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Top 20 Websites That Gives Quick Loan Without Collateral

Top 20 Websites That Gives Quick Loan Without Collateral
Written by Insurance

With the economy going haywire, you’d agree everyone is searching for financial cover, and possible results to win against the present circumstance, I’m here to say, all hope isn’t lost, your business, personal goals, and education plans can be a reality, as the saying goes ” there’s light at the end of the tunnel”, with being able to get a loan from the comfort of your home and at the flick of your fingers, you can say a hallelujah, because it gets better, there are no collaterals needed.


Most Nigeria falls out of luck getting loans from financial bodies because they need collateral, keep your eyes glued to the screen as I give you trusted firms where you can receive loans without collateral.

What is a loan? How does it work?

A loan is a financial tool that helps both businesses and individuals to meet financial responsibilities. However, most lenders often require a form of collateral to serve as security before they give out the loan to ensure its repayments.

Not every individual in Nigeria has what they can present as collateral to access a loan. It is why loans without collateral are very important. Fortunately today, business owners and individuals can apply for quick online loans without putting up their possessions as collateral.

We should know collateral loans mandate borrowers to guarantee security to avoid the risk of default, therefore a loan without collateral is the complete opposite.

20 Websites you can get loans without collateral


Renmoney is a microfinance bank, that has taken it upon itself to make an impact nationally, by rendering loan services to its clients, they are finance enthusiasts who are passionate about making financial inclusion count. They provide both personal and business loans. To qualify for a loan, you must be between 22 – 59 years old, you must have a checkable source of income. With all said you can borrow over 6 million nairas in 24 months.

Read Also: Where can I borrow Money Online Without BVN

Fast Credit

Fast credit loans to micro, small and medium corporations to support the growth, of their enterprise. The loans are backed by guarantors and are for an utmost tenor of 6 months for business owners that meet the criteria.

Aside from business loans, they also offer simple and fast ‘general’ cash loans to employees of corporate organisations such as banks, insurance/other financial establishments, Oil and Gas employees, etc to enable them urgently meet the need of their prospects.


Carbon was co-founded by Ngozi and Chijioke Dozie, with a mission to empower all people with the financial access they need to pursue a life of dignity and prosperity. Carbon should be one of the first, to, come to mind when searching for a reliable loan company as it also offers both personal and business loans, with Carbon there is no need for, collateral, guarantors, or signing of long forms, open an account via their app and you’re one step close to seeing your dreams become a reality.

Kia Kia

Kia Kia is an online money lender for Nigerian businesses, with over 7 .8 billion naira lent out, you must surely look into this loan company, that’s not all, they’re uniquely known for their P2P transaction, (peer to peer) where you can safely be a lender and find others who willing to borrow from you, you can borrow at an amazing and very flexible interest rates, as low as 6.5%, and can earn over 28% as return on funds. Kia Kia uses 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 notifications.

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

Quick check

QuickCheck is a modern digital lending platform for individuals and small businesses. It would interest you to know, Quick check is compliant with PCI DSS ( payment card industry, data security standard), to ensure safe transactions on their site or app. According to the platform, users can access quick loans of up to 30,000 Naira without any collateral for a duration of either 15 or 30 days.

Soko Loan

As a Microfinance Institution, Soko Loan company in- tends to increase chances for the poor to access financial services by providing financial services to low-income entrepreneurs, Grassroots employees of SMEs, Soko loan has a keen interest for women in business, thereby giving fast loans to women with financial needs in their business, Students who continue to learn, shoppers with consumer needs, customers with fixed assets such traders,  small scale farmers, etc. Soko loan company deals majorly with short-term loans.

Kwik Loan

Kwik cash now known as Migo, is known for its transparency, reliability, and no hidden charges at all, as their system enables people to have easy access to loans, I can say, they’re lenient. You can return the loan without actually using it, within 7 days, that’s not all this loan company has to offer, they enable their users to get loans “kwikly” by simply dialing *561#, you don’t have data to get a loan, Kwik cash still have you covered( note this is for Etisalat users). It may interest you to know if return your loan before the 14th day from the day you borrowed the money you will not pay any interest. After the 14th day, there will be a 5% interest increment.

Read Also: 10 Best Loan Apps In Nigeria With Low Interest


Okash is one of the very reliable loaning platforms, which services are provided by Blue Ridge Microfinance bank, at a maximum period of 24hrs you can cancel your loan. Like others listed above Okash delivers fast, with a loan as high as 50,000 nairas. You want it quick, you want it now, you should think Okash, with 24/7 good customer service, they are indeed a sure plug.


If you’re thinking world-class, global or a loan company with a record over time that has never failed, then BRANCH is your sure plug, with branches over Africa and the world, they have stood the test of time and offer only the very be at of services, with a mission is to deliver world-class financial services to the mobile generation, you can put your trust in them.


