unsecured business loan in nigeria

Top Nigerian Business Loans without Collateral

Nigeria is one of Africa’s most vibrant countries, with numerous successful businesses. However business in Nigeria can be challenging, as the majority of businesses require collateral before offering a loan.

This can be problematic for startup businesses that may lack collateral. In this blog post, we’ll discuss some of the best no-collateral Nigerian business loans.

In a country where businesses are frequently required to collateralize loans to obtain financing, it can be challenging for entrepreneurs to obtain the funds necessary to expand their ventures. However, some lenders will make business loans without requiring collateral, and I’ve compiled a list for you.


What are Business Loans Without Collateral?

Business Loans Without Collateral are also referred to as unsecured business loans, which means that a business or startup can obtain loans of varying amounts without pledging assets or collateral to the lender.

Requirements for Nigerian Business Loans without Collateral

The requirements for obtaining an unsecured business loan vary according to the lender or credit company. When applying for a business loan without collateral, some lenders will require certain information such as the incorporation certificate to verify your business with the CAC (Corporate Affairs Commission), the CEO’s name and personal information, and bank account information.

How to Apply for Nigerian Business Loans without Collateral

To apply for a business loan without collateral, you must first locate a bank or credit facility that offers unsecured loans to startups and small businesses; there are numerous banks and private sector companies that offer these in Nigeria, which I will list below.


Then you must consider the interest rate and period of the loan you wish to obtain, as unsecured loan companies and banks charge higher interest rates to cover any unforeseen circumstances.

Where can I apply for an unsecured Business loan?

Acquiring an unsecured business loan without collateral is quite simple in Nigeria these days, as long as your business meets the basic requirements and is approved. The following lending institutions offer business loans without collateral.


Lendigo is a fintech company that provides loans and financing opportunities to small and medium-sized businesses (SMEs).


They affirm that they provide small and medium-sized businesses with rapid and flexible access to working capital without requiring collateral.

They offer loans to retailers and professionals, as well as merchants of general merchandise such as electronics, computing, phones, fashion and apparel, and household goods.



Lendigo does not offer large amounts to new businesses attempting to use their credit program for the first time; there are requirements and eligibility criteria that your business must meet to access large amounts. These requirements and eligibility criteria include the following:

  1. Your business has been operational for at least one year.
  2. Your business can demonstrate a monthly revenue of at least N250,000.
  3. You have a spotless credit record.

Lendigo Loan Offers

Lendigo provides business loans without collateral ranging from N300,000 to N10,000,000.


Lendigo Loan Duration

The repayment period for a Lendigo Loan is between one and six months.

Lendigo interest and fees


Lendigo charges a 1% processing fee and interest rates begin at 4.75 percent per month.

How to apply for Lendigo Loan?

If you are interested in applying for a lendigo business loan follow the steps below;

  1. To apply visit their official website.
  2. Sign up for an account
  3. Create a profile and submit the required documents.
  4. Apply for a loan, get approved, and receive your loan in the bank account provided.


SukFin is a loan company that connects lenders and SMEs, Entrepreneurs through their platform. They provide a variety of loan services, including unsecured loans. They have loan packages for both new and established businesses, with a minimum loan of N100,000 available.


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