Loan Companies in Nigeria: Are you considering taking out a loan for personal use or business expansion? Struggling to navigate the overwhelming number of loan companies in Nigeria?
Look no further! In this comprehensive guide, we unveil the top 15 loan companies in Nigeria that can help you secure the funds you need.
From understanding how to borrow money from loan companies to discover the best loan company to borrow money for your specific needs, we’ve got you covered.
Let’s dive in and explore how to get a business loan in Nigeria or secure that personal loan you’ve been searching for.
Criteria for Ranking the Top 15 Loan Companies in Nigeria
To ensure that our list is as accurate and reliable as possible, we’ve taken into consideration the following factors while ranking the top 15 loan companies in Nigeria:
- Interest rates
- Loan tenor
- Maximum loan amount
- Collateral requirements
- Processing time
- Customer reviews and experiences
Read Also: Get N20,000 Naira in 5 Minutes without Collateral
Top 15 Loan Companies in Nigeria
1. RenMoney
RenMoney is one of Nigeria’s leading loan companies, offering a variety of loan products with flexible repayment terms. Their loan services include personal loans, and micro-business loans. Pros include competitive interest rates and fast processing times, while cons may involve limited loan amounts for first-time borrowers.
Check Out: Top 20 Urgent Loan Apps in Nigeria
2. Carbon (formerly Paylater)
Carbon is a popular online lending platform in Nigeria that offers instant loans without the need for collateral. Their products include personal loans, business loans, and bill payments. Carbon’s pros are fast loan processing times and minimal documentation requirements.
On the other hand, the cons of Carbon loans include higher interest rates for short-term loans. You can access this company loan via their website, or by downloading the Carbon App.
3. Page Financials
Page Financials is a reputable loan company in Nigeria that offers a wide range of loan products to cater to different financial needs. Their loan services include personal loans, business loans, and investment loans.
The pros of Page Financials include competitive interest rates, flexible repayment terms, and excellent customer service, while the cons may involve collateral requirements for some loan products and a more stringent loan approval process.
Borrowers can access loans worth up to N5,000,000 from Page Financials with low interest rate of about 3.1%. The loan repayment term ranges from 3 to 12 months.
4. Aella Credit

Aella Credit is a Nigerian loan company that focuses on providing hassle-free loans to both individuals and businesses. Their loan services include personal loans, business loans, and salary advances.
What makes Aella Credit stand out include competitive interest rates, a simple online application process, and flexible repayment terms. On the other hand, the cons may involve collateral requirements for larger loan amounts and a lengthy loan approval process.
Borrowers can apply for a loan of up to N1,000,000 from this loan company for a period ranging up to 365 days.
See Also: Loan Apps that Give 5,000 Naira Loan in Minutes in Nigeria
5. FairMoney
One of the fastest-growing loan companies in Nigeria that specializes in providing personal loans and small business loans is FairMoney. Their loan offerings include personal loans, business loans, and education loans.
While the Fairmoney loans may come with higher interest rates for first-time borrowers and lower loan amounts, the pros include a seamless online application process, no collateral requirements, and quick loan disbursal.
The company offers loan worth up to N500,000 to eligible borrowers, and the loan terms and conditions are very flexible.
6. Zedvance
Zedvance is a Nigerian loan company that specializes in providing consumer loans and personal loans to individuals and businesses. Their loan services include personal loans, business loans, and consumer loans.
The pros of Zedvance include competitive interest rates, a simple online application process, and flexible repayment terms, while the cons may involve collateral requirements for larger loan amounts and a lengthy loan approval process.
Zedvance loan amount ranges up to N5,000,000, with amazing repayment terms of up to 18 months.
Read Also: How to Get 100K Loan in Nigeria without Collateral
7. Branch
Branch is one of the most innovative online loan companies in Nigeria that leverages the power of technology to provide quick and easy access to personal loans. Unlike other loan companies on this list, Branch only offers personal loans ranging up to N500,000.
The pros of Branch include a user-friendly mobile app, flexible repayment terms, and no collateral requirements. On the other hand, the downside of Branch loans may involve limited loan amounts for new customers and higher interest rates compared to traditional banks.
