leading platform for small business loans in nigeria

4. ONE-FI

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.

5. 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.

6. QUICKCHECK

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.
According to the platform, 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.

7. PAYLATER

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.

8. AELLA-CREDIT

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.

9. ZEDVANCE

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.

10. SMEDAN

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, click here to access their online application portal.