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10 Websites that give online loans WITHOUT COLLATERALS in Nigeria

You can get loans in Nigeria even without collaterals. There are websites that can give you such loans.

Below is a list of top ten websites where you can get quick loans without collateral to meet your financial obligations and for your business.

Carbon(formerly Paylater)

Carbon is an entirely online lending platform that is very simple to navigate. Carbon provides online loans in the short-term to help you with your financial needs.

You can download their app on Play Store using an android device and access loans 24/7 with a quick short application process. No collateral, guarantors, or any processing fees required.


Fairmoney offers online loans to individuals and small businesses who need money for their urgent needs. Fairmoney has over the years been known to have disbursed loans to over a thousand individuals daily, this helps them reach their financial goals.

Individuals access instant quick loans on Fairmoney where they borrow money online without the worries of collateral, extensive documentation, or physical office visits. You just sit in your homes and get the amount you want.

To get started with Fairmoney, just download their app from Play Store, create an account with them, and receive the money within minutes. You can borrow up to N150,000.


C24 is a financial institution that makes sure retailers get loans for their urgent financial needs. You can borrow money online from C24 with any internet-enabled device and get your cash.

C24 understands the need for quick cash and thus delivers with speed when needed.


Specta was founded by Sterling Bank and can give a loan of up to 5 million Naira.

Specta understands that in life, there are different situations where you will have unexpected needs and expenses that may exceed your income and also savings at a particular time.

For this reason, Specta ensures you get your loan in 5 minutes.


Kiakia is an online money lender where you can borrow up to N200,000 at flexible rates, and also, Kiakia match borrowers with individuals or corporate lenders at mutually agreed rates.

Kiakia’s loan duration is 7 days to a month.


OneFi was established in 2012 to provide consumer loans on a short-term basis. OneFi believes access to loans and quality financial services is a human right.


Lydia is a platform online that provides access to loans for businesses on a small and medium scale. You can access between $500 and $15,000 on Lydia.


Grofin was founded in 2004 and since then has established a wide network of local offices in 15 countries throughout Africa and the Middle East.

Grofin provides loans to Small and Medium Enterprises (SMEs) up to $1.5 million.


Small and Medium Enterprises Development Agency of Nigeria was founded in 2003. SMEDAN was established to promote Small and Medium Enterprises (SMEs) in Nigeria by providing capital for them to run their businesses and also provide training and support on how to run their businesses.


Zedvance offers up to 5 million Naira in loans without collateral to individuals and small scale businesses in their bid to financially empower Nigerians to do more.

Get the Zedvance app from Google Play Store on your android and get as many loans as you would want for your business.

Other websites that give loans in Nigeria

We have other websites where you can borrow money online from without collateral and much hassles:

  • CreditVille
  • ALAT Loan App by Wema Bank
  • Branch Loans App
  • SnapCredit

That is a lot of options! If you have any business or you need a loan for your personal financial needs, you have quite a number of websites to get loans here in Nigeria.

One thing I would like to advise though is to check the website terms and conditions before applying for loans. Also, be sure that they’re legit. Check their reputation and what people say about them.

Understand the challenge of collateral when taking loans

People venture into businesses to make money and eke out a living. Some people have dreams of starting certain businesses but are constrained due to the unavailability of cash, some people already have businesses on a small scale and want to take their businesses to a higher level.

Borrowing money from banks means you should have a valuable property with them, this valuable property is called COLLATERAL.

Since many Nigerians do not own a property they can tender as collateral for loan security, they have their dreams shattered. And most businesses are stuck as small scale businesses when they can be elevated.

But today, this story has changed as there are many online borrowing platforms that offer quick loans to businesses to meet their financial constraints without requiring collateral.

How to get student loans in Nigeria

In this article, I decided to come up with the top websites to borrow money from without collateral. If you are more interested in getting student loans, see our article on how to get student loans in Nigeria.

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