11 Loan Apps to Borrow Money Quick in Nigeria

Money in Niara notes borrowed online in Nigeria

Money in Niara notes borrowed online in Nigeira

Are you a business owner looking for where to borrow money online instantly in Nigeria?

Then, rest assured, you will find this post very useful.

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Apps to Borrow Emergency money in Nigeria

If you have a business operating here in Nigeria, perhaps nothing is as certain as the fact that sooner or later, you would need to inject some funds into your business.

You may have come to the stage where you need to expand your product line, increase your production, embark on huge marketing campaigns, scale your business and grow.

Or maybe you have just started a small business and you can neither bootstrap nor attract angel or capital investors.

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You may even be at a point in your life where you need money for your education, rent or even your, fund capital project or even cater to your health concerns.

In all of these scenarios, one of the most effective available means of getting money quickly for your business may just be the Online Loan Apps to borrow money.

These apps provide fast and quick access to authentic loans without any guarantor, paperwork or collateral.

Basically, you only need your smartphone, internet connection, install the loan app and provide your Bank Verification Number (BVN).

In this post, we will take a look at some instant loan apps to borrow money for your business in Nigeria.

Before applying for loans in with any of these loan apps, please make sure to consider their interest rates, payback period, repayment schedule and their terms and conditions to ensure that their services is satisfactory.

This is because terms, conditions and interest rates vary from one money borrowing app to the other.

Now, let’s get to business.

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11 Apps to borrow money online instantly in Nigeria

  1. Aella Credit
  2. QuickCheck
  3. FairMoney
  4. Alat By Wema
  5. PalmCredit
  6. PayLater
  7. Branch
  8. SnapCredit
  9. KiaKia Loan
  10. PayConnect
  11. Creditville

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The list of loan apps in Nigeria below is in no particular order.

  1. Aella Credit

Aella is one of the top financial technology companies in Nigeria.

They are made of a team of Investment Banking, Corporate Law and Risk Management Gurus.

With Aella Credit App on your mobile phone, you can apply and get instant loans for your education, businesses and other financial needs.

Aella’s scope is beyond Nigeria. They serve customers in other parts of the continent.

They provide micro-merchant loans for employees and for small business based on cash flow.

To get their Aella loan, all that is required from you are a few financial information, how much you want to borrow and how long you want it for.

You then will receive instant feedback on whether or not your loan has been approved.

Aella Loan interest rates are quite competitive with other online money lending apps in Nigeria.

Download Aella App to get an instant loan for your business with affordable interest rates.

  1. QuickCheck

Are you thinking which loan app is the best in Nigeria?

Then you may just want to check out QuickCheck lending app.

QuickCheck is a Nigerian Fintech Startup that aims to help the underserved by providing easy banking services.

With your QuickCheck App, you can get Loans up to ₦30,000 with interest rates as low as 1% per day.

The Quick Check system uses machine learning algorithms to foresee an individual’s behaviour and estimate your applications for credit.

Your loans will be approved in less than 24h!

You can buy airtime and recharge your phone instantly on the QuickCheck app.

Download the QuickCheck App to get an instant online loan in Nigeria.

  1. FairMoney

FairMoney is one of the platforms providing an emergency loan in Nigeria.

FairMoney loan app provides fast cash for your personal finance, rent, health care, car repairs and other important financial needs.

You can also get a quick loan on FairMoney for your small business or to sponsor your education.

You can access loans ranging from ₦2,500 to ₦150,000 with loan term durations of 4 – 26 weeks.

Their monthly interest on loan ranges from 5% – 28% and there are no additional fees for processing your loan or hidden costs.

If you want to know if you can get a small loan for any of the above purposes, check out FairMoney online lending services.

You can download the FairMoney app.

11 Loan Apps to Borrow Money Quick in Nigeria

  1. Alat by Wema Bank

Alat is another new loan Apps in Nigeria. It was launched in 2017 coinciding with the bank’s 72nd anniversary.

Alat loans can be accessed via the web or mobile App.

You can apply for a loan without going through the long and tiring process of visitation to the physical location of a bank, paperwork or looking for a guarantor.

When you apply for a loan with ALAT, your application will be processed A.S.A.P and if successful, your loan will be disbursed in a matter of minutes.

You can borrow to the tune of N200,000 quickly on the app.

Visit their website here to download App

  1. PalmCredit

You can borrow money online instantly up to N100,000 with your PalmCredit virtual credit card.

Getting a quick mobile loan is very simple with PalmCredit. In the comfort of your phones, you can get a loan without any collateral.

Here is all you need to do:

Download Palm Credit App

Once you’ve successfully downloaded and installed PalmCredit on your android device, input your correct phone number i.e. 080**42**90

  • You will receive a confirmation code sent to you
  • Input the code carefully and correctly
  • Give details of your full name and Date of birth
  • Give details of your BVN for clarification

Provide the Bank Account number and name where the money will be sent to.

And voila! You are set to receive your loan.

When you repay your loan on time, you stand a chance of increasing the amount you can borrow.

