The beginning of a business loan in Nigeria without a deposit

The beginning of a business loan in Nigeria without a deposit

A large part of the unavailability of debt in Nigeria is due to the fact that there are no loans. In fact, businesses are easily available in the country. However, these loans require strict criteria and qualifications. Therefore, this is why they seem to be unavailable. One of the strongest obstacles in the early stages is the provision of collateral. This is because most startups do not have current assets, with most commercial loans disqualified. But here is a list of companies that provide startup business loans in Nigeria without any collateral.


Top 13 Nigerian Startup Business Loans without Securities


The following are the securities business loan providers in Nigeria:



It is an organization that provides investment services for all businesses in Africa and the Middle East. Also, their coverage includes several names from South Africa, Nigeria, Ghana, and Ivory Coast and funds small and medium-sized enterprises. In context, Grofin provides a maximum of 1.5 million.



Smedan Finance exists and this results in the development of small and medium enterprises. However, they not only oversee the business in these areas but also have integrated, start-up, and policy concepts, which in turn help them grow.

It is an online platform for startup business loans in Nigeria, Europe, and the United States without any collateral. Therefore, Lydia gives you the opportunity to expand your business and earn more. Their loans are available in three easy steps and offer a running amount in the millions.


Aella Credit:

Ella Credit is a mobile fintech company that uses the power of technology to reach out to SMEs. Also, Nigeria and other West African countries aim to include financial products and pioneer their financial inclusion. They continue to grow day by day.



This is another ending donor company that does not claim collateral. Zedvance allows you to apply N5 million to everyone with a validity of up to 18 months. Surprisingly, you can finish the whole process and submit it within minutes.

business-beginning-loan-in-nigeria does not consider your credit information to provide you. Instead, they use a complex machine learning and digital forensic algorithm to credit-score you. If successful, you will be given enough access to your business loan. Kiyakia currently provides loans to millions of individuals and SMEs across the country.


One Fi:

ALE or formerly known as credit is a loan company that provides short-term services to SMEs. However, they do a background check on your creditworthiness before approval. Their loan term is around 3 to 6 months and a maximum of N200,000.



C24 is actually a small business company set up to help people realize their dreams through business. They do this by providing the necessary financial access without collateral. Also, C24 24 times is much faster than the usual rate and you can easily process their application online for access.


Specta by Sterling Bank:

It is one of the fastest-growing siding providers providing financial services to SMEs and individuals. Spica is owned by Sterling Bank and allows you to reach N5 million in 5 minutes. In addition, it is easily accessible and available to corporate and business owners.


Fast Credit:

Quick credit provides you with short-term loans to support the growth of your business. However, it is inevitable that the guarantors support the byes, even though there is no collateral. In addition, it has a maximum of 6 months in case of qualified business.



Although they provide initial business loans without any collateral, the branch has a maximum limit of N150,000, which is quite low. However, they also provide loans to startups and individuals who want to plug instant financial gaps.


Carbon (formerly paylater):

Pelter, later renamed Carbon, is a completely online payment platform that allows you to get loans as a startup. In addition, NN extends up to N500,000 and does not require collateral. Surprisingly, their application process is smooth and they deliver funds within 1 to 3 days of your application. Also, paying your time on time suggests more access to your next one.



Qiupai is one of the best online financiers that provides loans to businesses and individuals through their employers. Also, they reduce the amount you take from your monthly salary. Moreover, QUPI provides debt up to N2 million, which is very impressive.


Read also:
How to Get Startup Business Loans in Nigeria
Business loans in Nigeria explained / Provide Employment with Your Business
Uber Drivers: How to get a car loan in Nigeria
NYIF Application Form 2020 – Register for Loan


Conclusion of The beginning of a business loan in Nigeria without a deposit

These companies have made it easy for citizens to use startup business loans without any collateral. If you want to start a business, you must look for one to serve them. However, before seeking the help of a financial expert, try to study other details of the loan.

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