How to Get a Soft Loan in Nigeria without Collateral

Are facing financial challenges and just wish you could get a soft loan with the hassles of providing collateral?

The Nigerian economy can sometimes become financially unfriendly and a loan can be of great help to remedy this situation.

This can range from financial challenges with your business or even your personal daily life.

The devaluation of the Naira has caused price hikes and plans that you had might be affected leaving you stuck without enough finances to augment.

In order to survive this financial challenge you can obtain a soft loan.

But I don’t have any collateral to do such you might say.

However, there is a way out.

It is possible to get a soft loan in Nigeria without any form of collateral.

This is most especially important for small and medium enterprises, to help them grow their business.

Sources of Soft Loan in Nigeria without Collateral

Cooperative Societies

So many organizations have developed a cooperative society to help with different types of challenges.

In order to benefit from cooperative societies, you must be a member.

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One of the perks of becoming a member includes obataining soft loans without any collateral.

This can be paid back based on the agreement reached and signed by both parties.

Genuine Microfinance banks

The micro finance bank as the name implies is a financial institution feared specifically for low income earners. They also cater mostly for small and medium scale businesses.

These Micro finance banks can give loans to businesses with lower interest rates when compared to the commercial banks. The loans are also given without collateral.

There is however, a signed agreement capturing a payment plan agreed upon by the beneficiary.

Business Angels

These are private individuals who are financially buoyant and have the keen interest of helping small businesses grow.

The challenge here is how to identify them as they make no announcement as to who they are.

You can obtain loans from Business Angels based on trust.

An agreement is then reached and you are given the loan without any collateral.

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Federal Government Agencies

The Federal Government has several schemes that provide opportunity for growth to small businesses.

An example is their focus on agriculture. There is a scheme that provides soft loan for farmers without collateral and they are allowed to pay back based on an agreement.

All you need to do is find a scheme for small businesses and you will be able to apply to get your collateral free loan.

Revolving Loan Schemes

This is a simple scheme that has been in existence for a long time. It popularly called “Adashe” in Hausa, “Esusu” in Yoruba and “Utu” in Igbo.

It comprises a small group of trusted members who pull funds together weekly or monthly. Each person contributes an agreed amount and at the end of the week or month the lump sum is given to one person and the process is repeated until all members have benefitted.

This is a quick way to raise funds without collateral.

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105 Comments

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  1. Rotimi Shittu

    I am into Cement Stabilisef bricks which is one of good business here in the northern part of Nigeris. I neef soft loan of N500,000. Thanks

  2. ibrahim oyeniyi

    i need loan 400,000 my email.oyeniyibabawale@gmail.com

  3. Sa'idu Sani

    I need to secure loan of #980000 (nine hundred and eighty thousand naira only). For the supply and rearing of livestock.I will be grateful if my request is granted urgently.

  4. Afolabi Racheal

    Pls I need an urgent loan to bust my business for Xmas and new year sale in which I promise to pay back installmentally pls I will appreciate it if I favourably granted

  5. Ibikunle Olatunji

    Pls I need a loan of #500,000 to bust my laundry and dry cleaning bussiness. Please contact me lukhab@gmail.com

  6. Nwabueze

    Sir, pls i really need an urgent loan of 500,000 for maintainanc & working capital on my agro palm oil processing industry, i need it so urgent, we are almost the business season so as to meet up the season, phone: 08065020256 Email: chinoben75@gmail.com

  7. Charles

    Pls sir, i need a loan of 400:000naira,four hundred thousand naira to start up a business…i will payback with interest if my request is favourably granted….
    Am from ikorodu lagos
    my contact: 08030720234

  8. Joseph Agboola

    Am in need of 100,000 naira to buy okada and i will be paying back monthly

  9. Ude Ikedichukwu Augustine

    Please sir am seriously in need of 1350,000 loan to start up a cyber cafe business. I will pay back with interest in 11months time respectively if my request is granted. My Email : udeikediaustine@gmail.com, phone Number : 08132293232

  10. kingsley

    Please I need a loan of #300000 to start up poultry farming business,I will pay up in 18 months,please help me out or contact me to someone that can help me,my contact is 08067575458,I am based in Ebonyi state.

