Getting access and obtaining quick cash from instant loan organizations in Nigeria in 2022 is no longer a difficult or tedious affair as it use to be. Time has changed and the internet has simplified the entire loan process.
If you are a small or medium business (SME) owner and need extra funds to invest into your business, or you are an individual that requires emergency cash borrowing from top best instant loan organizations in Nigeria, then you got to exactly where you should be.
Today QUICK LOAN ARENA reports on the top 15 best instant loan organizations you can find in Nigeria without collateral and with little or no documents and in most cases without needing physical presence.
According to the Nigeria Bureau of Statistics, (NBS), small and medium scale enterprises (SMEs) in Nigeria have contributed about 48% of the national GDP in the last five years, account for 96% of businesses and 84% of employment. It’s therefore important we analyse instant loan organizations in Nigeria without collateral or documents. So interested borrowers know how and where to patronize.
List Of Top 15 Best Instant Loan Organizations In Nigeria 2022
The following is a list of QUICK LOAN ARENA top 15 Best Instant loan organizations in Nigeria for 2022. Apart from being specially tailored for small businesses, salary earners and other individual borrowers, their lending processes are quick and seamless, they provide instant cash, and they do not require collateral or any major documentation. Neither do they mostly require physical visit to their office.
- Baobab Loans
- Stanbic IBTC
- Aella Credit
- Sterling Specta
- Smart Business Loan (SBL)
1. Baobab Loans
Baobab Microfinance Bank is our 1st pick on the list of instant loan organizations in Nigeria for 2022. It gives out loans to individuals and business owners to enable them grow and expand their businessed. They have different categories of easily accessible instant loans.
The loan organization claims it can make credit decision and disbursement with in 72 hours if all requirement are met and fulfilled. Baobab gives out loan between N20,000 to N50 million repayable in 1 to 24 month with minimum administrative procedures.
Baobab minimum loan amount is N20,000 and a Maximum amount of N50,000,000. Both depend on the borrower’s repayment capacity assessed based on verifiable business inventory and other criteria.
To apply for loan from Baobab loan organization, CLICK HERE.
Lidya is a USA holding financial institution and our 2nd pick on the list of instant loan organizations in Nigeria for 2022. Lidya claims to grant instant credit between N50,000 to N30m to small businesses in 24 hours.
With Lidya SME Loan:
- Businesses can obtain between N50,000 to N30,000,000 million in working capital.
- All applications are online or via official mobile phone.
- No colateral or physical documentation required
- You can get decision in 24 hours.
Lidya’s fintech platform, according to forbes.com lets small and medium-sized businesses (SMEs) register online for loans from $500 and get that credit within 24 hours. This process helps SMEs build a credit history for the first time.
To Apply from Lidya Loan Organization, CLICK HERE.
3. Stanbic IBTC
Stanbic IBTC is the 3rd pick on the list of top 15 best instant loan organizations in Nigeria for 2022, without collateral and with minimal documentation. It has tailored made lending facility for small businesses in Nigeria for expanding their productive capacity and meeting working capital. The bank says its loan scheme takes 24-Hour process for eligible customers.
To Apply, Simply FILL the form in THIS LINK and the bank will contact you.
Branch is one of the best instant loan organizations in Nigeria for instant cash. It is a financial lending app that makes it easy for customers and borrowers to get quick cash loan up to ₦500,000, to transfer money for free, and enjoy investment yields of 20% per annum.
This lending platform makes our 4th pick on our list of reputable instant loan organizations in Nigeria. Unlike other lenders, they don’t make you jump through hoops or fill out paperwork. Simply apply through the Branch app and get approved in under 24 hours.
Branch don’t charge late fees or rollover fees, nor put restrictions on how you spend your money, and our customer support team is available 24/7. If you ever needed loan organizations in Nigeria for instant cash that are reliable, this is one of your best picks.
Requirements are simple – all you need to apply is your phone number or Facebook account, bank verification number (BVN) and bank account number. They will also request access to the data on your phone in order to build your credit score.
To Apply for a Loan from Branch, CLICK HERE
Carbon, formerly known as Paylater, is our 5th pick on the list of instant loan organizations in Nigeria.
Digital loan from Carbon do not require collateral or guarantors. At your first try, you may not be able to access big cash, you start by borrowing small, and paying back as at when due, then you can have access to bigger funds.
The loan app platform is available 24/7. You can apply for instant cash on weekends and holidays and get a quick loan.
To download the app on Google Play Store CLICK HERE.
To download the app on Apple Store for iOS devices, CLICK HERE.
