How I Got a Quick Small Loan in 5 Minutes Without Collateral

This post will show you how I got a quick instant loan without collateral and how you can take advantage of this platforms especially when you are stranded and you need a quick loan to take care of urgent needs.

There are so many platforms or organizations out there that promise instant loan but the requirements and guarantors sometimes are so high that it discourages many loan seekers.

I haven’t taken a loan before from a bank or any financial institutions, but I have stood as a guarantor for many closed people including family and friends and I know how difficult to get a loan. In addition, I have been doing research for loan opportunities to share with my subscribers.

The platforms that you can get instant loans focus on small loans both for personal and business needs. The more you are able to pay back without default, the more the amount you can borrow subsequently.

The platform I got a quick loan is Paylater. PayLater is a simple mobile online lending platform that provides short-term loans to help cover unexpected expenses or urgent cash needs. The platform is available on Google Playstore. The website is and if you are browsing from your mobile android phone, click here to download Paylater from Google Playstore.

I got to know about Paylater last year when I saw their advert and also saw people sharing the platform via Whatsapp and facebook so I decided to check it out and installed the app and applied but it wasn’t successful. Immediately I deleted the app from my phone.

On the 4th of June, a colleague of mine in the office talked about it and shared his referral link with me for me to try them. I told him I don’t need it and I have tried them before. He said I should try again and I should share it on my website since my website is all about funding and loan opportunities so that others will know. So I decided to try again and within 5 minutes, I got approved for N20,000 instead of the N50,000 I requested.

screenshots below show the alert. I was giving 2 repayment dates but I chose 15 days instead of 30 days. What surprises me is that for 15 days the interest is N3,00 while 30 days is N2500

For you to get approved, you must have a BVN number and also link your bank account for payment. You will also need to link your card too. N50 will be deducted to validate your account for the disbursement. The N50 will only be deducted once your loan is approved and is a one-time deduction.

Tips That Will Help You Get Approved

  1. Ensure that your BVN, bank account and ATM card readily available.
  2. Ensure information you fill in the app correspond with the details you submitted for your BVN registration. The reason why my first application was rejected was that my date of birth I provided was different was the one on my BVN. Your address on your BVN and the app should reflect on the ID card.
  3. Have a valid government-issued means of identification.
  4. The location you are submitting your application should be the same or closeby because the app will detect your location. If you are in Ogun State applying and you filled address in Lagos, that might affect your chance.



  1. Instant loan and a loan decision in minutes.
  2. No collateral needed
  3. Simple application process
  4. No guarantor needed except you are applying for up to N1,000,000
  5. Flexible loan repayment process (You can splits repayment as many times as you want before the due date)
  6. Making on-time repayments can grant you access to higher credit limits for your next loan.
  7. Paylater is currently available throughout Nigeria.
  8. It is intended to meet urgent, short-term cash needs.
  9. You can re-apply for another loan immediately after your loan amount is fully paid off and may qualify for higher credit at a lower rate.



  1. You can only apply from your mobile device and Paylater is currently only available on Android devices.
  2. You need a working internet connection to apply
  3. Late payments can also affect ability to borrow in the future, so please ensure timely repayments of obligations.
  4. Failure to pay off any loans taken trigger a notice to the consumer credit reporting agency which would negatively impact an individual’s credit score.
  5. Not ideal for those who intend to service long-term debts.


Want to apply for an urgent and an instant loan from paylater?

Click here to download the app from playstore or visit to check out their website

Are There Similar Platforms Like Paylater?

Yes, there are many other platforms like paylater. Another platform that I have tried and got approved for N7,500 loan is Aella Credit. Unfortunately, I didn’t accept because I wasn’t really interested and was just testing them out for the purpose of writing this post. Their website is


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  1. Thank you Utibe for this information and the numerous opportunities that you freely shared. I’m glad I to have you as a friend.

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