Top 40 Private Money Lenders in Nigeria

Private Money Lenders In Nigeria

We put together a massive list of the top 40 private money lenders in Nigeria that gives loan to businesses and individuals online and via other remote facilities. You can use any of these financial credit institutions to get funds to meet your financial needs.

List Of loan Companies and Private lenders in Nigeria

In Nigeria, not everyone has what they can give to access the loan as collateral. Therefore, collateral-free loans are now on the increase in Nigeria. Luckily today, there are private lenders who are ready to offer loans and credits to business owners and individuals who may want to apply for quick online loans without collateral.

1. AB Microfinance Bank

AB Microfinance bank provides loans for businesses, eligible applicants can get up to N20 million loan from the microfinance bank. They do not offer personal loans, their loans are strictly reserved for business purposes.

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2. Access Bank

Access Bank has a loan program called ‘Payday Loan’, it is made for individuals in paid employment. Applicants must have an account with Access Bank, a valid ID, and they are required to complete a guarantor form which must be duly signed by their employer.

3. Aella Credit

This loan company is a good option for salary earners in need of quick loans. No paperwork needed, all that is required for applicants are the Aella Credit mobile app and BVN.

4. ALAT by Wema

Alat by Wema is Nigeria’s first digital bank, it was introduced in 2017 to provide loans for individuals as well as SMEs. Transactions and applications are done in the app and no paperwork is needed.

5. Branch Loan

This credit facility provides all loans for multiple purposes. Branch is an online loan company, therefore, the loan application and payment is done online. The more you collect loans and repay, the more money you are entitled to receive on your next loan request.

6. Carbon

Carbon is a loan organization in Nigeria where you get loans within N500,000 to N1 million at an interest rate of 5 to 12.6%. The loan application is approved within 3 working days and the money is paid to the account of the borrower.

7. C24 Limited

C24 is an online loan provider that offers short-term loans to people in need of quick cash. The loan amount varies from N40,000 to N1 million. They have a fast loan approval process but loan applications are restricted to people in Lagos.

8. Credit Direct

This loan company is entirely based online, however, they provide loan to eligible applicants through their employer. The loan amount ranges from N100,000 to N2.5 million and the loan tenor is from 3 to 6 months.

9. CreditVille

Although Creditville is an asset management company, it has a private loan service which provides loan strictly in the areas of Capital Markets, Consumer Finance and Real Estate.

10. Development Bank of Nigeria

The Development Bank of Nigeria was created by the Federal Government of Nigeria to provide business loans to entrepreneurs. It offers low-interest rates as well, the only problem is that the banks that are made to provide loans on this platform aren’t effective in discharging their duties.

11. EasyLoan

Easyloan is an online loan company that gives you a quick loan in Nigeria. Typically, they provide loans for you without stress and you can receive your loan within 24 hours. Also, they provide as much as N1,000,000 with a low-interest rate of 1%.

12. Eazzicash

EazziCash is a relatively new online loan company in Nigeria. They provide business loans as high as N5 million for SMEs in Nigeria. You can apply for their loan offer through the mobile app.

13. FairMoney

Fairmoney is a lending company that provides all kinds of loans including business loans, education loan, personal loans etc. They have an app where you can apply and receive your loan.

14. Fast Credit

Entrepreneurs and business owners can acquire loans for their businesses from this company. The minimum amount you can get is N100,000 and the maximum loan tenor is 6 months.

First Bank Loan Code: Apply for FirstAdvance loan, Requirements, Interest Rate, Details

15. First City Monument Bank

FCMB launched ‘FastCash’, an online loan facility where you can get access to loans without collateral. Surprisingly, they provide up to N100,000 without collateral, however, applicants must be account holders of FCMB.

16. FINT

Fint is the first peer-to-peer loan community in Nigeria. They provide loans to people who need money urgently.

17. Grofin

Grofin is a good alternative to get business loans at a cheap interest rate. They support start-ups and growing businesses in Africa and the Middle East.