FairMoney is our 6th pick on our list of reputable instant loan organizations in Nigeria for quick cash borrowings.
Loan amounts range between ₦1,500 to ₦1,000,000 with repayment periods from 61 days to 18 months at monthly interest rates that range from 2.5% to 30% (APRs from 30% to 260%)
You can download the FairMoney app on Google Play Store and apply for your loan by clicking here.
Do you provide Retail and Professional services? Are you a trader of merchandise such as Electronics, Computing, Phones, Fashion and Apparel, Household Goods among others? If you are in these categories and in need of business financing from reputable instant loan organizations in Nigeria without collateral, to increase your productive capacity and sustain your working capital, then Lendigo is a good choice.
This is because Lendigo offers business loans from N300,000 – N10,000,000 without collateral.
You can easily apply for loans on the Lendigo organization App at a very low interest rate, and get it credited straight into your account, even if your business is not yet registered.
To access their loan offers, first register on their platform and fill their form, by clicking here.
Zedvance, one of the top instant loan organizations in Nigeria for quick cash offers loan packages that cater to all your financial needs regardless of what they may be. The company claims an eligible individual or small business can get up to N5million quick loan in 5 hours.
It’s the 8th on our list of instant loan organizations in Nigeria without collateral. Zedvance claims if you have a full-time job and wish to start a side business, you can borrow up to N5 million and repay it over a period of 18 months. No hidden charges.” With Zedvance Instant Loan, you have the choice to a flexible mode of payment almost at the point of need. Depending on who you bank with, you could have the funds in your account within the hour.
To apply for Zedvance loan, you have to, sign up first.
GroFin, a specialist, impact-driven small and medium scale businesses financier, is the 9th pick on our list of loan organizations in Nigeria without collateral. The platform helps entrepreneurs succeed by providing them with small business loans and business support to grow their businesses.
GroFin believes that a growing the small business SME sector which creates sustainable jobs is the most powerful driver of social and economic development that truly improves people’s lives. Headquartered in Mauritius, GroFin offers financing and support to SMEs in 14 countries in Africa and the Middle East. It’s supported by 34 international finance institutions, development organisations, and private funders who have committed nearly $540 million in capital to the funds. Since its inception in 2004, GroFin has invested in 761 SMEs and sustained nearly 84,500 jobs.
STEP 01 – Pre-qualification Assessment
STEP 02 – Application Form
STEP 03 – Documents Check-up
STEP 04 – Approval
STEP 05 – Disbursement
10. Aella Credit
Aella Credit is one of the leading instant loan organizations in Nigeria simplifing and opening up financial access for all in emerging markets by leveraging technology and widespread mobile adoption for borrowers. The mission statement of the credit company is to help customers build financial independence by providing access to simple products; quick loans, instant cash, investment opportunities and bill payments.
How Aella Credit Loan App Works
- 1. Download Aella app
- 2. Create your account
- 3. Update your profile
- 4. Check Eligibility
- 5. Apply for loan
- 6. Receive funds in your bank account
Aella Credit is the 10th on our list of instant loan organizations in Nigeria for quick cash lending.
You can download Aella Credit app on Google Play Store by clicking here.
You can download Aella app on App Store by clicking here.
Xcrosscash is an emerging lending platform and arguably one of the reputable instant loan organizations in Nigeria for quick cash borrowings. The lender lets activate your credit limit and withdraw cash for urgent needs. And you have chance to level up your credit limit by different ways, which means enjoy higher limit, lower interest, more flexible tenor by using it.
To Apply Loan from Xcrosscash Loan organization, only three steps are required:
- – register.
- activate your credit limit in minutes
- withdraw cash to your bank account
- You have chance to raise your limit by taking some relaxed activities or system limit up, just keep good repayment record.
• We are available 24/7 to assist you with your request
• Service Email: firstname.lastname@example.org
• Our Office Address: 50c Sauket St, Ikeja GRA, Ikeja, Lagos, Nigeria
You can download the Xcrosscash loan app on Google Play Store by clicking here
12. Sterling Specta
Specta is our 12th pick on our list of loan organizations in Nigeria without collateral. It is an online lending platform that claims to give loans of up to 5 Million in one transaction all within 5 minutes! According to the organization, you don’t need any collateral, no paperwork, no guarantors and no visit to any office. Digital lending from Specta are available to take care of urgent personal and business needs.
Specta claims that once application is complete, scoring is instant, and disbursement can be done in less than 5 Minutes. Specta is opened to everyone irrespective of occupation and bank.