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Download App here

  1. PayLater

PayLater is one of Nigeria’s best and fast loan platforms in Nigeria.

It is very simple and easy to use.

You can get an instant online loan for your small business, your education or any other emergency financial need in a matter of minutes.

PayLater offers 24hrs loan in Nigeria without any hassle.

You can get a loan from N500,000 to N1m with different interest rates between 5% to 12.6%

If you want to borrow money online instantly in Nigeria, ill’ recommend PayLater. They are one of the fastest mobile loan providers in Nigeria.

To access loans on PayLater, you need to Download App, provide required personal and bank details and then you can request a loan.

You will also be asked to drop some details about your ATM.

Don’t hesitate to provide this information.

All your information is safe with them as they use world-class encryption and security technology to protect your data.

Download App here

  1. Branch

Branch loan is also one of the best and fast loan platforms in Nigeria.

Loans on Branch App are convenient to access and reliable.

Branch gives 24hrs loan in Nigeria without collateral and on the go.

Branch loan App can borrow you up to ₦200,000 on your mobile phone anytime, anywhere.

As you build credit with them, you unlock even larger loan amounts.

But the initial amount of loan you can borrow is N6,000 which should be repaid over a period not more than four weeks.

Interest rates and terms and condition apply all which you will be shown before your loan is processed.

If you agree to those conditions, you can go ahead to request for your loan which will drop in your account under 24hours.

When you pay back your loan as scheduled as at when due, then you can access even higher amount.

Download Branch App here and start enjoying quick loans from the comfort of your mobile phone.

  1. SnapCredit

Are you an employee? Are you thinking how can I  get a quick loan in Nigeria?

Why not check SnapCredit out.

SnapCredit provides instant loan solutions, especially to organization employees.

They collaborate with employers to provide their staff with an online platform to get loans.

SnapCredit platform practically eliminates the long process of getting a loan and gives employees instant 24hrs access to loans at a reasonable interest rate.

Borrowing money instantly on SnapCredit is quite easy:

  • An employee applies for a loan on his or her mobile phone or PC.
  • SnapCrdit conducts real-time verification of employee’s details.
  • Once verified – money is sent to the employee’s bank account instantly.
  • Repayment is done by the employer in the form of monthly deductions from the employee’s salary.
  • Getting your instant online loan in Nigeria cannot be easier than that.

Visit their website here

  1. KiakiaLoan

KiaKia Loan is another online emergency loan provider in Nigeria that disburses quick funds to lenders.

You may want to access quick loan from kiakia for your small business, education, rent or other financial needs when you are cash strapped.

But remember, Kiakia loan will charge you a certain percentage as interest just like all other loan platforms. But their rates are flexible.

Another interesting service that kiakia loan provides is that they help match borrowers with individual or corporate lenders at a rate that is mutually agreed upon.

You can borrow anything from N10,000 and N200,000 for a minimum duration of 7 days and a maximum of 30 days.

If you repay your loan as agreed over a period of time, you will even be able to access much higher amounts at longer tenure and more flexible interest rates.

Visit their website here

  1. PayConnect

PayConnect is another quick online loan app where you can borrow in Nigeria.

PayConnect is a borrowing platform that makes it easy for employees of vetted organizations to have access to Salary Advance instantly on their mobile phone.

Their interest rates are quite competitive and you do not need collateral to get any loans.

If you are applying for a loan with PayConnect for the first time, you can borrow a minimum of N5, 000 and a maximum of N10, 000.

If you repay your loans early, you can increase your loan amount subsequently.

Once you choose the amount you want to borrow and you set up your repayment schedule, you will receive money in your salary bank account instantly.

Note that your employer will have to approve a loan application.

Who is eligible to access PayConnect instant loan?

Visit their website

Here are some eligibility criteria:

  • You must be older than 18 years old
  • You must have a government approved ID card. Either a Drivers’ license, international passport, national ID card, permanent voters’ card)
  • You must have your salary account with a commercial bank in Nigeria
  • You must be an employer of an approved organization
  • You must have a valid ID card of your organization/company
  • You must have received salary in your bank account for at least six months
  • You must submit 3 months statement of account
  • You must possess a debit card that is linked to a salary account.

You can apply for a loan on their website here

  1. Creditville

Creditville works with PayConnect targeting employees who need loan facilities through their employers.

If you are self-employed, you can also access Creditville online loan.

You do not have to visit any physical location before getting a loan.

Creditville Loan is repaid by deducting a certain percentage from an employee’s monthly salary.

Creditville provides emergency online loan quickly in your account within 48hrs after you must have applied application and met the necessary conditions and documentation.

Before applying for Creditville loan, ensure you see their terms and conditions, interest percentage and repayment schedules before applying for a loan.

Creditville is an online moneylender that provides Payroll based consumer loans to eligible individuals through their employer. The amount borrowed is then deducted from your monthly salary.

Creditville Business Loan offers between 100,000.00 to 4,000,000.00 loan for business owners and self-employed individuals. Interest portion is on a reducing balance basis.

You can apply for a loan on their website here


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