Online Loans App to get collateral-free Lending In Nigeria

Most Nigeria small and medium scale business owners are not finding it friendly to obtain Loan from the bank due to complicated collateral-in choice location

There are few online App lending business owners with quick loans for their business.

1 Paylater

With Paylater, you can access up to N1,000,000 Naira with no collateral.There is a validation charge of ₦100 on the initial loan.

All you need to do is download the app and apply for this service. Once your application is approved, funds are typically received within 1 – 3 business days

Interest rate: 5% to 30%, depending on credit rating

You can Earn up to 15.5% per annum when you invest with Payvest. they offer market leading rates so your money works harder for you.


This platform uses data bulk, computer forensics, psychometry and machine learning to perform secure credit rating and enable repayment risk evaluation algorithm in order to to provide direct, personal and business loans to millions of individuals and SMEs without credit information.

Interest rate: 5.6% – 24%, depending on credit rating

3′ QuickCheck

QuickCheck uses mobile technology to enable individuals and small businesses to gain access to financial credit.

clients can receive instant and readily accessible funds of not more than 30,000 Nigerian naira for a period of either fifteen or thirty days without providing any collateral in exchange.

QuickCheck require that you have a source of income, by selecting employment status

Interest Rate: 1% daily

4 PayConnect

To access loan from PayConnect,you have to be a employee working with for not less than 6 months. You need to present 3 months statement of account and you will also need the approval of your employer to access the loan.

PayConnect is machine learning algorithms process thousands of data points to assess borrowers credit profile and create tailored loan products – availing a unique loan amount to client and a unique repayment period without providing collateral.

Interest Rate: 28% – 31%

Relevant Documents to accompany your application.

Government Approved ID Card (Drivers’ License, International Passport, National ID Card, Permanent Voters’ Card).

5 CreditVille

CreditVille gives you the opportunity to apply for three types of the loans: PayDay loan between NGN 200,000.00 to NGN 2,000,000.00 loan for salary earners

Business loan is between 200,000.00 to 2,000,000.00 loan for business owners and self employed individuals.

The Car Lease scheme is designed to make you a boss of your own. You can now own a cab via the higher purchase method for Uber/Taxify with convenient installment payments for up to 24 months

6 Aella Credit

Aella Credit uses a proprietary credit scoring algorithm to determine the creditworthiness 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.

You get loan via Android App


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