There is this belief that most lending financial institutions only lend money to well-established businesses but there are also several reliable business loans providers in Nigeria that offers several options engineered to help business startups grow to become the next big business and the good thing is they are willing to invest in your business.
This article will share with you some of the top business loans providers in Nigeria that will give you that business loan you need to develop your business.
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Top Business loans providers in Nigeria
Here are the list of top business loans providers in Nigeria.
Carbon SME Loans
Established in 2012 by Harvard and Wharton business school graduate brothers- Chijioke and Ngozi Dozie, Carbon is a digital bank that provides a range of financial services and investment opportunities. Carbon is also devoted to helping SME businesses develop their business at a cheap fee(interest rate), with no collateral or guarantor requirement and without the hassle of a pile of paperwork.
You can apply to receive a business loan at any time of the day and get funded within minutes, you only have to get registered on the carbon platform which can be done in a few seconds from the Carbon’s app download on your mobile device play store.
Carbon business loans offer cashback on interest fees that are paid once a borrowed amount is prepared on time, it also has no late fees, processing fees or rollover fees, unlike other lending institutions.
SMEDAN loans for SME projects
The SMEDAN business loans for SME projects is one of the famous business loan providers in Nigeria.
SMEDAN loans are facilitated by the Small and Medium Enterprises Development Agency of Nigeria and it is in collaboration with the BOI(Bank of Industry) and BOA(Bank of Agriculture). SMEDAN offers one of the best ways to access business loans opportunities you only have to qualify.
ADVANS Nigeria
Advans Nigeria has been known to grant business loans to develop business since its establishment. Advans is a lending platform that also offers personal loans.
Through its loan categories including Advans 48, Advans future businesses can acquire business loans from 750,000 naira – 75 million naira to boost their businesses. Advans incorporates a quick processing time, ease of savings, repayments, flexible interest rates and convenient loan repayment terms features to ensure that your business can still thrive even when you are repaying your business loan.
Fairmoney Business
Fairmoney is one of the safest and most secured business loans providers in Nigeria. It is a licensed finance provider that is secured by the Nigerian Deposit and Insurance Corporation(NDIC). Fairmoney allows personal loans and also renders business loans to small and medium businesses at a lower interest rate and flexible repayment period(72hours – 12 months).
With Fairmoney business owners can borrow loans up to 5 million at any time without collateral and get paid within 24 hours.
Loanspot
Loanspot is an online money lending platform that offers varieties of loan offers from various lenders at diverse interest rates providing businesses with a myriad of business loan options to choose from. Loanspot has over 180,000 customers, it is just what you need if you are interested in going for a loan with the best interest rate.
To access a loan on loanspot, you would have to register on the loanspot website and apply for a business loan.
Lendigo
Lendigo is reputed to have disbursed over 6 billion worth of business loans to over 2000 businesses since its start of operations.
Lendigo offers credit services to different business sectors within hours of receiving a business loan request that is approved. Besides it being also fast and flexible, getting a business loan on Lendigo requires no collateral.
First bank Business loans
Established in 1894, First bank is a renowned financial institution that offers a wide range of financial services to its millions of customers.
First bank is dedicated to helping business startups attain growth and it offers a variety of SME products to meet this goal.
Irrespective of your industry, First bank will provide the largest possible loan to meet your business need as long as you have met their criteria.
Stanbic IBTC
Stanbic offers chartered financial services and also provides loans to businesses and companies.
You can apply online to access a loan with Stanbic. Stanbic loans cover all industries, it provides a flexible repayment period and funding that you will find a convenient option to achieve business growth.
Access Bank
Access bank specially designed creative sector loan is just what you need to expand your business.
Access bank first began operations in 1989 and since its establishment has recorded tremendous financial success in assets, loans, deposits and more.
Guaranty Trust Bank PLC
Popularly known as GTB, Guaranty Trust Bank has served millions of customers since its start of operations in 1991.
GTB provides personal and business loans to meet everyday business demands. You can choose any that suits your business development need from the several business options the bank provides( GTB Quickcredit, Invoice discounting, overdraft, Fashion Industry credit, Hub Advance for businesses on Markethub, and Food industry credit).
Final Thoughts on Top Business loans providers in Nigeria
As personal needs and family demands increase daily, dependence on a one-way income is proving to be a risky decision. It is necessary to expand your income stream and starting a business or growing that small business of yours is a nice idea. However, funding a business can be quite expensive and risky but still, it is not impossible. You can still start a business and attain that level of business growth you are thinking of with the help of trusted and reliable business loans.