How to get a 24hrs Loan in Nigeria for your Business

0
424

How to get a 24hrs Loan in Nigeria for your Business

To get a quick 24hrs loan in Nigeria just got easier. If you have ever tried getting a loan from a bank or other lending organization, you know how time-consuming and challenging it can be.

Microfinance Bank have made it possible to cut out the time you would have spend in gathering stacks of financial documents to filling out multiple pages of loan applications forms and waiting weeks for approval.

You can now access instant online loans that are collateral-free within 24hrs or just a few minutes. If you are an engaged salaried worker, this just got even better.

Let’s dive right in:

First, are you credit worthy ?

To be awarded any loan, your bank or lending company will have to evaluate you and determine if you will be able to repay your loan.

Your creditworthiness is determined by several factors including:

  • your repayment history for any previous loan
  • If you have another existing loan with another bank or lending company
  • your income compared to the loan amount and repayment duration
  • your guarantors capability of taking responsibility of your loan

Your creditworthiness is important because it will determine whether you get the loan you applied for.

https://microfinance.gti.com.ng/loan-application/But that’s not all.

The more creditworthy you are, the better it is for you because your loan application is approved faster compared to a poor creditworthy person.

Many Microfinance bank, offers salary earners to access loans up to 3 times their monthly take home salary with repayments spread over 3 – 8 months.

This loan offer is available to both the federal government, state government and private sector workers

General Requirements for 24 hours Online loans

The requirements for obtaining a loan in 24 hours in nigeria differ based on whether it is meant for an individual or for corporate bodies/ business. The requirements include:

For individuals:

  • Bank Verification Number (BVN)
  • Passport photograph
  • Address
  • Salary account, pension account or tax ID
  • Employment letter

For SMEs /Businesses:

  • A copy of passport photograph
  • A means of identification (this could be drier’s license, international passport, national passport)
  • Last six-month bank statement of account
  • Certificate of incorporation
  • Memorandum of association
  • Post-dated NUBAN cheques from the client
  • A suitable guarantor who would provide the following:
  • Letter of confirmation/employment
  • One undated NUBAN cheque
  • A copy of staff Identity Card
  • A filled guarantor form

Loan Apps in Nigeria to Get a loan in 24hrs

The following are apps/platforms where you can get instant access to loans. you can click on anyone to jump to the section.

    • Renmoneyhttps://microfinance.gti.com.ng/loan-application/
    • Carbon
    • Branch
    • Aella Credit
    • Fairmoney
    • Migo
    • Lidya
    • Kiakia
    • Social Lender
    • QuickCheck
    • C24 Loan
    • Fint Loan
    • Specta Loan
    • Jumia Loan
    • Opay Loan

24hrs Loan in Nigeria for Federal Government Workers

Federal government workers in Nigeria have one of the most secured job in the country which makes it easy for them to qualify for a loan in any financial institution.

The federal government of Nigeria have an IPPIS System of paying salary which makes it further more easier to apply for a loan without collateral.

As of October 2019, the FG announced it will begin the full implementation of the Integrated Personnel and Payroll Information System (IPPIS).

As a lender and to ensure security and creditworthiness, we have partnered with the Federal government of Nigeria to disburse loans to everyone who has an IPPIS number.

How to get a Loan with IPPIS Number

If you have a verified IPPIS number and have begun to collect your salary through IPPIS, then you can proceed to apply for any loan

You will need the following to begin your loan application:

  1. IPPIS Number
  2. 6 Months Pay Slip
  3. 6 Months Bank Statement of Salary Account
  4. Employment / Confirmation / Deployment Letter
  5. Bank Verification Number
  6. Valid National ID card
  7. Work ID card

If all your documents and credentials are legitimate and correct, then there is no need to panic, you will get your loan approved within 24 hours.

24hrs Loan in Nigeria for Lagos State Civil Servants

The Lagos state government also have a  payment system like the IPPIS system for their workers called ORACLE.

With the Oracle number you can apply for a loan without collateral and get approved quickly.

How to get a Loan with ORACLE Number

If you work in the ministry where the Oracle number is verified and have begun to collect your salary through Oracle, then you can proceed to apply for any loan

You will need the following to begin your loan application:

  1. Oracle Number
  2. 6 Months Pay Slip
  3. 6 Months Bank Statement of Salary Account
  4. Employment / Confirmation / Deployment Letter
  5. Bank Verification Number
  6. Valid National ID card
  7. Work ID card

If all your documents and credentials are legitimate and correct, then there is no need to panic, you will get your loan approved within 24 hours.

24hrs Loan in Nigeria for Private Sector Workers

Getting approved for a loan as a Private sector worker needs some extra layer of security.

Unlike the government jobs, private jobs are not as secure.

Things can be quite different if you have been in the company for a long time and you hold a big role.

How to get a Loan for salary earners in the Private Sector

Working in the private sector needs extra security for your loan.

You may be required to provide 1 or 2 guarantor based on the amount of loan, you are applying for.

In some cases, there may be a need to interact with liase with your employer to discuss the repayment of your loan, before you loan can be approved,

To apply for any loan, you will need the following:

  1. 6 Months Bank Statement of Salary Account
  2. Employment Letter
  3. Bank Verification Number
  4. Valid National ID card
  5. Work ID card
  6. Guarantor

If all your documents and credentials are legitimate and correct, then there is no need to panic, you will get your loan approved within 24 hours.

LEAVE A REPLY

Please enter your comment!
Please enter your name here