Most often, many individuals and business owners might need extra cash to handle some financial issues around them. In times like this, when all means of getting money have been exhausted, the best alternative is to consider getting a quick and easily affordable loan online.

The process of accessing quick loans in Nigerian banks is lengthy and tedious for any individual who is only looking to access a small loan for a short period. Thanks to the Fintech revolution in Nigeria, online lending startups are making it easy for businesses and individuals to access quick loans when needed.

Here is a list of Nigeria’s top 10 mobile apps for online business and personal loans.

1. RenMoney

Renmoney is a lending company that operates as a microfinance bank in Nigeria. The company prides itself as the most convenient online lending company for businesses and individuals in Nigeria. It provides convenient loans to meet needs like growing your small business, renovating your home, buying a new car, paying rent, school fees, medical bills, etc. You can get up to 6 million Naira for up to 24 months.

Download the RenMoney App to get instant access to credit.

2. Carbon

Formally known as PayLater, Carbon is an easy-to-use 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 Carbon, you can instantly access up to a 1,000,000 Naira loan without 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.

Download the Carbon App to get quick and flexible loans at affordable rates.

Also Read: Top 5 Legit Investment Apps to Save & Grow Your Money in Nigeria.

3. Palmcredit

PalmCredit is a virtual credit card that makes it easy to access a loan anytime and anywhere. Palmcredit offers loans of up to ₦100,000 within minutes on your mobile phone.

With PalmCredit getting a mobile loan is simple. Apply for your credit limit in minutes, then take as many instant loans as you need without further approval. It’s a credit revolution!
As soon as you repay, your credit score is updated. Repay on time and watch your limit grow to N100,000.

Download the Palmcredit App to get instant and flexible loans at affordable rates.

4. Branch

Branch is a simple yet powerful mobile loan app in Nigeria and Kenya. Getting quick and instant loans on Branch App is so fast and easy. It will help you sort out your financial issues in real-time.

Branch offers loans from ₦1,500 to ₦150,000. Loan terms range from 4 – 64 weeks. Interest ranges from 14% to 28%, with an equivalent monthly interest of 1% to 21%, depending on the selected loan option.

Download Branch App for access to quick and instant loans.

Also Read: 10 Small Businesses That Make The Most Millions In Nigeria.

5. QuickCheck

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.

You can get the QuickCheck App on Google Playstore.

6. Aella

Aella is building platforms that make it easier for African individuals to access 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, 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 and their debt-to-income ratio.

Download Aella App now to get started.

7. Lendigo

Lendigo is an SME finance provider that offers Nigerian SMEs easy, fast, and flexible access to working capital according to their business requirements and suited to their finance needs. With Lendigo, you can access business loans from 100,000 Naira up to 1,000,000 Naira.

By installing our Loan App on your smartphone, you can easily apply for a loan at a very low-interest rate and get it credited straight into your bank account, even if your business is not registered.

Download Lendigo App now to get started.

Also Read: Five ways to get funds for a startup business in Nigeria.

8. FairMoney

FairMoney offers short-term loans to help cover urgent needs, bills, business, and more. They give access to loans anytime and anywhere with our loan application within 5 minutes.

FairMoney packages include personal loans, education loans, business loans & more. With the effective use of technology, they can provide a speedy and efficient loan app to all our esteemed customers.

9. KiaKia

KiaKia is a mobile web app that gives you access to personal and small business loans and also enables savers to lend out funds at negotiated interests through intuitive conversations.

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.

Click here to visit Kiakia mobile web app.

10. OKash

OKash is a micro-lending platform presented by Blue Ridge Microfinance Bank Limited. It gives its registered users access to quick collateral-free loans as long as they meet the requirements. You can get loans from 3,000 Naira to 500,000 Naira.

OKash provides loans 24/7, and the whole process is entirely online. Users can download OKash from Google Play and set up their loan account in seconds, select their preferred bank account, link their active bank card for repayment, fill out a set of questions, and get a decision on their loan application in minutes with paperless.

Download the OKash App to get started.


While most of these platforms claim to offer quick loans without any collateral, it is advisable to carefully study their Terms & Conditions (T&C) before throwing in an application.

Another factor to consider is the interest rate and payback period. As a business, you will not want to go in for loans with a very short payback period unless you are sure you will earn back the money in no time.

Categorized in: