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Top 9 Online Lending Platforms For Small Business Loans In Nigeria

online lending platforms for small business loans

In Nigeria, every small business owner or start-up often faces the challenge of funding. And perhaps the biggest block in getting a loan for your business is having collateral which most of the time comprises of your most valued assets. Well, it’s why we now have online lending platforms for small business loans.

Today, this challenge has been eliminated with the rise of online platforms that grant loans to small businesses without collateral. These platforms give out loans in faster and less strenuous application processes with reasonable interest rates.

If you’re a business owner looking for loans without putting down assets or so many business documents, here are a few platforms you should consider.

MUST-READ: The Ultimate Guide to Getting a Small Business Loan In Nigeria.

Online Lending Platforms For Small Business Loans In Nigeria

1. Glade

online lending platforms for small business loans is a digital bank for small businesses in Nigeria. A part of their offer includes quick loan offers to business owners and MSME’S in Africa. They also provide a current account, prepaid and expense card, overdraft amongst many other essential features for your business. 

All Glade requires for a business loan is your Glade account, certificate of incorporation, valid means of identification, utility bill, and your corporate account. Interest rates are also really low with 1.4% per month (interest rates might vary)

Click here to sign up on Glade. For more information contact glade at

 2. Easy Loan

Easy loan is an online platform dedicated to providing loan services to businesses in Nigeria. The plus side of using this app is that once you repay your loan before the deadline, you get a bonus of 1% every month.  The interest rate for repayment on Easy Loan is a flat rate of 5% monthly. For more information contact easy loan on

3. GTBank Quick Credit

Guaranty Trust Bank offers an easy loan process for small business owners across Africa. Unlike the regular loan request, this quick credit option requires no collateral. The eligibility here is to have an active salary account with Gtbank and be between the ages 18-59.

Interest rates are from 1.33%. To start dial *737*51*51#

4.  Migo (Formerly Kwikmoney)

Migo is one of the organizations partnering with tech companies and network providers to give out loans. This service has extended to those seeking business or personal loans. All you require is the Migo mobile app and your bank verification number. The loan interest rate is 15% for 14-30 days.

5. Branch

Branch is another online platform that gives out business loans to its users. The more credit you have with Branch, the more loan requests you can make. Although the credit score makes it inaccessible to everyone, Branch compensates for this by not requesting for business documents. To be eligible, all you need is your BVN, your phone number, personal details, and good credit.

Interest rates with Branch range from 1-21% monthly. For more information contact

6.  Aella Credit

Aella Credit is a mobile application that provides loans for everyone, including small businesses in Nigeria, Ghana, and the Philippines. Like Branch, Aella Credit uses credit to establish whether or not a loan application will be granted. However, the difference with Aella is that the creditworthiness is determined by an algorithm developed by their team. Your BVN and Aella Credit mobile app are all you need to apply for a loan.

The interest rate ranges from 4%-29% monthly. For more information, contact

7. Lidya

In 3 steps which include creating an account, selecting loan type, and receiving your loan, you can get loan financing online via Lidya. Lidya provides you loans, as a small business, based on the cash flow in your bank account and without collateral.

Loans on Lidya are secured at an interest rate of 3.5% monthly.

8. Kiakia

Kiakia is an online platform that gives out loans to small businesses. They do not need any documents to approve loans, they only need to verify and authenticate your bank account. 

The interest rate for loans on Kiakia is set at 3.5% monthly.

9. Renmoney

You can get up to N6 Million naira for your small business on Renmoney as a loan. However, you will need documents like your bank statement, a government-issued ID card, and utility bill (optional) to apply. You must also be between the ages of 25 – 59 years old.

The interest rate for Renmoney loans is pegged at 35.76% per annum.


Unlike loan applications in commercial banks, online platforms are a faster means of getting a loan. You should totally jump on them if you do not plan to go through a whole lot of frustrating paper processes.

Feel free to ask questions in the comments section, if you have them. We’re happy to help.


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