Specta has different packages but the two relevant to this article are:
- Non-Salaried Individuals – You can access a loan if you are self-employed, a business owner, a professional, a trader etc., with accounts in any other bank or with Sterling Bank.
- Specta4Business – Boost sales with Specta by signing up to start receiving payments from customers with Specta spending limits. You can also get up to N2M to start or grow your business.
To get more information and apply for Sterling Specta loan, CLICK HERE.
13. Smart Business Loan (SBL)
Smart Business Loan (SBL), one of the top instant loan organizations in Nigeria is a product of Standard Chartered Bank and it provides you access to credit of up to N20million for your business loan needs without collateral in Nigeria.
- No Collateral Required
- Available to both Existing and New Clients (no waiting period)
- The repayment plan can be structured to suit your business and flexible for up to 2 years
- Easy access to the loan through our digital application forms and automated repayment process.
- If you need additional financing during your loan tenor, we can offer you a top up after 12 months if regular repayments are made.
To apply for Smart Business Loan, CLICK HERE.
Starcredits is one of the instant loan organizations in Nigeria that provides a free loan search, helping you identify the best loans and interest rates available in your chosen category. The platform does not directly give out loa but gives you access to different loan options from their partners.
The platform provides credit score to enable you to access a greater variety of loan options at preferable interest rates. Their credit scoring facilities generate estimations of risk for borrowers who don’t have an extensive credit history.
They feature banks such as FCMB, UBA, Wema Bank, First Bank and others.
To learn more about their loan features, click here.
Umba is the 15th and last on our list of instant loan organizations in Nigeria for quick cash loans and it’s hosted on Google Play Store. The lender prides itself as the leading digital bank in Africa. The app allows users to apply, drawdown and repay loans directly from their smartphone or desktop computer.
Once an individual is verified, it makes lending decisions based on an assigned risk rating.
IT’S EASY TO GET STARTED
Create your account
Apply in seconds
Receive an Umba Loan
Increase your loan limit every time you repay a loan on time
You can download the Umba app on Google Play Store by clicking here
Frequently Asked Questions (FAQs)
1. Which is the most reliable loan app in Nigeria?
Carbon. Carbon is our first in the list of the 5 best digital lending apps in Nigeria. The loan platform claims to give up to N1m unsecured credit. Carbon, formerly known as Paylater, gives instant loans to its customers and you do not require any collateral, guarantor or documentation to access its loans.
At your first try, you may not be able to access big funds, you start by borrowing small, and paying back as at when due, then you can have to bigger funds. The loan platform is available 24/7. You can apply on weekends and holidays and get instant access to loan credited to your bank account.
2. Is Palmcredit approved by CBN?
Palmcredit is owned and managed by Newedge Finance Limited (RC No: 1585793) and it is fully licensed by the Central Bank of Nigeria (CBN) to operate as a finance company in Nigeria. Palmcredit is CBN-approved.
3. Which app gives loan faster?
QuickCredit. QuickCredit, our second in the list of the 5 best digital lending apps in Nigeria and it gives loan up to N100,000 instantly and fast with no paperwork.
QuickCredit is a simple, technologically deployed digital lending app in Nigeria that provides micro loans for short- terms duration to help meet and cover unexpected emergency expenses and urgent cash needs.
With QuickCredit, getting loans is a simplified process and you can apply for up to ₦100,000 with loan tenors of up to 90days and have your money sent straight to your bank account in minutes.
QuickCredit super-fast loan solution comes with no paperwork and no delay to meet your urgent financial needs within 24 hours.
4. Where can I borrow money urgently in Nigeria?
FairMoney is the third in our list of 5 best digital lending apps in Nigeria for quick, seamless instant loans. Its procedures and excellent customer service are of great benefits.
This platform gives loans ranging between ₦1,500 to ₦1,000,000 with repayment periods from 61 days to 18 months at monthly interest rates that range from 2.5% to 30% (APRs from 30% to 260%)
5. Where can I borrow money immediately?
Branch loan app. This digital lender which is the fourth position in our list of 5 best digital lending apps in Nigeria makes it easy for people in Nigeria to get quick and instant access to loan immediately up to ₦500,000, and to transfer money for free, and enjoy investment yields of 20% per annum.
Do You Need Reputable And Reliable Loan Apps For Quick And Emergency Cash?
In need of an instant loan or an emergency cash loan in Nigeria? You can apply through any of the top loan apps in Nigeria and get funded under a few hours, a few more hours without collateral or document needed of our list of reputable loan apps in Nigeria.
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