18. Guarantee Trust Bank Plc

GTBank launched the Quick Credit loan program for business owners and entrepreneurs.  If you seek an urgent cash, you can use the platform to get access to funds for your upkeep.

19. Hasal Microfinance Bank

This microfinance bank is licensed by the CBN to provide microloans and SME loans to individuals and businesses. Applicants can get loans of N1,000,000 with an interest rate of 7% for a tenor of 12 months.

20. Ibile Microfinance Bank

Ibile Microfinance Bank is recognized by the Central Bank of Nigeria. They provide loans for various purposes. Although they provide loans as high as N1 million for business owners, their loan conditions are strict as applicants must be in Lagos, do a lot of paperwork and bring have guarantors.

21. KiaKia

KiaKia is renowned for offering short-term instant loans to individuals and SMEs without collateral. The company is yet to have a mobile app but they have a website where you can visit to apply for a loan.

22. Lidya

Lidya is an online loan provider in Nigeria, they offer unsecured loans to businesses between N180,000 to N5 million.

23. Lmoney

Lmoney is a loan company owned by Lubeck Capital Ltd. It provides instant loans for individuals in Nigeria but focuses on consumer credit and salary advance loans.

24. Microcred Microfinance Bank

Microcred is a microfinance bank in Nigeria, they are licensed by the Central Bank of Nigeria to provide loans to people including students, traders and entrepreneurs. However, their loans are restricted to people in Lagos.

25. Migo

Migo formerly known as Kwikmoney is a fintech company that gives loans without collateral. The loan amount ranges from N10,000 to N200,000 with an annual interest rate of 10%.

26. Okash

Okash is a loan company launched by Opay, they offer loans to Nigerians through the Opay app.  Presently, the company is available in Nigeria and Kenya and they plan to disburse loans at cheap interest rates.

27. One-Fi

One-Fi allows creditworthy individuals and businesses to get loans up to N200,000 for a tenor of three to six months.

28. Page Financials

This loan company provides a debit card called ‘Pledge Finance’ for its clients. They give personal loans to individuals and also offer salary advance loans to employees.

29. PalmCredit

This is an online loan outlet that offers loans for personal and business use. You can get loans within N10,000 to N100,000 for your financial needs.

30. PettyCash

Pettycash is a loan company that gives loans in little amounts. They do not give out huge loans but issue loans of little amounts.

31. Pennylender

This is an online loan company that offers loans strictly to salary earners, employees and staffs of companies. The loan is deducted from the monthly salary of the borrower. The loan limit ranges from N10,000 to N500,000.

32. QuickCheck

Anyone with an internet-enabled device can get a loan from Quickcheck. The company provides loans up to N1,500 to N500,000for individuals and businesses.

33. Renmoney

RenMoney MFB renders quick loans without collateral. However, applicants may be requested to submit some documents such as credit report, valid ID and proof of monthly income.

34. Rosabon Financial Services

Rosabon Ltd is a quick loan provider where you get loans with an interest rate of 4% to 6 %. Also, the maximum loan tenor is four months.


SMEDAN is a loan scheme in Nigeria that was launched to promote the spirit of entrepreneurship and support businesses with financial aid.

36. SnapCredit

Snapcredit allows salary earners to get access to loans at decent rates. As an online loan company, they allow you to get access to loans at anywhere and anytime.

37. SokoLoan

Sokoloan is a lending platform for individuals, entrepreneurs and low-income earners in Nigeria.  You can get access to quick loans in 24 hours without collateral through their mobile app platform.

38. Specta

This loan company was created in partnership with Sterling Bank Plc to provide loans as high as N5 million without documentation or collateral.

39. Stanbic IBTC Bank

Stanbic IBTC Bank Business loan can help you achieve the goals of your business. They provide funding to business owners with a repayment period of one to five years.

40. Zedvance

Lastly, Zedvance provides finances for those in need of loans. It has no fixed interest rate, rather, the interest rate depends on the credit risk and a host of other factors. They provide as much as N3 million with a tenor of 3 to 12 months.

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