They have a great ethical collection of debts being owed, so most people usually are frightened to collect loans from online loan companies, because of the shaming they have experienced or someone close you’ve seen, but with a branch, you can be rest assured such unethical practice won’t be condoled.

Fair Money

Fair money is a microfinance bank, which gives instant loans, with no collateral as well, you can get a loan ranging from 1500 to 1,000,000 naira. They have a return period of  61 days to 18 months at monthly interest rates that range from 2.5% to 30% (APRs from 30% to 260%), you can say, it’s fair enough. With fair money you can extend your loan duration, so when you see fit and convenient, to pay up.

Palm Credit 

Palmcredit loan apps allow users to borrow instant money online with a ‘flexible repayment plan and favourable interest rate.” Palmcredit offers a wide range of s that will satisfy the needs of most customers. Loans range from ₦2,500 to ₦300,000 with loan term durations of 4 – 26 weeks and equivalent monthly interest which ranges from 5% – 28%.


Umba is not just a loan company but also an online bank, which enables users to apply, draw down, and repay loans. Once a person’s originality has been confirmed, Umba uses a risk examination to make loan choices.

In addition to mobile loans, it would please you to note that Umba is available 24/7, they eliminate the need for documentation, collateral, or in-person visits. Umba does not employ late fees or rollover costs, and you may have access to vaster loans, reduced rates, and more flexible payment terms as you repay. It uses your phone’s data, as well, as your SMS history, to validate your identity and generate a credit score, for obtaining a personal loan straightforwardly.

Umba is rated among Nigeria’s most secure, as they prioritise your privacy and profess never to share your information with other parties.

With a maximum term of 62 days for Umba loans, a minimum loan amount of 1,115 and a maximum sum of 89,182 nairas is being given. The maximum APR is 10% with no commission or VAT. Several automated variables determine your loan offer: as you continue to make repayments, the loan amount will rise over time.


CreditVille offers loans (to salary earners and business clients) to meet urgent needs life brings up.  CreditVille offers vehicle loans to get your preferred choice of vehicle. You can get loan offers between N100,000 to N4,000,000 for 18 months without collateral and guarantors, CreditVille Limited’s Payday Loan in Nigeria is a quick loan for salary. To apply for loans at CreditVille just visit their official website and fill out the application form and you get your applied loan without any stress.


Lidya is a digital platform that provides businesses access to finance. The platform offers small and medium-sized businesses loans of between $150 to $100,000. According to its administrators, “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.”

It would interest you to also know that Lidya is a USA-holding financial institution, with a team spread across 3 continents and 5 countries which are the USA, Portugal, Nigeria, Poland and the Czech Republic.

Aella Credit

We’re still on loan companies without collateral, Aella offers both personal and business loans, and they’re reliable and fast, Aella credits also health insurance to their customers, and you can surely trust them as they’re a sure plug. A little fact about Aella, In 2017, they became the first African lending firm accepted into Y Combinator and issued B2C loans under the Aella Credit brand. In their first year of offering B2C loans, they reportedly attracted more than 350,000 users by 2018.


Previously known as One Credit, OneFile 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  4-64weeks with loan amounts up to N200,000 or more.


Zedvance is a consumer finance company committed to providing consumer credit to individuals. As their salary-based loan allows salary earners to borrow up to 5Million Naira in less than 24 hours and a return within 18 months.The company specifically provide loans to SMEs and entrepreneurs.


Specta is a loan app in Nigeria powered by Sterling Bank. It grants and facilities loans to profiled business owners and salary earners in Nigeria. With Specta you access loans up to N5,000,000 without paperwork or collateral, within the time range of 5 minutes. The interest rate on the Loan: is 25.5%-28.5%*. One-off payment for Insurance: 2.5%. One-off payment of Management fees: 1%. Repayment Period: 1-12months. Penalty fee- 1%.

c24 loan

Unlike others listed above, c24 is restricted to those in Lagos, however, they are very reliable, as it provides retail loans for consumers in need of quick financial solutions. With a minimum loan amount of N40,000 and a maximum limit of N750,000  for new customers, while for existing customers is up to N1,000,000.00. Both depend on the borrower’s capacity to repay assessed based on verifiable income level and other selection criteria.


GroFin empowers Small and Medium Enterprise (SME) finance/businesses with loans across Africa & the Middle East. They are focused on SMEs therefore if you are looking to expand your business, then GroFin is your best option. 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 get a loan.

Gordon has released over $366 million on loan to businesses, I’d love to emphasize that Grofins are out and mostly serve those in small or medium-sized businesses, so for business owners, this should be your first go-to, as they have long-standing experience and have been tested over time.


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