Most loan institutions demanded collateral in order to ensure that customers who borrowed money from them paid it back.
It is crucial to have no collateral in exchange for cash for borrowers because not all people have the capacity to pledge any of their assets as security for a loan.
That makes it incredibly simple for anyone to borrow money without putting up any security.
I will tell you about some of the loans available in Nigeria for the unemployed in the following section of this post.
Top 10 Loan Apps For Nigerian Unemployed People To Borrow Money
With their rapid loans without collateral, these loan applications have emerged to help Nigerians who are unemployed or underpaid.
1. Loans for Fast Cash
One of the potential loans for jobless individuals in Nigeria is fast credit lending. They offer quick loans together with competitive interest rates. With quick finance, the repayment cycle lasts 15 months.
This platform offers three different types of loans, starting from
Rapidly approved private loans
• Loan with Fast Credit SMS
• Quick public credit loan
2. A Payday Loan
Another lending option offered by FCMB for unemployed Nigerians is the fast cash loan, which accepts no collateral in exchange for cash advances for personal needs and emergencies.
Using the FCMB loan code *329*11#, you can access a quick loan for money borrowing.
Individuals are eligible for N200k with quick disbursement through FCMB loans.
3. L Money Loan
One of the most practical loans for individuals and those who are currently employed is offered by LMoney. A speedy money disbursement and instant loan approval allow individuals and company owners to borrow up to N2 Million within 24 hours.
4.Lendigo Loan
One of the top loan providers is Lendigo, which offers loans to individuals and business owners starting at N300,000.
Customers can apply for a loan through the platform website, so it takes less time and effort.
5.Kwikpay credit
Are you alarmed about the state of the economy? Refuse to accept the economic decline. Do you know about Kwikpay Credit? Kwikpay Credit is a platform for financial aid that enables people and company owners to overcome financial concerns.
Read also about Kia Kia Loan App or Fairmoney Loan App for a fast loan today
6. Standard Chartered loan
Do you not know about this platform? One of the highest and best loans available in Nigeria allows you to borrow up to N2 million, which you may repay interest-free over 63 months.
It is advantageous because anyone can apply for the loan, whether or not they are employed.
7.Renmoney Loan
One of the top fintech firms operating under a microfinance banking license in Lagos, Nigeria is Renmoney.
Through their website Renmoney.com, which is managed by CNB and guaranteed and protected by NDIC, they make loans to their customers.
8.Jumia loan application
The Jumia Loan App is a loan program specifically designed for school-age individuals, allowing them to borrow up to N30,000 without putting up any security.
Through the Jumia pay app, applying is simple and doesn’t need any effort.
9.Loan from Quickteller
These particular platforms have been around for a while and have had a big impact on how comfortable their clients are. They help thousands of people with their financial needs, expanding their clientele throughout Nigeria and other African nations.
The platform loan is available to both employed and jobless people.
10. Loans to Baobab
As long as you require money, it doesn’t matter who you are. Nothing prevents you from submitting an application to a reputable site that can give you what you seek.
You can use Baobab to receive a loan online for as little as N20,000 and as much as N50,000 with no collateral.
The Baobab Loan is based exclusively on business loans. They provide loans for Nigerian businesses. Why not consider Baobab loans once you have decided to borrow money in this region of Nigeria, known as “Oyo, Ogun, and Lagos state”?
These are businesses or organizations that extend quick loans to their clients. These so-called platforms served just to conceal the consumers’ unstable financial situations and did not request any collateral from them.
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