Getting a loan is one thing people consider as a big thing and often attribute it to Banks only with much stress of sorting for a good collateral. No doubt, it was a thing for Banks and Micro Finance Banks only, but recently, Individuals are giving out loans and they are making it very easy and accessible for everyone who’s ready to take a credit.
When applying for a loan you must understand the very fact you must pay back this loan with interest, paying loans makes credit worthy. It will interest you to know that when ever you get a loan from a certain company account, your activities of your account with that credit company is reported to several credit bureaus. If your records are good, you maintain being credit worthy, if bad, your credit score will drop and won’t be able to get credit anywhere.
Here Are Some Loan Companies to Conside
Grofin ranks the first here because it very smart and more considerate among all others. Its provides Small and Medium Enterprise (SME) finance/business loans across Africa & the Middle East. If you have investible numbers and you looking to expand your business, then GroFin is your best short.
With GroFin, you can access business loans between US$100,000 and US$1.5 million. If you think your business has the required checklist, then you can submit your online application here.
SMEDAN is a government-backed initiative to offers smart business loans to Nigerian SME’s businesses in need of financing. The core mission of the organization is to promote entrepreneurship among Nigerians and also provide capital to start the business.
Apart from funding, SMEDAN also provide business owners with hands-on training and support to help them run their business. If you would like to apply, click here to access their online application portal.
Lidya is an online platform that provides quick finances to business owners. The platform offers small and medium-sized businesses with unsecured loans of between $500 and $15,000.
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.
* AELLA CREDIT
Aella Credit is building platforms that make it easier for individuals in Africa to gain access to financing. Mainly focused on employee lending and empowerment, the company was affiliated with three main credit bureau agencies in Nigeria to provide quick and affordable loans with no paperwork to its customers.
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.
Zedvance is a consumer finance company committed to providing consumer credit to individuals. You can borrow up to 3 Million Naira in less than 24 hours.
The company specifically provide loans to salary earners but if you are a businessman and working as well you can apply for loan here and boost your business.
Paylater is an easy and entirely online lending platform that provides short-term loans to individuals and small businesses in Nigeria to help cover unexpected expenses or urgent cash needs.
With Paylater, you can access up to 500,000 Naira loan with no collateral. Once your application is approved, funds are typically received within 1 – 3 business days. Making on-time repayments can grant you access to higher credit limits for your next loan.
KiaKia is a digital money lender for Nigerian businesses. KiaKia utilizes 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 information.
The name KiaKia was derived from a Nigerian language which means “Fast Fast”. According to them, the solution is very simple and fast, but highly effective and efficient.
QuickCheck is a modern lending platform for individuals and small businesses. QuickCheck uses mobile technology to enable individuals and small businesses to gain access to financial credit.
According to the platform, users can access quick and hassle-free loans of up to 30,000 Naira without any collateral for a duration of either 15 or 30 days.
* FAST CREDIT
FastCredit offers loans to business owner both small and medium enterprises to support their business growth. The loans are backed by guarantors and are for a maximum tenor of 6 months for business owners that meet the criteria.
Apart from business loans, they also offer simple and fast ‘all-purpose’ cash loans to employees of corporate such as the banks, TELCOs, Insurance/other financial institutions, FMCGs, Pharmaceuticals, Aviation, Oil and Gas employees etc to enable them urgently meet their consumer needs.