₦1million within 5 minutes without documents or collateral on paylater app and repay over a period of 15 days to 6 months.

Paylater is an easy and entirely online lending platform that provides short-term loans to individuals and small businesses in Nigeria to help cover unexpected expenses or urgent cash needs.

The latest Paylater app offers more than just loans. It also gives you the privilege of investing money which yields an interest of up to 15.5% annually by investing in PayVest, 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.



Renmoney operates under a microfinance bank (MFB) license, the closest to a consumer finance banking license available in Nigeria. The company 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 counting.

Renmoney offers customers unsecured cash loans (i.e. not requiring collateral) of up to NGN4 million for a tenor that ranges from three (3) to nine (9) months for new customers. But, a returning customer enjoys a longer tenor of twelve (12) months. Customers can either be salary earners or self-employed as long as they can provide a verifiable source of income


Aella Credit 

Aella Credit is a building platform that makes it easier for individuals in Africa to gain access to financing. 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 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.


Palmcredit Loan

It is one of the latest apps in Nigeria that provides fast loan without collateral. With PalmCredit, getting a mobile loan is simple. You can apply for your credit limit in minutes, then take as many instant loans as you need without further approval steps. It’s 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.



CreditVille gives you the opportunity to apply for three types of loans: PayDay loan, Business loan and Cab Lease. To learn more about the details, visit CreditVille official website or download their mobile app for easy access.

This mobile credit system guarantees an instant loan for SME owner or verified employees in Nigeria. The highest possible funds amount you can receive is 250,000 Naira and the ultimate lending period is twelve months.


FairMoney Loan

FairMoney Is one of the latest quick Loan App in Nigeria. The loan app provides quick cash for Personal finance, Health emergency, Car repairs, Rent payment and for Buying consumer durable goods. The instant loans like other quick loan apps are not backed by collateral, but instead by your creditworthiness.

Request for a Quick Loan to get an instant decision and funds transferred to your bank account in 5 Minutes. Explore their small business online loan options to finance your business needs, the fund is transferred to your bank account in 5 Minutes.


ALAT Loan App by Wema Bank

Although ALAT Loan is designed to function as a digital bank, now an individual can now apply for a loan without paperwork, no visitation to any physical location and response time between acceptance of offer and loan disbursement is in minutes.

You can borrow as much as N200,000 (Two hundred thousand nairas) without any 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.


C24 Limited

C24 Limited is a microfinance institution that was 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 is similar in service to Zedvance because 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.


Branch Loans

The Branch app lets you apply for credit on the go, and it works 24/7 without collateral and this fast loan is Presently branch loan app is available in Kenya, Tanzania, and Nigeria. In Nigeria, the initial amount of loan allowed to be borrowed is 6,000 Naira with an interest of 1,200 Naira in 30 days

You can complete our application in seconds and receive your loan straight to your account. It’s fast, convenient and reliable. The payment option could also spread out to 4 weekly payments (1,800 Naira per week). To apply, visit their website: branch.com.ng



Kwikmoney formerly kwikcash is an online lending platform for personal and small business loans. Whether you need working capital for your small business or need to handle a family emergency, kwikmoney lets you get an instant loan of up to N500,000 direct to your bank account.

Typically the quick loan tenor is 14-30 days, with an interest rate between 5% and 15%.As you take loans and payback, the system trusts you more, offering you higher amounts each time. No collateral, no documentation, no wahala.



Lidya is an online platform that provides businesses access to finance. The platform offers small and medium-sized businesses with unsecured loans of between $500 and $15,000.

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.”



Zedvance is a consumer finance company committed to providing consumer credit to individuals. You can borrow up to 3 Million Naira in less than 24 hours.

The company specifically provide loans to salary earners but if you are a salary with a side business, you can pick up the deal to finance your business use.



FINT is a loan marketplace matching lender looking for competitive returns with credit-worthy borrowers (individual or business loans) looking for the most attractive interest rates possible.

FINT is the leading loan marketplace in Nigeria. It connects lenders looking for high returns with creditworthy borrowers looking for short-term personal loans or business opportunity loans.

Fint boast of simple, affordable and quick Loans. You can borrow between ₦20,000 – ₦1,000,000 with fixed Term – 3, 6 or 12 months. Payback principal and interest monthly and enjoy low-interest rates (as low as 2% monthly). No collateral required.

With the above review, you can make a choice of which quick loan app you will patronize. However, making a good financial decision is very important to your financial success. Consider what you have been offered properly before you proceed and make sure you will be able to pay back at the stipulated time before taking up a loan.

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