10 Best Private Money Lenders in Nigeria

We compiled a comprehensive list of private money lenders in Nigeria who provide loans to businesses and people via the internet and other distant means. You can obtain funds from these financial credit institutions to suit your financial requirements.

We all have times when we think, “I need a loan.” But how can one obtain it? Today, we’ll tell you about private loan lenders in Nigeria who may lend you money without requiring any collateral, and they’re all available online! So, if you want to apply for a loan in the easiest method possible without risking losing something vital, read this post.

Not everyone in Nigeria has something they can use as collateral to get a loan, which is why no-collateral loans are vital. Today, entrepreneurs and individuals can apply for quick online loans without putting their assets as collateral.

One of the most remarkable opposition in establishing a business in Nigeria is a lack of finance. With the new quick and easy online funding choices, lenders examine creditworthiness and ability to repay within a specific time limit. They may accept a loan amount depending on that evaluation.

In this article, we discussed 10 best private money lenders in Nigeria to small businesses and individuals with or without requiring collateral.

private money lenders in Nigeria

List of Top 10 Private Money Lenders in Nigeria

1. Aella Credit:

This loan organization is an excellent choice for salaried individuals that require urgent cash. Applicants only need the Aella Credit mobile app and their BVN; no paperwork is necessary.

2. ALAT by Wema:

Alat by Wema is Nigeria’s first digital bank, launched in 2017 to give loans to people and small businesses. Transactions and applications are completed entirely within the app, with no need for paper.

3. Branch Loan:

This credit facility offers loans for a variety of uses. Because the branch is an online loan company, the loan application and payment are both completed online. The more loans you take out and repay, the more money you’ll be eligible for on your subsequent loan request.

4. Carbon:

Carbon is a Nigerian loan organization that offers loans ranging from N500,000 to N1 million with interest rates ranging from 5% to 12.6 per cent. The loan application is approved within three working days, and the funds are transferred to the borrower’s account.

5. CreditVille:

Although Creditville is primarily an asset management firm, it also offers a private loan service that focuses on Capital Markets, Consumer Finance, and Real Estate.

6. Development Bank of Nigeria:

The Federal Government of Nigeria established the Development Bank of Nigeria to give business loans to Nigerians. It also has cheap interest rates; the only issue is that the banks required to provide loans on this platform are ineffective in carrying out their responsibilities.

7. EasyLoan:

Easyloan is an online loan firm in Nigeria that may provide you with a speedy loan. They usually offer loans without hassle, and you can get your money within 24 hours. They also provide loans of up to N1,000,000 at a cheap interest rate of 1%.

8. Eazzicash:

In Nigeria, EazziCash is a relatively new internet loan provider. They provide SMEs in Nigeria up to N5 million in business loans, and the mobile app is where you may apply for their loan offer.

9. FairMoney:

Fairmoney is a lender that offers a variety of loans, including business loans, education loans, and personal loans. They have an app where you may apply for a loan and receive it.

10. FINT:

Fint is Nigeria’s first peer-to-peer lending platform. They make loans to folks who are in desperate need of cash.

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How to Get Loans Without BVN in Nigeria

  •  Branch Loan:

The branch is the world’s most popular mobile banking and personal finance loan app, which gives you access to fast loans without Bvn, collateral, or physical documentation.

  • Xcredit Loan:

Xcredit is a mobile application platform created by a Lagos-based fintech firm.

Although they have an office in Lagos, Nigeria, the platform is solely an online loan app. You do not need to visit their office to benefit from their services.

  • Lcredit Loan:

LCredit is a Fintech platform in Nigeria that offers a 24-hour loan through their loan application.

  • Zedvance Loan:

In Nigeria, Zedvance is a CBN-licensed financial services company. They provide speedy loans to Nigerian salaried workers, self-employed people, SMEs, and entrepreneurs who want to grow their business most effectively and efficiently.

  • Quickteller Loan:

Quickteller is a financial service app that lets you send and receive money, airtime, and pay bills online. Quickteller’s website was created and maintained by Interswitch, a digital payments company.

  • Renmoney Loan:

Renmoney is a Fintech lending firm based in Lagos, Nigeria, that operates under a microfinance banking license.

They offer personal and small company loans without BVN or collateral through their website Renmoney.com, which is regulated by the CBN and insured by the NDIC.

We will be glad if you share with us your contribution and suggestion about private money lenders in Nigeria in the comment session.

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