How to Get a Soft Loan in Nigeria without Collateral

by

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.

Check More about the author below to get financial help.

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. Study just released Down Payment Assistance products.

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. It’s more complicated than getting a loan in Arkansas.

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.

One of the perks of becoming a member includes obataining soft loans without any collateral, there’s even the option of obtaining student loans!

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 like those mentioned on sites like https://www.talkaboutdebt.co.uk/debt-solutions/iva/, can give weekly pay back 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.

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.
Source: https://www.evergreenfunders.com/small-business-loans-for-women-2018/.

300 thoughts on “How to Get a Soft Loan in Nigeria without Collateral”

  1. Please I need a loan of 200,000 (two hundren thousand naira) for fabric business and house rent! Please I really need this and will pay back in 12months.
    Thanks

  3. Hello, my name is Anthony Osonwa, I am a chat moderator. I’m in a debt of about 400,000 naira, I need help to pay up my debts. I will pay monthly for 1 year to cover up the loan money.
    Please accept my request. I have had a bad year already, I even contemplated suicide because I couldn’t raise the money in this short period. Thanks.

  4. Sir pls i need a loan of 500,000 to start my fish farming after i had completed one year traning on fish farming, and also on buying and selling of food stuffs. pls help me out

  5. I need #900,000:00 loan to set up a business and settle some of my outstanding
    debts and to face only your own to pay with #50,000 monthly from my salary. When can I get it 30346411277 first bank Anthony Peren Paul.I work in federal medical centre Yenagoa

  11. Good day….pls am in need of a 500,000 naira loan for both school and business and I will pay back in 7 months time….pls I would really appreciate it if I am considered.. Thanks…07011676055

  19. Popoola olubayo, i need loan of #300,000 for my water business, u can call me on dis number 08163522468. I will pay it back in 7month, i live at badagry lagos, my account UBA bank 2089953343.

  21. Please I need a loan of 300000 to enable me fix my car which I just recently started using for my transport business and my engine unfortunately knock down after 3days of my commencement. Please help as my family is looking up to me at this festive period which fortunately is the peak period for this business.

  23. I need a loan of 200-300k for business I will be paying monthly please anyone that can offer me such loan should contact me please is urgent 08138088907

  31. Hi my name is nnaoma rejoice. i base in lagos state
    pls i need a loan of about 200 thousand naira,i want to use it to support the little business am doing.i will pay back in 3months time.thank u very much as you comply

  33. Pls I need a loan of 250,000 to start a cosmetic business am a salary earner,civil servant but just to add the business to my monthly income I promise to pay back

  37. Good day sir, i would like to apply for a loan under your reputable organization, am a young girl of 24years, a graduating student of ADEKUNLE AJASIN UNIVERSITY AKUNGBA AKOKO ONDO STATE, Nigeria, for the past years its not been easy…
    I then make a decision to get a loan in other to start up a clothing and accessories business in other to earn a living… With just N30,000 i can start up something….I promise to payback on or before the stipulated time..
    I will be glad if my request is been given a favourable consideration Thanks in anticipation.

  38. My name is Odey Pius,please I urgently need a loan of N400000 to finance my little business for period of 4months,I promise to pay back at any interest rate.please i don’t have a collateral but i can leave my result with you with the condition to get it back after the pay back. I can also come down to wherever you may be to help me and follow you to the nearest police station to sign any required document to prove how serious i need this money to fund my business before the loan is issue,please do not ignore me,
    Remain blessed in lord,this are my contacts below,
    call:08082485897,08104835817,09066205571.
    whatsapp:09066205571
    email:piusodeyogmadewu@gmail.com

  42. how do you intend to help people if all you do is to remove the contacts of would be lenders. you get paid for traffic on your blog but deny people of their little privilege.

  50. with regards, I Need a soft loan of N800,000 Naira to grow up my Small business payable in 12 Months starting from the month i collected it. 08138100051…

  52. Pls i need 200000 naire in order to boast my business my details are acctno:0093477292, acct name:pilisa nyizoma samuel, acct type:diamond, my phone no:08075617160.

  53. I am pilisa nyizoma samuel am looking for a help of 200000 naire in order to boast my business and i will pay back in the next one year here are my details Acct No:0093477292, Acct name:pilisa nyizoma samuel Acct type:diamond bank, pls don’t ingnore me thanks. Phone no:08075617160

  57. Please I need a loan of 1000000 to make a progress in my business. I will pay back in 6month my contact is 08026574741, 08102638916 . call me mummy Amaka

  58. pls I need a loan of 100000 thousand Naira to futher my education this my number 08093122952 bank details fidelity acctno 6552029224 name emeka Samuel savings account,I will repay in the next 4months time.

  65. I need a Loan of N500,000 to boost my business, I have a Registered Limited Liability Company (Born2Succeed Global Impex Limited). I promise to pay back with interest in 9 months, you can contact me on my phone numbers 08067504901 or 08151111334. Thanks. God Bless.

  66. My name is Emmanuel from abuja, I need an urgent loan of100k for business , payable with 30k monthly installment for 4months. = 30×4 =120k. Any interested lender should contact 08065075805 for further discussion.

