2024 Business Loans Without Collateral In Nigeria to Apply

Listed below are the current 2024 Business Loans Without Collateral In Nigeria to Apply. In reality, there aren’t many loans in Nigeria, which accounts for a sizable percentage of the country’s loan scarcity. In actuality, loans are easily accessible for the country’s businesses. Nevertheless, there are strict requirements and qualifications for these loans. Consequently, the reason they seem unavailable.

Providing collateral for a loan is one of the biggest obstacles that startups must overcome. This is due to the fact that startups are typically not eligible for most commercial loans because they lack any previous assets. Nonetheless, the following list of Nigerian organizations offers Businesses loans without collateral.

2024 Business Loans Without Collateral In Nigeria

The following organizations in Nigeria provide startup business loans without collateral:

  • Smedan

Smedan’s purpose is to finance small and medium-sized businesses, which in turn helps them grow. In addition to keeping an eye on things, they also organize, propose, and explain policy suggestions for companies operating in these industries, which helps them expand.

·       Lydia.co

This is an online lending platform that offers no-collateral startup business loans in the US, Europe, and Nigeria. Lydia thus presents you with a chance to grow your company and make more money. Their loans come with quantities up to millions of dollars and may be obtained in three easy steps.

  • Grofin

This is an organization that offers investment services to companies throughout the Middle East and Africa. In addition, they finance small and medium-sized businesses in a number of countries, including Ghana, Nigeria, Ivory Coast, and South Africa. Grofin provides a maximum of $1.5 million in this scenario.

·       Aella Credit

Aella Credit is a Fintech startup that operates on the go and uses technology to connect with small and medium-sized businesses (SMEs) for loans. They also want to develop products and lead the way in financial inclusion in Nigeria and other West African nations. Their influence is growing every day.

·       Kiakia.co

When making loan offers, Kiakia.co does not take your credit information into account. Rather, they credit-score you using an intricate machine learning and digital forensics system. If approved, you can access large amounts for your business financing. Currently, Kiakia offers loans to millions of people nationwide as well as SMEs.

·       One Fi

One Fi, formerly known as One Credit, is a lending company that provides SMEs with short-term services. Before approving you, though, they run a creditworthiness background check. Their loan has a maximum sum of N200,000 and a tenure of roughly three to six months.

·       Carbon

As a startup, you can apply for financing through Paylater, a fully online lending company that subsequently changed its name to Carbon. The loan has a N500,000 maximum amount and doesn’t require collateral. It’s amazing how easy it is to apply with them, and the money is disbursed within a day or three after your application. Additionally, timely loan repayment enables you to apply for a subsequent loan with a greater maximum amount.

·       Kiwipay

One of the top online money lenders, Kiwipay offers loans to individuals and businesses via their employers. Moreover, they take the loan amount out of your monthly paycheck. Furthermore, Kiwipay is particularly outstanding in that it offers loans up to N2 million.

·       Specta by Sterling Bank

This has become one of the quickly expanding lending platforms that provide people and SMEs with financial services. Owned by Sterling Bank, Specta gives you the ability to get up to N5 million in five minutes. Moreover, corporate and business owners can readily receive and utilize it.

·       Fast Credit

Fast Credit provides you with short-term loans to help your business expand. Notwithstanding the lack of collateral, guarantors must guarantee the loans. In addition, the maximum term for enterprises that meet the requirements for the loan is six months.

·       Branch

Despite the fact that they give startup business loans without any collateral, the branch has a maximum limit of N150,000, which is considerably little. Nonetheless, they provide loans to new businesses and people who need to close immediate gaps in their finances.

·       Zedvance

This is an additional loan-lending organization that does not require security. You can apply for up to N5 million with a maximum 18-month term with Zedvance. It’s amazing how quickly you can finish the entire process and receive credit.


These organizations have greatly facilitated Nigerian nationals’ ability to obtain startup business loans without the need for collateral. You should definitely contact one of them for their services if you plan to launch a business.

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