Business loans

        Business loans in Nigeria

Why should your business close down due to financial hitch? When you can quickly obtain a business loan to salvage your business and keep it running. Business loans can be obtained from many reliable money lending platforms in Nigeria.

₦6 000 000
Loan amount ₦100 000 - ₦6 000 000
Interest 35.75 %
Maturity 3 - 24 months

Fast information

Properties of this loan

  • Online loans up to N6.000.000
  • Term 3 - 24 months

Loan terms

  • 18 + years old
  • Nigerian citizen

About company

More information about the company Renmoney

Borrow from ₦100 000 with interest from the 35.75 % Moread
₦150 000
Loan amount ₦30 000 - ₦150 000
Interest 0 %
Maturity 2 weeks - 8 months

Fast information

Properties of this loan

  • Online loans up to N150.000
  • Term 2 weeks - 8 months

Loan terms

  • Duly completed application form
  • 2 guarantors
  • 2 recent passport-size photographs
  • Current electricity bill
  • A valid means of ID (national ID, driver's license, voter's card or international passport)

About company

More information about the company LAPO MfB

Borrow from ₦30 000 with interest from the 0 % Moread
₦100 000 000
Loan amount ₦1 000 000 - ₦100 000 000
Interest 9 %
Maturity 1 - 5 years

Fast information

Properties of this loan

  • Loans for small and medium businesses
  • No collateral

Loan terms

  • Letter of employment
  • Staff identity card
  • Pay slip
  • 6 months statement of account

About company

More information about the company NIRSAL National Microfinance Bank (NNMFB)

Borrow from ₦1 000 000 with interest from the 9 % Moread
₦50 000 000
Loan amount ₦250 000 - ₦50 000 000
Interest 14 %
Maturity 1 - 5 years

Fast information

Properties of this loan

  • Limit of N5,000.000.00 to individual persons
  • Above N5,000.000.00 to corporate organisations

Loan terms

  • Current tax clearance certificate
  • Last 3 years audited statement of account or statement of affairs required
  • Consent to mortgage of the landed property being pledged as security for the loan

About company

More information about the company Bank of Agriculture Ltd.

Borrow from ₦250 000 with interest from the 14 % Moread
₦50 000 000
Loan amount ₦1 000 000 - ₦50 000 000
Interest 10 %
Maturity 1 - 5 years

Fast information

Properties of this loan

  • Enterprise loan
  • Up to N50.000.000

Loan terms

  • Formal Application on letterhead and duly completed loan application form.
  • Photocopy of Certificate & Form of Registration
  • Business Plan which includes detailed Profile of the Business Enterprise with Curriculum Vitae of the key Management Staff
  • Proforma invoice for the items of Equipment to be purchased
  • Sources and quotations for Raw Materials expressed in quantity and amount
  • Means of Identification of Promoters (a) Four (4) passport photographs and Biometrics Verification Number (BVN), (b) Photocopy of International Passport or Driver’s License or National Identity Card or Permanent Voter’s Card
  • Bank Statement of the Business Enterprise for a period of one (1) year (for existing business)
  • Declaration of Outstanding Liabilities to other Banks and Individuals, if any
  • Two Individual external guarantors with proper means of identification such as BVN, four (4) passport photographs, Identity Cards and Letter of Intent to guarantee the loan

About company

More information about the company Bank of Industry Limited

Borrow from ₦1 000 000 with interest from the 10 % Moread
₦5 000 000
Loan amount ₦10 000 - ₦5 000 000
Interest 5 %
Maturity 1 - 60 months

Fast information

Properties of this loan

  • Online loans up to N5.000.000
  • Term 1 - 60 months

Loan terms

  • 18 + years old
  • Nigerian citizen

About company

More information about the company Sterling Bank Plc.