  72. pls I need this money 300,000within a month to run my business I promise to pay back in the next three month these are my numbers 08060445433 08094812404 thanks

  75. Dear Sir/Madam,
    My name is Joy. I am very much in need of a soft loan N600,000 to proceed with mini importation business from China, majorly on fashion and hair accessories. Pls I sincerely need this loan. I will pay back in 12 months installment inclusive interest. Kindly contact me on 08075494221.

  78. please. I need a loan for my business. Am at the verge of sealing a contract deal but am out of cash to finish this process, please whoever is ready to help can contact me on 07032250196. i am an open person and ready to allow you monitor each of the steps made with the money.
    once i am mobilised for this project, i promise to refund you immediately.

    Thanks for you co-operation in advance.

    AO Daniel

  83. Please i need a loan of #200,000 naira and i will pay #250,000 naira in 9 month – 1 year.

    Please i urjently need this money to procced my lucreative business, i have parnered with most companies but just need this loan to add my capital. I can get you all the requirements needed to get this loan.
    Thank you.

    Daniel Eleanya Okoro
    Phone: +2349024984405
    Email: danieleleanyaokoro@gmail.com

  92. pls I need a load of 500k I will pay back in 2months time pls am in to oil business pls I need it from now till Monday pls you can reached me on this 08065559627

  94. PLEASE SIR, I NEED A LOAN OF N500,000 NAIRA TO START A BUSINESS. I REPAY BACK IN 12 MONTHS TIME. THIS IS MY PHONE NO: +2348080613611. I SHALL BE GLAD TO HERE YOUR RESPONSE. THANKS.

  95. pls my name is chima I need a loan of #150.000 urgently I am an event decorator.. and I wish to spread d payment for 12months please kindly help me out.. this is my number for more conformation 08186306187.. thank u.

    • Dear Mr. Mr. I urgently require a loan of N150.000 am a salary earner l will pay in three months with whatever interest you charge along please. Am willing to give you a posted cheque for the said amount from my salary account as security please.my phone numbers are 09031598729 and 09069369829.

    • Gud Day Sir,pls I Need A Loan Of #300,000 Naira To Invst In A Bussiness,I Wil Pay Bk In 12months Tym But I Wil Be Paying #25000 Every Month Nd I Wil Start From The First Month I Recive Dis Loan, I Wil Be Removeing Half From My Salary Half From D Bussiness Thank U Sir

  105. Good evening Sir. I don’t know how genuine this is but It seems you give loans. Please I am in need of about #500000 loan for PG school fees. if you give, what is your interest rate and can I payback in 12months? I am a civil servant

  113. Please I need a loan of 30000 to boost my business, am not a salary earner an I don’t have collateral but I promise to pay installmentally within the period of 3 months

  115. I am into Agro business, all i need now to supply Some customers in local villages is sum of #250,000. In less than 6 months i will pay back + interest. Thanks

  119. hello, I’m Joseph by name.

    I’m a graduate of English waiting to go for service.

    I need a start up loan of #1,500,000 to start up a gadget business. The gadgets would be sold through online marketplaces like Jumia, Konga, SMEhub, Jiji, etc.

    if you think you can help with the loans, contact my email: joephil17@gmail.com

    Loans will be paid back within 12months.

  124. My name is moses osayande my main business in and selling, Please sir i need a loan of one million,to boost up a business i know no much but i don’t have enough capital to finance the business. Please if i get the opportunity of a loan from organisation i will pay in within 12 months, please contact me with number 08124077831 or 07056665111 or email me osayandemoses@gmail.com

  125. Hello, am an undergraduate student and I need N650,000 to start a pineapple business. I have experience in the field and can cope with schooling and working, I’ll appreciate it if my request is granted. Thank you.

  137. I am Okpala Izunna from Enugu state.please i need a loan of 400,000 to start up recharge card printing business..The loan will be paid back in 6months.Thank you. Phone:07068675273.

  138. Please Sir, I am a young female graduate who’s got no job, but fortunately I just underwent training on fashion design and successfully completed it. I have clients around me but no office yet to display and commercialize my skills. Please Sir,kindly loan me with the sum of #200,000 to set up my business. I promise to pay back in 6 months time. please here is my number….07035056650.

  139. Am olabisi , i am a teacher and also a part time student. I need a loan of 100, 000 urgently to enable me pay my school fees. I am a salary earner and have a salary account with GTB.

  151. 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.

  152. 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

  155. 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

  158. 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.

    • Please I need a loan of 1000000 to make a progress in my business. I will pay back in 6month my contact is 08026574741, 08102638916 . call me mummy Amaka

  181. 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.

  185. 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

  189. 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.

  190. 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

  194. 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.

    • 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

  201. 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.

  203. 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.

  204. 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.

  205. 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

  208. 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

  210. 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

  212. 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

    • 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

    • 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

    • Dear sir, my name is Julian Onyea, am a civil servant am now on transfer to the North. I want a loan of about N150.000 to set up a business for my wife to reduce the pressure of demand on me while am away. And this amount is payable in monthly instalment of 50k for three months whatever interest applicable will be paid also. I will be grateful if am granted this offer my phone. 09031598729.

  220. 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

  224. 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

  225. 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.

  226. 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

  227. 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

  230. 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

  231. 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

  232. 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.

  233. 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

  234. 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

  235. 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.

Leave a Comment

error: Content is Read-Only!!