Compare Business Loans in Nigeria

Compare loans and find the perfect fit for your business goals.

Please wait while we set things up for you

businessman-background-img
Avatar

Ask Maxella AI

From inventory to expansion, Maxella matches you with smart funding.

Best loan to grow my small business? I need funding but want flexible repayment. Where can I get fast approval? I need a loan quickly to restock or expand.

Business Loan Resources

Article

Top Business Ideas You Can Get Funding ...

Starting a business is one thing. Getting the money to run it is another ...

Article

What Is LPO Financing? A Complete Guide ...

You have a confirmed purchase order worth ₦3 million, a willing buyer, and a ...

Article

The Easiest Ways to Finance Your ...

Finding money to start, sustain, or grow a business in Nigeria has always ...

Article

Best Loan Options for Nigerian Women in ...

Nigerian women run an estimated 41% of micro, small, and medium enterprises ...

Business Loans Calculator

What are your Loan expectations?

Want to find Loan products tailored to your needs?

Click Here

Choose the best Business loan for you

Asset Financing

Acquire essential machinery, equipment, or vehicles without tying up your working capital. Spread the cost over time with flexible repayment terms tailored to your cash flow.

Compare
×

Asset Financing

Eligibility Criteria

  • Registered in Nigeria as a Ltd, LLP, or PLC (Business Names included depending on lender).
  • Incorporated and active for a minimum of 1–2 years.
  • Minimum monthly turnover of ₦500,000.
  • Proforma invoice for equipment, machinery, or vehicles valued at ₦1,000,000 or above.

Application Requirements

  • Valid email address, phone number, and corporate bank details.
  • Bank Verification Number (BVN) and Tax Identification Number (TIN).
  • Valid ID (NIN, Driver's License, International Passport, or Voter's Card).
  • 6 to 12 months corporate bank statements.
  • Proforma invoice or vendor quote for the asset being purchased.
  • Completed loan application form.
Working Capital Financing

Bridge short-term cash flow gaps and keep daily operations running smoothly. Access quick funding to manage inventory, operational costs, or unexpected business expenses.

Compare
×

Working Capital Financing

Eligibility Criteria

  • Registered business entity in Nigeria (Ltd or Business Name).
  • Minimum of 6–12 months of active business operations.
  • Consistent monthly revenue with a minimum monthly turnover of ₦500,000.

Application Requirements

  • Valid email address, official phone number, and business address proof.
  • BVN and Tax Identification Number (TIN).
  • Valid Means of Identification (NIN, Driver’s License, Passport, or Voter’s Card).
  • 6 to 12 months corporate bank statements showing steady operational inflow.
  • Completed application form.
Payroll Financing

Ensure your workforce is always paid on time, even during tight financial cycles. Secure fast cash injections to cover employee salaries and avoid operational delays.

Compare
×

Payroll Financing

Eligibility Criteria

  • Registered corporate entity in Nigeria with active salaried employees.
  • Minimum of 1 year of consistent payroll processing history.
  • Minimum monthly revenue equivalent to at least 2–3x total payroll obligation.

Application Requirements

  • Valid email address and phone number for authorized company representatives.
  • BVN and TIN of company directors or business owners.
  • 6 to 12 months corporate bank statements showing regular salary payouts.
  • Verified payroll schedule or employee list with corresponding bank details.
  • Completed application form.
Invoice Discounting

Uncover the value tied up in your unpaid invoices instantly. Get immediate cash advances on outstanding client bills so you don't have to wait 30, 60, or 90 days for payment.

Compare
×

Invoice Discounting

Eligibility Criteria

  • Registered business operating in Nigeria (Ltd or PLC preferred).
  • Minimum of 1 year in business.
  • Issued valid, verifiable invoices to creditworthy corporate clients or government bodies.

Application Requirements

  • Valid email address, phone number, and director BVN/TIN.
  • Valid ID for directors/business owners. Copy of unpaid invoice(s) alongside purchase orders or contract agreements.
  • Delivery note, acceptance certificate, or proof of service delivery signed by the client.
  • 6 to 12 months corporate bank statements.
  • Completed application form.
LPO Financing

Fulfill large Local Purchase Orders (LPOs) without straining your working capital. Access the upfront funding needed to procure materials and deliver on valuable contracts.

Compare
×

LPO Financing

Eligibility Criteria

  • Registered business entity in Nigeria.
  • Valid, verifiable Local Purchase Order (LPO) or contract from an approved corporate client or government agency.
  • Proven track record of executing similar jobs or supply contracts.

