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Loan in Nigeria; Top 20 Providers, Requirements And Conditions

In this article, I will be discussing loan in Nigeria, and my focus will be on loan providers in the country, loan requirements, as well as, conditions for giving out a loan. Nevertheless, what is a loan?

What Is Loan?

In finance, a loan is simply the act of lending money either by one person or more individuals, and organizations, and/or other agencies to a person or other individuals, and organizations among others.

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The recipient, by that I mean, the borrower at that point will incur a debt, and he or she is usually liable to make sure that he or she pay interest on that debt until the debt is repaid, the repayment of the principal amount borrowed.

Loan in Nigeria
Loan desk – Photo Source: moneycontrol.com

Having looked at what loan is, let us now look at the loan providers in the country.

Read Also: Mortgage Loans in Nigeria; Requirements and How to Get Home Finance

Popular Loan Providers in Nigeria

There are quite a number of loan providers in Nigeria, and in this article, I will itemizing quite a number of them too. Below are loan providers in Nigeria:

1. Adims Credit and Investment Limited

Located at Suite 9, Okaka Plaza, Opposite E Close, Besides Domino Pizza, 1st Avenue, Festac Town, Lagos Nigeria.

They are in business for the purpose of providing businesses with support services, and loans, and asset management, and financial advisory services, including investment opportunities.

2. ASO Savings & Loans Plc

Located at Plot 266, FMBN Building, Cadastral Zone A0, Central Business District, Abuja. They also support businesses by out loan to them among other services.

3. City-Code Mortgage Bank Ltd

Located at 21/25, Broad Street, Lagos Island, Nigeria. They specialize in offering different loans scheme and other financing options to businesses.

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See Also: How to secure an Agricultural loan through the Bank of Agriculture

4. COOP Savings & Loans Limited

Located at 11, University Crescent, Beside Access Bank, Secretariat – U.I. Road, Ibadan, Oyo, An organization that is positioned mainly for financial services to businesses.

5. CRC Credit Bureau

Located at 26 McCarthy Street (2nd Floor), Onikan, Lagos Nigeria. This is loan applications services providers, that offers credit information reports, and credit monitoring including alert systems for personal, and business and/or to financial institutions.

6. CredCentral

Located 859 Bishop Aboyade Cole Street, Victoria Island, Lagos Nigeria. This company is simply a consumer finance company that usually assist individuals and sometimes, homes with reliable loan services and also bureau de change.

7. Direct Bridge Nigeria Limited

Located at 703A1, Thomas Adeboye Drive, Off Somide Odujjunri Avenue, Omole Phase II Ojodu-Berger, Lagos. They specialize in rendering loan services to individuals in paid employment and also those, who have a business of their own to run.

8. One Credit

Located at 56 Opebi Road, Suite 304, 3rd floor Dream House, Salvation Bus Stop, Ikeja, Lagos Nigeria. This is one of the financial firms that is located in Lagos Nigeria for the purpose of providing short-term and also affordable consumer credit including loans to persons who have limited access to finance.

Read Also: How to secure an Agricultural loan through the Bank of Agriculture

9. QuestMoney

Located at 235A, Ikorodu Crescent, Dolphin Estate Ikoyi, Lagos Nigeria. The firm is one of the loan services companies, and they offer fast, and simple as well as, convenient short term loan plus repayment services, this is known as the product of FundQuest Financial Services Limited.

10. Resort Savings And Loans Plc

Located at 5th Floor St. Nicholas House 6, Catholic Mission Street, Marina, Lagos, Nigeria. This is another Nigerian loan service company, mainly for house finance services.

11. StartCredit

Located at 5 Ashimowu Street, Gbagada, Lagos Nigeria.

StartCredit actually provides investment and also personal loan services, and one of Nigeria’s best loan marketplace is StartCredit.

12. TiagoCredit

Located at Block C2053 Tejuosho Main Complex, Yaba, Lagos Nigeria. This organization also provides financial services in safe, and insecure as well as, in fast online loan situation, other than other related services.

13. Union Homes Savings and Loans Plc

Located at Royal House, 153, Ikorodu Road, Onipanu, Lagos, Nigeria. A financial service center mainly for loan scheme services.

14. Accord Savings & Loans

Located at 2 Aromire Avenue, Off Adeniyi Jones Avenue, Ikeja, Lagos, Nigeria. This is a Lagos based loans providers, they are also loans outlet mainly for house scheme services in Nigeria.

15. Cashbridge Global & Leasing Co.

Located at 48B Lasode Crescent, Off Etim Inyang Street, Victoria Island, Lagos Nigeria. This company also provides excellent services in short term loans, and also in cash advance service including property leasing.

Read Also: How to Get a Loan in Nigeria

16. Centage Savings & Loans

Located at 13C, Ligali Ayorinde Street, Victoria Island, Lagos, Nigeria. Centage Savings & Loans financial services are functioning as savings and also loans services.

17. Eurobank Savings & Loans Limited

Located at 8, Fure Avenue, Kano, Kano, Nigeria. Eurobank Savings & Loans Limited is a Nigerian financial service house and it is in Kano, Nigeria.

18. All Commercial Banks in Nigeria

19. Bank of Industry 

20. Bank of Agriculture 

What Are The Requirements For Getting a Loan in Nigeria:

  • -The business owner must have personal credit
  • -Cash flow- lenders look at a debt-to-income ratio
  • -Age of business- lenders lend to businesses with a track record
  • -The current amount of debt.
  • -Collateral. Debt backed by things of value
  • -Industry –  business risks are assessed

Having looked at the requirements necessary for loan granting, let us now briefly take a look at the conditions for giving out a loan.

What Are The Conditions For Giving Out Loan:

-You must make sure that you formally apply to a bank for the loan need

-Banks usually charged interest on the loan per annum basis and know that the amount is not fixed

-Different banks usually offer different interest rates and different terms and conditions

-You must never ignore any term and condition given

-Banks will ask you to bring collateral or any form of security

-When you default on repaying your loans when there are due never think the bank will take over your business

-Your loan can always refinance or restructured

-You can always make that you ask your bank for a moratorium

-Always know that the biggest threat to defaulting is your Debt Service Coverage Ratio (DSCR)

-Always know that Banks normally have hidden charges, outside from the interest rate they are charging you


Bank Loan usually has some advantages. When your interest rate the bank is charging on loans is low, the possibility is that it will definitely save you some money. That is all that I can actually offer in this article, you need a loan? Contract loan providers listed in this article.

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Ifiokobong Ibanga

Ifiokobong Ibanga is the founder of InfoGuideNIgeria.com. You can get in touch with him on Instagram @ifiokobong. If you need a personal assistance on this topic, kindly send a message. Much Love!

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