Best Loan Companies for Small Businesses in Nigeria
Loan Companies for Small Businesses
Having a small registered business in Nigeria gives you the opportunity to become a beneficiary of company loans to support your business. Do you have a small business in Nigeria and you want to enjoy the opportunity of accessing loan facilities from the best loan companies? Then this article is for you.
To apply for a loan for your small business, you must follow the steps and recommendations provided in this article. In this article, we have outlined some top loan companies that support small businesses in Nigeria.
We have also given fleshed detailed information about how you can access these loans to support your small business.
What are Loans for Small Businesses?
The main purpose of the loans to support small businesses is to ensure that the vision tied to the business is sustained by the loan facilities. This type of loan is only issued to small business owners who have good visions for their businesses.
This type of loan is sometimes called a start-up loan. The loan seeks to help persons with valuable business ideas acquire the opportunity to start business activities immediately.
List of Loan Companies for Small Businesses in Nigeria
Here is a list of international companies where you can acquire a business loan for your business or business startups:
SMEDAN, a government-backed program that provides quick and simple business loans to Nigerian SME enterprises in need of funding, comes in last on our list. The major objective of the organization is to promote entrepreneurship among Nigerians and also provide funding to establish the firm.
In addition to loans, SMEDAN offers assistance to business owners in the form of support and training. To access their online application site and submit your application, click here.
Consumer financing startup Zedvance is dedicated to giving people access to credit. In less than a day, you can borrow up to 3 million Naira.
However, if you are a salary person who also runs a side business, you can choose to take advantage of the offer to fund your business use. The organization specializes in lending to salary earners. >> Apply Here
8. Aella Credit
Aella Credit is developing systems that make it simpler for African citizens to acquire credit. The organization, which primarily focuses on employee financing and empowerment, has partnered with Nigeria’s three major credit bureau companies to provide its clients with rapid, reasonable loans with no paperwork.
To assess a user’s creditworthiness, Aella Credit employs a unique credit score system. The algorithm evaluates a borrower’s eligibility for a loan by taking into account social and demographic aspects as well as their debt-to-income ratio. It was developed after the team gathered and analyzed market data for more than five years. >> Apply Here
Short-term loans are made available to Nigerian people and small businesses through Carbon (previously Paylater), an accessible and totally online lending platform, to help with unforeseen costs or pressing cash demands.
You can obtain a loan from Carbon for up to 500,000 Naira with no security. Funds are normally sent within 1 to 3 business days after your application has been approved. You might be able to get a loan with a greater credit limit if you make on-time payments. >> Apply Here
A contemporary lending platform for people and small enterprises is called QuickCheck. QuickCheck provides small enterprises and individuals with access to financial credit through mobile technologies.
The platform claims that customers can quickly and easily obtain loans up to 30,000 Naira for either a 15- or 30-day term without requiring any security. >> Apply Here
The main purpose of C24 Limited, a microfinance organization, is to provide people with a way to take advantage of possibilities in their community by assisting them in getting financial loans when they need them.
C24 is aware of the demand for quick loans and the need for faster loan processing times. To help applicants escape the anxiety associated with other lending organizations, their online loan application process has been optimized. >> Apply Here
OneFi is a credit facility company that formerly went by the name One Credit and provides short-term consumer loans to borrowers with good credit who have little access to capital.
The normal One-Fi loan payback cycle lasts three to twelve months, and loan amounts range from N40,000 to N2 million. >> Apply Here
Small and Medium Enterprise (SME) financing and company loans are offered by GroFin across Africa and the Middle East. GroFin is your greatest short if you have investable figures and want to grow your company.
Businesses can obtain business loans from $100,000 to $1,500,000 with GroFin. You can submit your online application here if you believe your company meets the requirements. >> Apply Here
A digital loan lender in Nigeria is called KiaKia. Millions of people and SMEs without credit histories can get direct and peer-to-peer personal and business loans from KiaKia thanks to its proprietary credit score and credit risk assessment system, which uses psychometry, big data, machine learning, and digital forensics.
The word “KiaKia” means “Fast Fast” in the Nigerian language from which it was derived. They contend that the answer is not only quick and easy, but also extremely effective and efficient. >> Apply Here
An internet platform called Lidya gives small businesses access to financing. Small and medium-sized businesses can access unsecured loans from $500 to $15,000 through the website.
Lidya uses technology and algorithms to assess the risk before granting loans. This allows them to offer financial products to these customers at a low cost. >> Apply Here
How can I borrow money to start my business?
- Visit the companies website
- Choose a loan plan
- Check the requirements
- Upload the required documents
- Then apply
Always ensure that you upload the required documents and that they are original copies.
Who can help me with money urgently in Nigeria?
Well, the above-listed loan companies can issue you a loan without stress. Need money urgently to pay your school fees or to start a business, the best idea is to get a loan from a registered loan company in Nigeria.
Need a quick loan in Nigeria? Drop your comments below lets help you out.
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