Borrow from ₦10 000 with interest from the 5 % Moread

C24

C24  4
₦5 000 000
Loan amount ₦50 000 - ₦5 000 000
Interest 16 %
Maturity 1 - 12 months

Fast information

Properties of this loan

  • Online loans up to N5.000.000
  • Term 1 - 12 months

Loan terms

  • You should be between 22 and 55 years
  • Applicant must live and/or work in Lagos State
  • Be employed (for at least 6 months) and get paid into your bank account
  • Have a good credit history
  • You must have a verifiable monthly income
  • You must have a pension account

About company

More information about the company C24 Limited

Borrow from ₦50 000 with interest from the 16 % Moread
₦200 000
Loan amount ₦20 000 - ₦200 000
Interest 5 %
Maturity 7 - 30 days

Fast information

Properties of this loan

  • Online loans up to N200.000
  • Term 7 - 30 days
  • No collateral

Loan terms

  • 18 + years old
  • Nigerian citizen
  • The bank account provided should be in your name

About company

More information about the company KiaKia

Borrow from ₦20 000 with interest from the 5 % Moread
₦2 000 000
Loan amount ₦100 000 - ₦2 000 000
Interest 4 %
Maturity 1 - 36 months

Fast information

Properties of this loan

  • Online loans up to N2.000.000
  • Term 1 - 36 months

Loan terms

  • You are a registered business
  • You have been operating for 6+ months
  • You have a valid invoice and are awaiting payment OR you have a purchase order and need financing to help you complete the job

About company

More information about the company Lidya

Borrow from ₦100 000 with interest from the 4 % Moread
₦5 000 000
Loan amount ₦1 - ₦5 000 000
Interest 3.5 %
Maturity 1 - 18 months

Fast information

Properties of this loan

  • Online loans up to N5.000.000
  • Term 1 - 18 months

Loan terms

  • 18 + years old
  • Nigerian citizen

About company

More information about the company Zedvance Limited

Borrow from ₦1 with interest from the 3.5 % Moread
₦5 000 000
Loan amount ₦10 000 - ₦5 000 000
Interest 4 %
Maturity 1 - 18 months

Fast information

Properties of this loan

  • Online loans up to N5.000.000
  • Term 1 - 18 months

Loan terms

  • You must be in a paid employment or a business owner
  • Your age should be between 18 and 55 years
  • You must have a savings or current bank account

About company

More information about the company Pennylender Limited

Borrow from ₦10 000 with interest from the 4 % Moread
₦5 000 000
Loan amount ₦500 000 - ₦5 000 000
Interest 1.33 %
Maturity 6 - 12 months

Fast information

Properties of this loan

  • Online loans up to N5.000.000
  • Term 6 - 12 months

Loan terms

  • 18 + years old
  • Nigerian citizen

About company

More information about the company Guaranty Trust Bank Plc.

Borrow from ₦500 000 with interest from the 1.33 % Moread

        Business loans in Nigeria

The goal of every business is profitability, but there are times when the financial atmosphere around a business may not be favourable. At such times, taking a loan is a wise decision, as it would help the business thrive despite the inherent financial difficulty. 

Taking a business loan is now very easy, compared to the days when, you need to go to banks, submit countless documents, wait for days for it to be processed, and have to put a hard-earned possession at stake (as collateral). The online sources of the loan made taking a business loan that easy. And the ease is enhanced by the technology in use. 

They utilise various financial tools, algorithms, and the likes to assess the requested loan, weigh the risk involved, and make calculations of the interest rates and loan tenure. Within a few minutes (say 15 minutes) your requested business loan would land in your account, and your business would be back to life.

General Requirements for Online Buniess loans 

The requirements for obtaining a business loan from online money lenders (I.e., a business loan obtained for a small or medium scale business Enterprise (SME’s) include:

While banks may request for specific documents, most online money lending platforms do not require documents to offer you a loan. The choice is entirely yours, whichever source you desire to choose, be sure you would be satisfied with them.

Also, some of the reliable money lending platforms available online do not request for collateral even for high-volume business loans worth millions. However, you must be able to convince the lender of the ability to repay the loan together with the interest on or before the due date.

Popular sources of business loans in Nigeria

Some tech-enabled platforms render loans to SME's, they include:

Conclusion: 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. You should, however, make a careful consideration of the source you desire to use, to be sure you agree with all their terms and conditions.


Business loans in Nigeria rating: 4.5/5 from 21 votes.

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