Where to Get Loans for Unemployed in Nigeria

Loans for unemployed is a financial products specifically designed to provide monetary support to individuals who are currently without employment. These loans cater to the financial needs of unemployed individuals who may face unexpected expenses or require funds for various purposes. This article gives you information about different loan platforms where you can access loans for unemployed.

While traditional lenders may consider employment status as a factor for loan eligibility, certain Fintech companies in Nigeria offer quick and accessible loan options that do not necessarily require a regular source of income, provided the applicant meets other criteria such as a good credit history and alternative means of assessing repayment ability.

Can You Get a Loan with No Income?

Contrary to common belief, it is possible to secure a loan even if you are unemployed. Lenders, however, often require an excellent credit history, a good credit score, and an alternate source of income to assess your ability to meet loan repayments.

Where to Get Loans for the Unemployed in Nigeria

Quick loans, also known as short-term loans, provide a feasible solution for the unemployed. Numerous Fintech companies offer such loans, featuring flexible repayment options and swift processing times. Here are some reputable platforms to consider:

1. Aella Credit:

  • Loan Range: ₦1,500 to ₦700,000
  • Flexible repayment with an interest rate of 4%-29% monthly
  • Maximum tenor of 2 months
  • App-only platform designed for Nigerians

2. Carbon

  • Swift loan approval upon meeting requirements
  • No paperwork; only Bank Verification Code and relevant details required
  • App available for both Android and iOS users
  • Flexible repayment and interest rates ranging from 5%-10%

3. Branch

  • Loan amounts from ₦100,000 to ₦200,000 within 24 hours
  • No collateral or source of income needed
  • Interest rates varying from 15% to 34%

4. QuickCheck

  • Loan Range: ₦10,000 to ₦500,000
  • Gradual increase in loan amounts based on repayment history
  • Early repayments lead to lower interest rates
  • Focus on testing trustworthiness and repayment ability

5. FairMoney

  • Licensed to provide short-term loans ranging from ₦2,500 to ₦150,000
  • Requirements include Bank Verification Number and debit card details
  • Interest rates ranging from 5% to 28% with a flexible tenor of one month to 26 weeks


Unemployment poses challenges globally, intensifying competition in the job market. Despite this, financial organizations offer swift loan options to help individuals overcome these tough times. These loans, characterized by quick disbursement and minimal requirements, aim to provide financial support for those facing unemployment.

Remember, each loan option comes with its terms and conditions, so it’s important to carefully assess and choose the one that best aligns with your needs and financial capabilities.

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