Business

Legit ways to borrow instant loan in Nigeria without BVN or collateral

Published

1 year ago

2023/02/01

There are times you will need that urgent N2,000 (urgent 2k) to handle an emergency or a quick loan to start a small business.

Over the years, many loan apps have sprung up; offering instant cash without BVN or collateral. Unfortunately, most of these apps are illegal.

This article will guide you on legit ways to borrow instant loan in Nigeria without BVN or collateral and lenders to avoid.

Check our list of legit loan apps.

Full list of banks offering loans without collateral

Access Bank offers up to N10 million without collateral to SMEs
Fidelity Bank (N10m)
First Bank (N10m)
GTBank (N30m)
Polaris Bank (N10m)
Standard Chartered Bank (N20m)
Union Bank (N50m)
Zenith Bank (N10m)

Z-Woman is Zenith Bank’s (N10m) single-digit loan product for female-owned businesses for all sectors primarily geared toward growing the SME sub-sector and diversifying its customer base.

Standard Chartered Bank recently launched a product known as Smart Business Loan (SBL), a non-secured lending product, targeted at supporting the growth of SMEs.

Digital money lenders with full license from FCCPC

Sycamore Integrated Solutions Limited
Trade Depot
Tajow Investment
Blue Ridge Microfinance Bank Limited
Grolatech Credit Limited
Branch International Financial Services Limited
P2vest Technology Limited
Creditwave Finance Limited
Keenest Tech Service Limited
Fairmoney Micro Finance Bank
Altracred Finance Investiment Limited
Crevance Credit Limited
Menacred Company Limited
Afrowide Development Ltd
Red Planet Nigeria Limited
Afrofirst Mobile And Technology Company Limited
Rankcapitals Limited
Ibs Golden Investment Company Limited
Lendvisery Services Limited
Creditwave Finance Limited
Renmoney Microfinance Bank Limited
Swipebill Technologies Nigeria Limited.
Hometown Fintech Limited
Giasun Technology Nigeria Limited
Be Resources Limited
Rockit Lenders Nigeria Limited
Pivo Technology Limied
Yes Credit Company Limited
Fubril Century Limited
Irorun Technologies Limited
Csense Limited
Supreme Help Cooperative Society Limited
Orcom And Orcom Bussiness Suport Limited
Payhippo Limited.
Easycheck Finance Investment Limited
Quark Financial Nigeria Limited
Edmond Solutions Company Limited
Ted Rocket Limited
Penaid Limited
Arve Limited
Dover Credit Limited
Ragekay Global Investment Limited
Maywood Lending Limited
Linkpark Technology Nigeria Limited
Mangnet Lending Limited
Rubystar Global Limited
Bestfin Nigeria Limited
Fubri Century Company Limited
Berly Spring Global Limited

The following digital lenders have received conditional approvals from the Commission, which means they still need to fulfil a few conditions before they can receive full approval: