5 online platforms to get collateral-free loans for your small business in Nigeria

by | Jun 14, 2021

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As a small business owner, growing your business and meeting your customers’ needs should be your top priorities. 

If you just said, “But I need money to reach my goals,” you’re not alone. I hear you, and I’ve received mail from small business owners with the same needs. 

Getting a loan is an option if you need money for your business, but the thought of collateral is a burden, right?

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That is why we have come up with a list, in no particular order, of five collateral-free sources of loans for small businesses.

Ready. Set. Read.

1. Carbon’s SME loans

Carbon’s SME loans is a product that allows you to “grow your small business with affordable, collateral-free loans.” SMEs can access up to ₦1,000,000 without collateral, guarantors, or paperwork. 

2. Kiakia

Claiming to be “the financial marketplace to access and lend out personal and business capital,” Kiakia might just be what you’ve been looking for to give your business a boost. 

3. FastCredit

FastCredit offers business loans to micro, small, and medium enterprises to support business growth. The loans are backed by guarantors and are for a maximum tenor of six months for business owners that meet the criteria.

4. QuickCredit for Small Business

If your business is in the Education, Healthcare, Trade, or Service sectors, and you have a GTBank account, you probably want to check out QuickCredit for Small Business, a time loan product aimed at supporting the working capital needs of SMEs.

5. EZ cash for SMEs

Stanbic IBTC Bank’s EZ cash for SMEs is an instant loan that business owners who meet certain eligibility criteria can enjoy from the Bank. It allows customers to choose a repayment option between one to twelve months.

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Emediong Udoma ntiah
Emediong Udoma ntiah
7 months ago

It is a welcome development for loans to be made available to people to access. This will help to reduce poverty, unemployment, etc., in Nigeria

Adeleke Taoreed Olawale Adeshina
Adeleke Taoreed Olawale Adeshina
7 months ago

This is a welcome development for the upspring small and medium Scale enterprises in Nigeria. It wouldn’t be an overstatement to say that this sector generates employment opportunities for the populace than any other sectors hence the need for the capital oriented facilities as you had afforded us with this information.
But the question agitating ones mind are that. 1. The application procedures for these loans.
2. The repayment guidelines and the lending rates for each of these loan facilities.
3. Hope reading from you soonest.
Thanks immensely.

DEJI ABIOLA
DEJI ABIOLA
6 months ago

IS THERE NO QUICKLOAN PLATFORM THAT DOESN’T REQUIRE APP DOWNLOAD AND INSTALLATION IN NIGERIA AS REQUIREMENT FOR LOAN/CREDIT ACCESS?

Precious Mogoli
Precious Mogoli
Admin
Reply to  DEJI ABIOLA
6 months ago

Hello, Deji.

Not all loan platforms require an app. There are some web-based loan platforms available.

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