  11. Samson

    please i need a loan to start up a business.

  12. Sifonobong Asuquo

    My name is Sifonobong Asuquo. I need a loan of 150,000 to be paid back in 4 months. my phone number is 08179754159. my email address is Asuquosifonobong@gmail.com. I will be grateful if my request be granted.

  13. Bello abiodun

    I need a loan of #20000 ,just to buy food stuff and i will pay back in 1 month.08102443077

  14. iyanu

    pls sir my number is 08062453399 God bless u sir

  15. iyanu

    pls sir I need a loan of 500,000 to set up a business I promise to pay instalmentally for 12 months. pls sir I will be the happiest person if my loan is granted

  16. Ferdinand Leo

    please i need a loan to start up business

  17. Ratzin

    Please i need a loan of 50,000 naira. I’ll pay installmentally for the period of 6months.
    08104056343.

  18. Mbadugha Precious

    sir I need 400000 to start up my cement business

  19. Innocent chinedu

    please sir, I need a loan of 300,000 naira for my business,I will pay back in 6months time,am very serious about pls help.

  20. Adewale falade

    please I need a loan of 30000 . I will pay back in 3 months.

  21. Abubakar alhaji

    I need a loan of #200000 for to set up car wash business.here Is my number 08171410114

  22. ijeoma

    pls I need a loan of 80,000pls if possible this is my contacts michaelsylviaijeoma72@gmail.com

  23. Londonu

    Pls,l need 400000 loan to set up a business,u can reach me on 08064064000 to further discussion/follow up.

  24. mark

    i need a loan if yes email us back uodcompany@gmail.com

  25. Ajibade Adesola Lydia

    I need a loan of 300000, i wil be paying monthly for 12month

  26. DEBORAH DIWENI

    pls I need loan of one million naira. is it possible? I word as a civil servant.

  27. dauda akeem

    I need N500,000 loan for my block industry I will pay back in 8 month

  28. Angela

    Good day, I need a quick loan of 800,000 for my business of food stuff supply in Abuja. I am not a salary earner is it possible? Please l need an urgent answer. Thank you.

  29. Lucy Mengel

    thanks for the loan

  30. yetunde

    Pls,I need loan of 500,000 to expand my business. I will pay within 1year. 08085076763. That is my contact.

  31. Isaac2016

    Hi sir, ma. My name is isaac, please i need loan of 300,000, i want to use it to enlarge my poultry. I will pay back in 6 months with interest. My number. +2348106817465. Email. Omowoyeisaac@gmail.com. Thanks

  32. sogbesan olabiyi. S

    I can’t understand what kind of moderation the msg need.

  33. sogbesan olabiyi. S

    Sir,I am civil servant can access loan from your reputable investment. I need just (#500,000:00).five hundred thousands naira only for Repayments with 12mpnths. I will be very grateful ,if my request is granted.

  34. Eka Obot

    I need a loan of #50,000 to pay back in 6months

  35. Ekwugha Stephen

    Good day sir,i would like to apply for 1 million loan can you be of help?

  36. Gols Charles

    Is this for real? Someone should answer me please.

  37. Amblessed

    My Name Is Muolokwu Amblessed. Am An Entrepreneur And A 300level Student Of Federal University Of Petroleum Resources, Please I Need A Soft Loan Of 300,000 To Make A Supply Of Field Work Materials To Student, I Will Pay Back In Less Than 3month With 10% Interest. My Tell: 08169212899

  38. ibibia clement horsfall

    pls sir i need 700,000 to startup electrical work shop and sales of electrical materials to repay back within 12months

  39. Christian Uche

    please I need a loan of 1million to start up a business, will pay back with internet in two month

  40. Christian Uche

    Good day sir, please I need a loan of 1million to start a business, will pay in back with internet in two month

  41. Obi Gideon

    My name is Gideon I have a registered business name on enterprises and I’m into farming and supplying of eggs, I will like to get a loan of ( # 500.000.00) Five Hundred Thousand Nira.
    Name of company: Donstica Enterprise
    Email: donnobi@gmail.com, donstica@gmail.com.
    Website:donstica.net
    Tell:08183688898, 08183689888’08078175471.