Application Requirements

  • Official corporate email address, contact details, BVN, and TIN.
  • Valid government-issued ID of key directors.
  • Certified copy of the LPO/Contract agreement and client verification details.
  • Supplier proforma invoice for raw materials or stock required to fulfill the order.
  • 6 to 12 months corporate bank statements.
  • Completed application form.
Women in Business

Tailored financial solutions designed to empower female entrepreneurs. Enjoy competitive interest rates, flexible terms, and dedicated support to grow your business.

Compare
×

Women in Business

Eligibility Criteria

  • Registered business in Nigeria with at least 50% female ownership or female-led executive management.
  • Minimum of 6–12 months in operation.
  • Minimum monthly turnover of ₦300,000 to ₦500,000 (depending on lender tiers).

Application Requirements

  • Valid email address, phone number, and contact details.
  • Director's BVN, TIN, and valid government-issued ID.
  • Proof of ownership structure or CAC registration documents showing female leadership/ownership.
  • 6 to 12 months corporate or operational bank statements.
  • Completed application form.
Unlock Your Free Credit Score in Minutes – No Hidden Charges

Get instant access to your credit score and boost your chances of getting approved for loans faster. Understanding your credit history is the first step to better financial decisions.

Check My Score Now
Credit_score phone banner (1)
Bill-1
Lock-2

Business Loans in Nigeria

Fuel Your Business Growth with the Right Loan!

Whether you’re a small business owner or a sole trader, accessing the right funding is key to expanding your operations. At nairaCompare, we simplify the process of comparing business loan options so you can find the best solution for your business needs.

Compare Business Loan Interest Rates

  • Quickly view and compare business loan interest rates from multiple lenders to find the most affordable financing options for your business.

Understand Business Loan Terms

  • We provide clear and transparent information on repayment periods, fees, and loan conditions to help you choose wisely.

Online Business Loan Application

  • Apply for business loans easily through our platform, saving you time and effort in securing the funds you need.

Access to Top Business Loan Lenders

  • We partner with reputable financial institutions that offer reliable business loans tailored to small businesses and sole traders.
FAQs - Business Loans

We answered some questions, so you don't have to ask them

What is a business loan and how does it work?

A business loan is a financial product designed to provide funding for business-related expenses, such as expansion, working capital, equipment purchase, or inventory. It involves borrowing a fixed amount of money from a lender, which is then repaid over a specified period with interest. 
How do lenders determine my eligibility for a business loan?

Lenders assess factors such as your business's creditworthiness, revenue, time in business, industry, and the purpose of the loan. A strong credit history, consistent cash flow, and a well-defined business plan can improve your eligibility. 
What's the typical loan repayment period and interest rate for a business loan?

Loan repayment periods can vary widely, ranging from a few months to several years, depending on the loan type and amount. Interest rates are influenced by factors like your creditworthiness, the type of loan, market conditions, and the lender's policies.
What documents are typically required to apply for a business loan?

Commonly requested documents include financial statements (profit and loss, balance sheet), business tax returns, personal tax returns, bank statements, business licenses, and a duly filled application form. 
How long does it take to get approved and receive funds for a business loan?

The time frame for approval and funding can vary. Some online lenders offer quicker approvals and disburse funds within a few business days, while traditional banks might have a longer application and approval process that takes several weeks. Providing complete and accurate documentation can expedite the process.

What our users say about us

See all reviews
Promise-Ndah

Promise Ndah

No stress at all, thank you very much, really appreciate.

October, 2022

Star 5 Star 5 Star 5 Star 5 Star 1
Okebukunola-Wuraola-300x300

Okebukunola Wuraola

Makes the loan process very easy. You can compare loans in one place and make decisions.

August, 2021

Star 5 Star 5 Star 5 Star 5 Star 1
Isreal-Okorocha-300x300

Isreal Okorocha

I love the fact that nairaCompare has different products to choose from.

March, 2024

Star 5 Star 5 Star 5 Star 5 Star 1
Taibat-300x300

Taibat Orogho

Just the service I needed. Helps users compare loans and other financial products, and make informed decisions. It is also very simple and easy to navigate!

November, 2022

Star 5 Star 5 Star 5 Star 5 Star 1

Subscribe For Financial Tips and Offers!

Sign up for our newsletter to get the best offers, expert advice, and more!

By continuing, you agree to our Terms & Conditions and Privacy Policy.
Hi! I'm Maxella.
How can I assist you with your financial needs today?
Zendesk Support
Go to Top