8. QuickCheck
QuickCheck is an online loan company in Nigeria that uses cutting-edge technology to provide fast and affordable loans to individuals and businesses. This company offers quick loans ranging from N1,500 and above to eligible borrowers.
The pros of QuickCheck include a simple online application process, no collateral requirements, and competitive interest rates, while the cons may involve lower loan amounts for new customers and a short repayment period.
Check Out: 30,000 Naira Quick Loan without Collateral
9. C24 Limited
Another legitimate loan company in Nigeria that offers quick and hassle-free loans to individuals and businesses is C24 Limited. Their loan offerings include personal loans, business loans, and salary advances.
C24 Limited loans come with competitive interest rates, a straightforward online application process, and flexible repayment terms. However, they may involve collateral requirements for some loan products and a more stringent loan approval process.
Eligible borrowers can enjoy loans worth millions of Naira from C24, and the interest rate is 4% monthly. The loan period ranges from 3 to 9 months.
Related: Top 9 Loan Websites in Nigeria
10. PalmCredit

PalmCredit is a popular online loan company to borrow money in Nigeria. This company offers instant loans without the need for collateral or paperwork
Just like Branch loan app, PalmCredit only offers personal loans, and the amount ranges up to 100,000 naira.
PalmCredit has an easy-to-use mobile app, quick loan processing times, and no collateral requirements. However, the loan service may come with higher interest rates for short-term loans and limited loan amounts for first-time borrowers.
11. Kiakia
Kiakia is a Nigerian loan company that provides quick and affordable loans to creditworthy individuals and businesses. Their loan services include personal loans, business loans, and short-term loans.
The pros of Kiakia include an innovative online application process, competitive interest rates, and no collateral requirements, while the cons may involve limited loan amounts for new customers and a short repayment period.
Check Out: List of Fake Loan Apps in Nigeria
12. FINT
If you’re looking for a P2P loan company in Nigeria, FINT is one. It is a leading online lending platform in Nigeria that connects borrowers with verified lenders.
Their loan services include personal loans, business loans, and education loans. FINT offers a diverse range of loan products, competitive interest rates, and flexible repayment terms.
You can access loans worth N20,000 to N1 million on FINT with an interest rate of 2%. However, you may need to provide collateral for some loan products, especially those with higher amounts.
Check Out: Top Peer-to-Peer Loan Platforms in Nigeria
13. OneFi
OneFi is one of the most reliable and fast-growing loan companies in Nigeria that offers a wide range of financial products, including personal loans, business loans, and bill payments. It offers loans worth millions of Naira with flexible repayment terms and competitive interest rates.
Without collateral, borrowers can access OneFi loans online via their website. The application process is seamless, so the processing and disbursal are fast.
However, as a first-time borrower, you may be limited to small loans, these loans come with higher interest rates, compared to other loan types offered by the company.
14. Lidya
Another fintech company to get a loan in Nigeria is Lidya. Lidya focuses primarily on providing small and medium-sized businesses with access to affordable credit.
Their offerings include business loans, invoice financing, and asset-based loans. The pros of Lidya include a seamless online application process, competitive interest rates, and no collateral requirements for small loan amounts.
However, the cons may involve limited loan amounts for first-time borrowers and a longer loan approval process.
15. Credit Direct
Credit Direct is a leading loan company in Nigeria that offers a wide range of loan products to cater to different financial needs. Their loan services include personal loans, business loans, and emergency loans.
The pros of Credit Direct include competitive interest rates, flexible repayment terms, and excellent customer service, while the cons may involve collateral requirements for some loan products and a more complex loan application process.
That (Above) is a list of loan companies in Nigeria. However, if you are still confused on the one to go with, we’ve gathered some factors to consider.
Factors to Consider When Choosing a Loan Company
Before you decide on a loan company, consider the following factors to ensure you make the right choice:
- Your financial needs
- Interest rates
- Eligibility requirements
- Repayment terms
- Ease of application
- Customer service
Conclusion
With the information provided in this article, you should now have a better understanding of the top 15 loan companies in Nigeria, including the pros and cons of each.
As you explore your options, remember to weigh your financial needs carefully and choose the best loan company that meets your specific requirements.
Lastly, always practice responsible borrowing and make timely repayments to avoid damaging your credit score and maintain a healthy financial standing.