  42. Adiamo Sherif Adedotun

    Please I beg you people,have tried my best getting a loan online but no reply, I just hope I get reply from you people now, a #100,000 loan is going to change my life for good,am not just seeking for loan I already know what I want to use the money for,am gonna double the money with my hustle and I promise to pay back in three months time, please help me, am for real, things are damn hard this time, I hope to hear from you soon, please get back to me here adamondboss06@gmail.com or+2348181062147,am ready to give you people correct information you need to know about me, please again help me, may God help you too(amen). Hope to hear from you soon. Thanks

  43. Uma paul godswill

    Uma Paul

    I just finished school and I need a loan of 500,000 naira to start up a business

  44. precious

    pls i need a loan of 500,000 for my drycleaning bussiness what to enlarge and expand it. pls call me on 08105289861

  45. Josiah Martin

    I need a soft loan of #200,000 promise to pay back in six months.

  46. Daniel Chizurum

    My name Is Daniel. I am into producing of poly bags. i have customers who demand much quantity of the bags but i have not the capital to produce as much. I need a loan of up to 300,000 to finance this business. I will give back in six months time.

    1. Jennifer

      Please am a lawyer and practicing in Abuja, I need a loan of N400,000 to take care of some pressing issues, will pay back in 3 months. Reach me on 08031340198

  47. Mr Awagho Destiny.

    hello sire, am a business man I need a loan of #250,000. to bust of my business, within 5months..thanks sire God bless.

  48. Mr Awagho Destiny.

    hello sire, am a business man I need a loan to bust of my business, within 1year..thanks sire God bless.

  49. Tracey Anizoba

    Hi my name is Tracey Anizoba. I need a soft loan of 100,000. Into buying and selling of animal skin.

  50. Dickson David

    Am DICKSON based in IBADAN. I need a loan of 100,000 to expand my fish farm business. my contact no is 0803296####

  51. Akinlabi David

    I need a loan of #300.000 to expand my poultry farm business. 08032183340

  52. Barry Rigat

    Please kindly help with a loan of #500;000.00k to enable boost my block industry business. And to pay back with interest in a couple of 7 months

  53. Ngozi

    My name is Ngozi. I base in port harcourt. Pls i need soft loan of #500,000 to fund my poultry (broilers) farm. Already i have 200 2wks old broilers bt need to increase their numbers.

  54. tunde salako

    Hello sir,my name is tunde salako i need your help i want to start a poultry farming i mean layers birds all the money i need is just 200,000

  55. Michael Omakoji Sani

    I am a Writer with over 27books yet to be published. My books are centered on: Business, Management and Contemporary Issues. I need N850,000 to publish one of my books titled: Practical Approach to International Business (A Guide for Management Students and Business Practitioners).

    I will pay back the loan in 6months.

    Sir, please contact me on 08069605549 on how we can both work out the modality together.

    God bless you as you try to lift many out of poverty.

  56. Michael Omakoji Sani

    I am a Writer with over 27books yet to be published. My books are centered on: Business, Management and Contemporary Issues. I need N850,000 to publish one of my books titled: Practical Approach to International Business (A Guide for Management Students and Business Practitioners).

    I will pay back the loan in 6months.

    Sir, please contact me on 08069605549 on how we can both work out the modality together.

    God bless you as you try to lift many out of poverty.

  57. Daramola J.P

    I’ve got a couple of viable business ideas, not asking you to give me the money… rather asking for you to hear the business idea and analyse the business plan and then decide if you want to be a partner.

    one of the business ideas requires 6 million naira capital, out of which I am ready to invest 3 million naira myself.
    dreliberty@gmail.com
    07030611729

  58. Bunmi O.J

    In urgent need of N770,000 to start a foodstuff market. Every other things are in place. Thanks in anticipation.

