Online Loans in Nigeria: Check-out these 10 Lending Companies in 2020

Loan Companies in Nigeria: 2020 Reviews for Newbies

Online Loans in Nigeria

Need an online loans in Nigeria? Check out these websites that offers quick loans online to Nigerian consumers without collateral or documentation.

 Please note:
All these lending companies in Nigeria that are being listed out in this article is solely based on the opinion of

Each one of us needs money at times to take care of wanted/ emergency issues which can not be solved solely by depending on savings or salary. So seeking for an instant loans in such a circumstances will be viewed as a good option.

Why Borrow From These Loan Companies in Nigeria

Here is one of the best reasons you need to borrow from these money lending companies in Nigeria:

1. Fast Loan Disbursement

You can fill out your loan application form and apply for a loan within 5 minutes and your money will be disbursed into your bank account instantly, or within 24hrs.

2. Flexibility

They offer more than one loan repayment channels which provides you with many options to pay back your money.

3. No Collateral/Hidden Charges

All these loans companies in Nigeria listed below offer loans without collateral or documentation. When you apply for a loan and get accepted, loans disbursement takes place instantly without any hidden charges.

4. Great rates

They have the most competitive interest rate in the market which makes them top choice when it comes to consumer lending.

Top 10 Best Websites that offers quick loans in Nigeria without collateral in 2020

1. Renmoney - Building solutions to make financial inclusion count.

Online Loans in Nigeria

Renmoney, previously called Rencredit is a fintech leading loan lending company in Nigeria, operating under a micro-finance banking license in Lagos, Nigeria. Regulated by the central bank of Nigeria (CBN) and insured by the Nigeria deposit insurance co-operation (NDIC).

Renmoney offers loans up to N6million without collateral to individuals through their website, contact center, branches and gent network. Which can be repaid in 2 - 12 months time. All the loan process and disbursement takes place within 5 minutes.

Aside from lending, they has two investment products: Fixed Deposit - A tenured investment with up to 21% on a minimum of N200,000 deposit fixed for 30 days - 360 days and Target Savings - A high yield savings account with 10%p.a. interest on a minimum of N20,000 monthly savings.

For more information on Renmoney click here.

2. Fairmoney - Instant loan payment

Online Loans in Nigeria

Fairmoney is a license online lending company in Lagos, Nigeria that provides quick and instant loans up to N500,000 to individuals through its app which can be downloaded and installed via Google play store.

They are one of the, if not the best loan platforms in the country that offers instant loans in Nigeria and aside from lending, they also offers bill payments and you can earn 10% discount when you recharge airtime and data, or, renew your cable TV subscriptions through the fairmoney app.

Click here for more information on fairmoney loan.

3. SMEDAN - Techtink solutions

Online Loans in Nigeria

SMEDAN which stand for - small and medium enterprises development agency of Nigeria. is a government-backed initiative that offers instant loans in Nigeria up to N5million without collateral to Nigerian Small and Medium Enterprise (SMEs) businesses in need of funds and repay in 4 months time.

Although SMEDAN does not necessarily provide the loan on it's own. While they occasionally disburse loans themselves, they only act as the middle man between Micro, Small and Medium Enterprise (MSMEs) and loan provider's.

Aside funding, they also provide business owners with free training and support for smooth running of their business. This move was initiated by the need to make loans products easily accessible to entrepreneurs and investor's.

Click here for more information on SMEDAN.

4. Kiakia Loan - Swift loan, Smart lending

Online Loans in Nigeria

Kiakia is a business that specializes in money lending through its website. Kiakia is authorized and regulated by the money lenders act cap 52. They are registered trademark of kiakia bits ltd that offers quick, instant and emergency loans up to N200,000 to individuals and repay on your next payday, or, in 30 days time.

Kiakia make use of a virtual agent who paraded himself as Mr.K which guide you through the process of getting loan upon visiting the site and also to perform other task such as: creating of account; knowing your credit score; your interest rate and repayment schedule etc.

