Lidya – online loan Nigeria
Lidya business loans up to ₦2,000,000 for SMEs at 4% monthly.
Applying does not commit you to a loan agreement.
Screenshot of https://www.lidya.co
Lidya – SME and Business Loans Nigeria
Lidya is a Nigerian financial technology company that provides working capital loans and credit solutions to small and medium enterprises (SMEs) across Nigeria. Founded in 2016 and backed by prominent international investors, Lidya uses technology and alternative credit scoring to assess SME creditworthiness based on business performance data rather than traditional collateral. The company has served thousands of Nigerian businesses across sectors including retail, manufacturing, agriculture, and services, and has expanded its operations to other African markets.
Lidya offers business loans from ₦150,000 to ₦5,000,000 with repayment terms of 1 to 12 months. Monthly interest rates start from 4%. The application is done online through the Lidya website — business owners register, link their bank accounts for data analysis, and receive a credit decision within 48 hours. Required documents typically include business registration certificates, 6 months of bank statements, valid ID of directors, and CAC documents. There is no need for traditional collateral.
Lidya operates in compliance with Nigerian financial regulations and partners with licenced financial institutions. The company's use of technology-driven credit assessment makes it accessible to businesses that might struggle to meet traditional bank requirements. Lidya is an excellent option for growth-stage SMEs that have consistent revenue but limited physical assets to pledge as collateral. Compare the total cost of borrowing with other SME lenders to ensure Lidya's terms fit your business cash flow.
✓ Pros
- Collateral-free SME loans
- Uses business data (not assets) for credit assessment
- Loans up to ₦5,000,000
- Backed by international investors
- Suitable for growth-stage businesses
✗ Cons
- Application requires bank account linkage
- Processing up to 48 hours
- Maximum 12-month repayment term
- Higher interest than commercial bank SME loans
Loan example
Representative example: A business loan of ₦500,000 over 6 months at 4% monthly interest. Monthly repayment approximately ₦90,748. Total amount repayable: ₦544,488. Total interest: ₦44,488.
Loan requirements
- ✓ Registered Nigerian business (CAC)
- ✓ 6-month business bank statement
- ✓ Valid ID of directors
- ✓ BVN
- ✓ Active Nigerian bank account
- ✓ Business operational for at least 6 months
Loan features
- SME business loans from ₦150,000 to ₦5,000,000
- Terms 1 to 12 months
- Interest from 4% per month
- No collateral required
- Online-only application
- Data-driven credit assessment
Frequently asked questions
48 hours after submitting your application.
The minimum amount at Lidya is ₦100,000.
How to log in and sign up to Lidya
Lidya is used through its official app and website (www.lidya.co). To sign up, download the official Lidya app or open its website, then register with the details requested — usually your phone number and BVN — and complete the short verification. To log in, open Lidya and sign in with the phone number or email you registered with. Never share your login code, OTP or PIN with anyone, and only use the official Lidya channels.
Lidya customer care and contact
For help with your account, repayments or complaints, contact Lidya through the support options inside the official app or on www.lidya.co. Lidya is operated by Lidya Nigeria. Be cautious of anyone asking for an upfront "processing", "clearance" or "insurance" fee before disbursement — legitimate lenders deduct any fees from the loan, never before it. You can also compare Lidya with other lenders before you decide.