  59. Solomon Osunniran

    Niran Solomon,
    I need a loan of N800,000 to start a printing press business.
    I will pay back as require. 08100973520

  60. Gbenguse

    Please Sir / Ma, I need a fast business loan for farming. I resides in Lagos, if there is anyway you can assist me. My numbers are 08062914904 / 08178268997

    1. Nwachukwu

      Please did you get the loan

  61. SUNNY

    I NEED A LOAN TO START FARMING BUSINESS

  62. Martin

    I am a writer, I’ve 18 works ready for publishing. These include children stories, thrillers, romance, detective stories, short stories, motivationals, comic and plays. I need a loan of #800,000 to publish 5 books at a time payable with interest within a year. I shall tour schools, churches and parks to sell them. Contact me through: martinlutherphinehas@gmail.com

    1. udey jacob

      pls sir I need loan to start business how may go abt it my name Udey jacob my no 08136885024

  63. Samuel

    I need a loan to do business 1m if u can assist me
    my number: 08132734###

  64. MR Segun

    Do you need a loan to setup a business of your own or to buy a car of your own or to build your own house are you a business man or a business woman or a farmer or a nurse or a doctor or a furniture maker and you need a loan in nigeria to setup your own business

    1. Ezekiel

      Please sire i am in need can u be of loan help to me I will pay back installmentally,Plsss sire,sire loan of 300,000.for wedding and house rentage.

    2. Ezekiel

      Please sire i am in need can u be of loan help to me I will pay back installmentally,Plsss sire,sire loan of 300,000.for wedding and house rentage.my number is 09052250003

    3. I am a young Medical doctor who just got an intern placement at the FMC Keffi…. There’s no accommodation provision for me and the location where I stay for now is disgusting… In need of a N100,000 quick loan. Since I have nothing to stand as Collateral, I will drop my practicing license and get it back after the two months repayment period… Let’s discuss whatever interest you’ll want back in return as I seriously need this loan within now and the next three days…. 07014140739

    4. akinloye adeolu felix

      am public servant i need a loan of one million naira to renovate my house in fct my contact no is 08050207298

  65. AKAN

    PLS I NEED #200,000 TO EXPAND MY PHONE ACCESSORIES IN AKWA IBOM STATE TO BE REFUNDED AFTER 18 MONTHS.PLS CONTACT ME ON 0706265####

  66. Joan obioha

    Pls I need a loan urgently for health purpose 200,000

  67. akin

    i need loan of #300,000 to start my business,pls help me get it.
    my no 07035047405

  68. Bimbola

    i need loan of 300,000 to start a daycare center and to return it monthly in 15months after please. kemo_oni@yahoo.com thank you.

  69. baba alaye

    Dear all, i need a loan of N3m for farming. Will pay back with interest in six months. My Email b.alaye@yahoo.com

  70. baba alaye

    Dear all, i need a loan of N3m for farming. Will pay back with interest in six months.

  71. Oloyede O.S

    Pls I need a loan of N230,000 to start up an animal farm in Lagos. I’l be willing to pay back both the principal and interest after 180days. Thanks Big

  72. Oloyede O.S

    Pls I need a loan of N230,000 to start up an animal farm in Lagos. I’l be willing to pay back both the principal and interest after 180days. Thanks alot

  73. Jennifer ofem

    please tell me where I can get loan from loan lender.I seriously need it.

  74. Rola

    Is it possible for me to get a loan of #50000… I can repay it back within 4 months.. I need it for health issues..
    #URGENT

  75. jay samuel

    Are you looking a loan with low interest rate contact (email removed) for urgent loan service.

    1. uti ifeoma

      please I need a loan of 200,000 very urgent.please get in touch with me

      1. Christopher

        I need a loan to expand my farm.