Click here for more information on kiakia loan in Nigeria.

5. Branch - Personal finance loans

Online Loans in Nigeria

Branch is one of the best online loan lending platforms headquartered in Lagos, Nigeria. Branch makes it easy for you to access loans within seconds through it's loan app or via it's website anytime, anywhere. You can apply and borrow up to N200,000 instantly without collateral with a maximum repayment tenor of 15 months term.

Branch makes getting personal loan in Nigeria much easier by using the data on your phone including your SMS history to verify your identity and automatically make lending decisions. The encrpt the data you choose to share with them and protect your privacy which can never be revealed to any third party.

For more information on Branch, click here.

6. C24 - Quick loans within a seconds

Online Loans in Nigeria

C24 is a financial institution which provides retail loans up to N5million without collateral for consumer's in need of quick financial solutions. The company is focused on delivering services that can be accessed online, from any internet enabled device anywhere within Lagos, Nigeria.

C24 offers flexible interest rate and a repayment tenure of 12 months term. Making them to be among the best loan lenders in Nigeria that offers loans via it's website.

For more information on C24 loan Click here.

7. Migo (Kwikmoney) - Instant Loans in Nigeria

Online Loans in Nigeria

Migo formerly kwikmoney or kwikcash is a cloud based platform that enables companies to offer instant loans to  their customers, augmenting traditional bank and payment card infrastructure through its website.

Migo is available for all individuals, salary earners or small scale business owners who are in urgently need of a loan either to help bolster their business, or for other personal issues such as; medical issues, traveling, wedding, family issues and so on. You can apply for migo loans within 5 minutes and get up to N500,000 with a maximum repayment tenor of 30 days.

Companies like banks, telecommunication operators and merchants integrate Migo in their apps and migo underwrites customers to provide them with a digital account and credit line. The customers can use this credit line to make purchases from a merchants or withdraw cash without the need for point-of-sale hardware or plastic cards.

Click here for more information on Migo loans.

8. Sokoloan - Fast loan, quick online cash in Nigeria

Online Loans in Nigeria

Soko lending company, also known as sokoloan is a microfinance institution  based in Lagos, Nigeria. They provides short time loan up to N100,000 without collateral to low income entrepreneurs, Grassroots employees of SMEs, women with entrepreneurial needs, students, traders and small scale farmers, shopper's with consumer needs, to help cover unexpected expenses or urgent cash needs.

You can apply for a sokoloan loan 24 hours a day, 7 days a week with their quick application process that let's you know your status within minutes of applying for loans. All loan process can be done upon downloading and installing the sokoloan app via Google play store in Nigeria.

For more information on sokoloan click here.

9. PalmCredit - Instant loan app in Nigeria

Online Loans in Nigeria

Palmcredit is owned by Transsnet Financial Ltd and operate in Nigeria with better plan to expand to other countries in Africa.

They offer a short term loan up to N100,000 without collateral to individuals/ or, small scale businessmen who are urgently in need of capital either for personal needs or for business purposes and they have a chance to repay in 360 days time.

All loan application in Nigeria can only be accessed through the Palmcredit app which can be downloaded and installed from Google play store.

To know more about palmcredit loan click here.

10. 9ja cash - Quick loan app, get instant money anytime

Online Loans in Nigeria

9ja cash loan provides an online loans in Nigeria up to N300,000 with no collateral, to individuals, salary earners, or small scale business owners through it's App.

Each one of us needs money at times to carter for our needs which could not be met solely by depending on savings. So seeking for loans in such difficult moment will be a perfect idea and 9ja cash quick loan app is right their for you.

They make getting a personal loan as easy as ABC by using the data on your phone including your SMS history to verify your identity and create a credit score. They encrypt the data you choose to share with them and protect your information.

Click here to know more about 9ja cash loan app.


Now that you knows all the 10 websites that offers instant loans in Nigeria, feel free to borrow fund's anytime, any day from any of them.