Best Quick Online Loans in Nigeria Without Collateral for 2021 See Update : Current School News

Best Quick Online Loans in Nigeria Without Collateral for 2021 See Update

Filed in Loan by on May 26, 2021

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Online Loans in Nigeria: With technology, former financial services institutions are now experiencing disruption with innovative digital services that are making the process of getting loans in Nigeria more simple and convenient.

Best Quick Online Loans in Nigeria Without Collateral for 2020

Overview of Online Loans in Nigeria

Lack of capital is one of the major problems of doing business in Nigeria. With the new quick and easy online funding options, lenders evaluate creditworthiness and ability to pay back within a stipulated time frame and may approve an amount of loan based on that assessment.

A loan is a financial instrument that helps both businesses and individuals to meet financial obligations. However, most lenders often require a form of collateral to serve as security before they give-out the loan to ensure its repayments.

Are you in need of a quick loan? If yes, read through this article for online loans in Nigeria without collateral. 

Not every individual in Nigeria has what they can tender as collateral to access a loan. This is why loans without collateral are very important. Fortunately today, business owners and individuals can apply for quick online loans without putting up their assets as collateral.

1. 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 provides 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.

2. Lidya

Lidya is an online platform that provides businesses access to finance. The platform offers small and medium-sized businesses with unsecured loans of between $500 and $15,000.

According to the founders, “Lidya uses technology and algorithms to assess the risk before granting the loans, it allows them to offer financial products to these customers at a low cost.”

3. Specta

Specta is an online lending platform that gives you loans of up to 5 Million in one transaction all within 5 minutes! No collateral, no paperwork, and no visit to any office. With Specta, you can take care of urgent personal and business needs anywhere, anytime.

Specta has 2 loan products, MySpecta which offers individual loan services and Specta4Business which provide quick and accessible loans for corporates and business owners.

3. QuickCheck

QuickCheck is a modern lending platform for individuals and small businesses. QuickCheck uses mobile technology to enable individuals and small businesses to 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.

4. 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 was 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 creditworthiness 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.

5. KiaKia

KiaKia is a digital money lender for Nigerian businesses. KiaKia utilizes psychometry, big-data, machine learning, and digital forensics for its proprietary credit scoring and credit risk assessment algorithm to provide direct and peered personal and business loans to millions of individuals and SMEs without credit information.

KiaKia

The name KiaKia was derived from a Nigerian language which means “Fast Fast”. According to them, the solution is very simple and fast, but highly effective and efficient.

6. 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.

7. C24 Limited

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 optimized to help applicants avoid the stress associated with other loan companies.

We believe this information on Best Quick Online Loans in Nigeria Without Collateral for 2020 is helpful to you?  Since it is not everyone that has access to this article, and if you find the article useful, what then is stopping you from sharing it with your friends who are also in need of such information?

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CSN Team.

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