Top 10 Online Lending Platforms For Business Loan In Nigeria

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Not every startup entrepreneur in Nigeria has what he or she can tender as collateral to access a loan. If you fall within this category you should consider these online lending platforms.

With the increasingly demand of more helping hands in the financial industry, many have taken to this great opportunity to establish themselves as online loan agents.

Most often, startup entrepreneurs are faced with the problem of raising finance. When all other friendly avenues; family and friends must have been exhausted, they find themselves going through a rigorous bank processes to get loan to scale their businesses. Sometimes, this process may prove abortive.

I will be exposing you to few online lending platforms where you could get fast loan, without having to go through the bank rigorous processes. And the better part of these online lending platforms is that you’re not required to provide any form of collateral or guarantors as the traditional bank do ask.

Here are the online lending platforms in Nigeria where you can access quick loan without collateral.


GroFin provides Small and Medium Enterprise (SME) finance/business loans across Africa & the Middle East. If you have investible numbers and you looking to expand your business, then GroFin is your best short.
With GroFin, businesses can access business loans between US$100,000 and US$1.5 million. If you think your business ticks the required checklist, then you can submit your online application here.


QuickCheck is a modern lending platform for individuals and small businesses. QuickCheck uses mobile technology to enable individuals and small businesses gain access to financial credit.

With QuickCheck, users can access quick and hassle free loans of up to 30,000 Naira without any collateral for a duration of either 15 or 30 days.


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


Lidya uses technology and algorithms to assess the risk before granting the loans, according to the founder, it allows them to offer financial products to these customers at a low cost.


Formerly known as One Credit, OneFi is a credit facility company that offers short-term consumer loans to credit-worthy individuals with limited access to finance.

One-Fi loan repayment cycle is typically between 3 – 12 months, with loan amounts ranging from N40,000 – N2 million. You can apply here.


KiaKia is a digital money lender for Nigerian businesses. KiaKia utilises 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”. The solution is very simple and fast, but highly effective and efficient.

6. C24

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 cash loans when they need it.

C24 understands the need for quick cash loans and the necessity of quicker loan processing time. Their online loan process has been optimised to help applicants avoid the stress associated with other loan companies.


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.

With Paylater, you can access up to 500,000 Naira loan with no collateral. Once your application is approved, funds are typically received within 1 – 3 business days. Making on-time repayments can grant you access to higher credit limits for your next loan.


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.


Last on the list is SMEDAN, a government-backed initiative to offers quick and easy business loans to Nigerian SME’s businesses in need of financing. The core mission of the organisation is to promote entrepreneurship among Nigerians and also provide capital to start the business.

Aside funding, SMEDAN also provide business owners with hands-on training and support to help them run their business. If you would like to apply, go check it out


Aella Credit is building platforms that make it easier for individuals in Africa to gain access to financing. Mainly focused on employee lending and empowerment, the company has 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 credit worthiness 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.


ESY Media isn’t a loan agent and we are not in any way related or linked to any of these platforms.

Therefore, it is advisable to carefully study their Terms & Conditions (T&C) before making an application.

Finally, whenever the issue of loan comes to play, you should always consider the interest rate and payback period. As a startup entrepreneur, you will not want to go in for loans with very short payback period except you are very sure to make profits to cater for the loan in no distance time.

We hope you find this post, 10 online lending platforms in Nigeria helpful.


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