    2. Rotimi A. Smith

      How would people get in touch when there is no link(address)

    3. baba alaye

      Yes, i am very interested in d loan

    4. Ayomide Ade

      I need an urgent loan to acquire already running business. If you can offer me between 150000 to 200000, i will be grateful. My number is 07066210226

    5. Tracey Anizoba

      Pls i need a loan for my animal skin 100,000. My number is 08097890745

  76. jay samuel

    Hello sir/madam,
    If you need urgent work to establish credit, or you need a loan to pay off your debt,your need refinance loan? Do you need credit to buy a car or a house? If yes then worry no more, we offer all kinds of loans without credit check with an appropriate interest rate… contact us today by email. (Advert Email removed)
    Thank you

    1. Mrs Mudashiru Olasunkanmi

      I am a Fashion designer. I already have my working tools, but I need an office where I can showcase my work. So I need a loan of #200,000 and will start repayment after 6 month. Thanks

    2. Kemi

      I need a soft loan of 700,000 to fix my truck and cover the daily running operation cost incured for the month before the company I move goods for repays me. Loan will be repaid with interest within four months.

    3. Dickson David

      I need a loan of 100000 to expand my fish farm

  77. John Oniyide

    My name is John. My wife has a provision shop. We want to boost the shop and I also want to start a school. I need a loan of NGN200,000. Please get back to me.

  78. Mrs Mudashiru Olasunkanmi

    I am a Fashion designer.I already have my working tools but I need a place where I will be able to showcase my work. So I need a loan of #150,000 .I will start repayment after 6 month of collecting the loan. Thanks

  79. Rotimi A.Smith

    I need a soft loan of 1Million Naira to invest into scrap aluminium business.The Business Angel can call me on 08036016078 to discuss personal terms.Thanks

  80. solomon

    Am a fashion designer student at university of Nigeria Nsukka,pls i need #60,000 to pay my school fees i will pay back in four months time my number is 08086856924 and my email is kingsolocuche@yahoo.com

  81. Muhammed Saheed

    My name is Muhammed Saheed, l need loan of 1,000000 million naira. peddypedroenter@gmail.com 08100567078

  82. daniel niodo

    my name is daniel niodo, i own a small suit & cooperate wears business which i started from home, i need a loan or an investor to expand or invest in my business for interest or Roi (return on investment) payback. I want to rent a shop nd buy more stocks. I will really appreciate it if am been granted the opportunity. My phone 09058166639. My mail daniellonovo@gmail.com. Thank you

  83. elegbede Gbenga

    I am Corper Gbenga I need a soft loan of 200.000 to start a football betting business in an already game/computer centre…I will be willing to pay 300.000 back in six month time. my num is: 08188513654 E-mail:Gbenga1850@gmail. com

  84. Ezekiel

    I need N100,000 investment for a revolutionary Bulk SMS App that can pay the user upto N15,000 monthly. I will pay it back in 3 months on a 50% simple interest. Interested can email me at ntesat(@)gmail.com. Only resident of Abuja is accepted.

  85. ifeanyi

    Please i heed a loan of 500,000.00 only to start a mini-importation business from china which will be paid back in 12 months time. i reside in lagos, please for contact here is my line 07033072367.thanks

  86. Lordson Ugo

    Please am seriously in need loan for a tokumbo car of 2.5million for port harcourt rivers state airport taxi. The car will be bought on the name of the loan company, after minimum of 12months or maximum of 16months of pay back loan and all interest, the car document will be change on my name. Also for the car will be insured on comprehensive insurance policy for more security purpose. I intend to start making my own money after paying off the loan. please need this help urgently. My number 07081933744. Thanks. From Mr Ugo

  87. Melvin

    I would need a soft loan of 200,000 naira payable in a span of 6 months. With 50% simple interest. I.e at the sixth month 300,000naira at 50,000 monthly. Its not a new business, its already operational, just net to buy some facilities for expansion. Call 08030700477 for better clearification.

  88. YusufAbubakar

    Alhamdulillah;to hear this from you

  89. YusufAbubakar

    this is helping people like me;i need because of my health status.i need the loan .

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