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Business loans

Comparing 14 offers. Updated 21 Apr 2026.

Best offers – Business loans 2026

C24

Online loans up to ₦5,000,000 with fast approval in 5 minutes.

₦50K – ₦5.0M Interest from 16.00% Approval: 5 minutes
★★★★☆ 4.0
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KiaKia

Quick online loans up to ₦200,000 with funds in your account within 1 hour.

₦20K – ₦200K Interest from 5.00% Approval: 1 hour
★★★★☆ 4.0
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PennyLender

Quick online loans up to ₦5,000,000 with approval in 2 hours.

₦10K – ₦5.0M Interest from 4.00% Approval: 2 hours
★★★★★ 5.0
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GTBank

GTBank personal loans from ₦500,000 to ₦5,000,000 at 1.33% monthly.

₦500K – ₦5.0M Interest from 1.33% Approval: 24 hours
★★★★★ 5.0
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Sterling Bank

Sterling Bank loans from ₦10,000 to ₦5,000,000 with up to 60 months repayment.

₦10K – ₦5.0M Interest from 5.00% Approval: 24 hours
★★★★☆ 4.0
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Zedvance

Zedvance consumer loans up to ₦5,000,000 without collateral.

₦1 – ₦5.0M Interest from 3.50% Approval: 24 hours
★★★★☆ 4.0
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Renmoney

Personal and business loans up to ₦6,000,000 with 24-hour disbursement.

₦100K – ₦6.0M Interest from 2.98% Approval: 24 hours
★★★★☆ 4.0
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LAPO Microfinance Group

LAPO microfinance loans from ₦30,000 to ₦150,000 for underserved communities.

₦30K – ₦150K Interest from 0.00% Approval: 48 hours
★★★★☆ 3.5
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NIRSAL Microfinance Bank

NIRSAL government-backed loans from ₦1,000,000 to ₦100,000,000 at 9% annually.

₦1.0M – ₦100.0M Interest from 9.00% Approval: 5 business days
★★★★☆ 3.5
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Bank of Agriculture

Bank of Agriculture development loans up to ₦50,000,000 at 14% annually.

₦250K – ₦50.0M Interest from 14.00% Approval: 5 business days
★★★★☆ 3.5
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Bank of Industry

Bank of Industry development loans up to ₦50,000,000 at 10% annually.

₦1.0M – ₦50.0M Interest from 10.00% Approval: 5 business days
★★★★☆ 4.0
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Lidya

Lidya business loans up to ₦2,000,000 for SMEs at 4% monthly.

₦100K – ₦2.0M Interest from 4.00% Approval: 48 hours
★★★★☆ 4.0
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Baobab

Baobab microfinance loans up to ₦10,000,000 for businesses.

₦20K – ₦10.0M Interest from 28.00% Approval: 3 business days
★★★★☆ 3.5
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Lendigo

Lendigo working capital loans for SMEs up to ₦5,000,000.

₦300K – ₦5.0M Interest from 2.00% Approval: 48 hours
★★★★☆ 4.0
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The goal of every business is profitability, but there are times when the financial atmosphere around a business may not be favourable. In place of giving up on your business due to financial issues, taking a loan could help solve the problem and give life to your business.

Online sources of business loans have made financing much easier — technology assesses risk and calculates rates within approximately 15 minutes, often without requiring physical office visits or extensive documentation.

General Requirements for Online Business Loans

For individuals:

  • Bank Verification Number (BVN)
  • Passport photograph
  • Address
  • Salary account, pension account or tax ID
  • Employment letter

For SMEs/Business:

  • A copy of passport photograph
  • A means of identification (driver's license, international passport, national passport)
  • Last six-month bank statement of account
  • Certificate of incorporation
  • Memorandum of association
  • Post-dated NUBAN cheques from the client
  • A suitable guarantor (employment letter, undated NUBAN cheque, staff ID, guarantor form)

Some of the reliable money lending platforms available online do not request collateral even for high-volume business loans. Borrowers must demonstrate the ability to repay the loan.