Top 10 Online Lending Platforms for Small Business Loans in Nigeria.

Most often, many small businesses may require extra funding or capital in terms of business loans to expand or keep the business going. When all other means of raising fund for your business has been exhausted, the best alternative is to consider getting a business loan. But many small business owners view the lending process as complicated and frustrating especially when approaching Banks for such finance.

With the rise of many players in the Nigeria’s #FINTECH industry, there are few online lending platforms that help business owners with quick loans for their business. In this post, we listed the top 10 online lending platforms in Nigeria for quick access to business loans.


Lidya is an online platform that provides businesses access to finance. The platform offers small and medium-sized businesses unsecured loans of between $500 and $15,000.

According to the founders, “Lidya uses technology and algorithms to assess the risk before granting the loans, it allows them to offer financial products to these customers at a low cost.”


KiaKia is a digital money lender for Nigerian businesses. KiaKia utilises psychometry, big-data, machine learning and digital forensics for its proprietary credit scoring and credit risk assessment algorithm to provide direct and peered personal and business loans to millions of individuals and SMEs without credit information.

The name KiaKia was derived from a Nigerian language which means “Fast Fast”. According to them, the solution is very simple and fast, but highly effective and efficient.


GroFin provides Small and Medium Enterprise (SME) finance/business loans across Africa & the Middle East. If you have investible numbers and you looking to expand your business, then GroFin is your best short.

With GroFin, businesses can access business loans between US$100,000 and US$1.5 million. If you think your business ticks the required checklist, then you can submit your online application here.


Formerly known as One Credit, OneFi is a credit facility company that offers short-term consumer loans to credit-worthy individuals with limited access to finance.

One-Fi loan repayment cycle is typically between 3 – 12 months, with loan amounts ranging from N40,000 – N2 million. You can apply here.

5. C24

C24 Limited is a microfinance institution that was established with the sole mission to create an avenue for people to actualize opportunities around them, by helping them access cash loans when they need it.

C24 understands the need for quick cash loans and the necessity of quicker loan processing time. Their online loan process has been optimised to help applicants avoid the stress associated with other loan companies.


QuickCheck is a modern lending platform for individuals and small businesses. QuickCheck uses mobile technology to enable individuals and small businesses gain access to financial credit.

According to the platform, users can access quick and hassle free loans of up to 30,000 Naira without any collateral for a duration of either 15 or 30 days.

7. CARBON (formerly PAYLATER)

Carbon (formerly Paylater) is an easy-to-use and entirely online lending platform that provides short-term loans to individuals and small businesses in Nigeria to help cover unexpected expenses or urgent cash needs.

With Carbon, you can access up to 500,000 Naira loan with no collateral. Once your application is approved, funds are typically received within 1 – 3 business days. Making on-time repayments can grant you access to higher credit limits for your next loan.


Aella Credit is building platforms that make it easier for individuals in Africa to gain access to financing. Mainly focused on employee lending and empowerment, the company has affiliated with three main credit bureau agencies in Nigeria to provide quick and affordable loans with no paperwork to its customers.

Aella Credit uses a  proprietary credit scoring algorithm to determine the credit worthiness of its users. The algorithm, which was built after the team gathered over five years of market data and analysis, processes an applicant’s eligibility for a loan by considering social and demographic factors as well as their debt to income ratio.


Zedvance is a consumer finance company committed to providing consumer credit to individuals. You can borrow up to 3 Million Naira in less than 24 hours.

The company specifically provide loans to salary earners but if you are a salary with a side business, you can pick up the deal to finance your business use.


Last on the list is SMEDAN, a government-backed initiative to offers quick and easy business loans to Nigerian SME’s businesses in need of financing. The core mission of the organisation is to promote entrepreneurship among Nigerians and also provide capital to start the business.

Aside funding, SMEDAN also provide business owners with hands-on training and support to help them run their business. If you would like to apply, click here to access their online application portal.

Final Thoughts

While most of these platforms claim to offer quick loans without any collateral, it is advisable to carefully study their Terms & Conditions (T&C) before throwing in an application.

Another factor to consider is the interest rate and payback period. As a business, you will not want to go in for loans with very short payback period except you very sure you will earn back the money in no-time.

In the process of getting loan, you will be asked to present a business plan. If you need a standard business plan, check out theList of Business Plan we have

Do you want us to develop a unique business plan for you, check out our business plan service page

About The Author

33 thoughts on “Top 10 Online Lending Platforms for Small Business Loans in Nigeria.”

  1. Hello Jacob
    I need a loan of at least 10m ie. $30,000 to pay back within 3-5yrs. This is to help me enhance my business. Is it possible ?

  2. Inyiama Chukwuma Christian

    I really need a long term loan of about 300,000-500,000 naira in invest in my phone parts and accessories business. 08168648219.

  3. please i need a loan of about 900,000 to 1,200,000 to start up my solar project of coverage 9,00000metres…

  4. Michael Olusegun David

    Please I need a loan to bring in fumigating machine which a lot of people have been calling for since I placed the advert on my social media,

    1. It depends on the loan amount. The higher the loan amount, the more difficult to get.
      Your family and friends are the first set of people to approach. The reason is that it’s easier and cheaper to get a loan from them than financial institutions in Nigeria.
      Their loan always come with difficult terms and conditions.

      Approach your bank first and discuss it with your account officer.

      Visit this company for SME loans: Carbon SME Loan –, Lidya SME loan – and RenMoney –

      I hope this helps.

  5. Pls I need a loan of 1 million naira to start up a business, the shop and power supply of the business is already intact, I just need money to start up the business!!.. I’ll pay back 1.5 million naira in 4-5 months time
    If I can get help pls my number is 08125252609 it works for both call and WhatsApp

    1. Getting a loan is not as easy as you think except you have all the requirements. If you have been running the business, it is much better because your inflow and outflow will help you to determine how much would be given.

  6. there is a particular company that gave me a loan in march for my natural Gas business, Irvin global, and investment limited at Victoria island, very flexible and lovely.
    I am sure they can help you

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