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Thursday, 8 October 2015

How To Get A Loan In Nigeria Without Collateral Or Guarantor

This is one topic many Nigerian have always wanted to read about including yourself, thou I might be wrong but as far as I am concerned I have gotten more queries about this topic than any other topic aside mini importation business and online business in general, maybe because of the high rate of unemployment in the country or for some other reasons. I myself do collect loans from these guys am going to be reviling very soon. Lets go straight to the point, this loan I will be talking about are those issued by some financial institutions in the country and not those money lender you see on the street except for one i have confirmed myself ..

Before i proceed with the other financial institution i know, let me first talk on the micro finance bank i said i have used earlier... The name of the micro finance bank is Hududullah micro finance ... Here is their website, Hududullah ..   Their focus is to help client who are mostly poor members of the community and the good thing about them is that they do not collect interest on the loan they
give.. Getting loan from them is very easy, when you apply for a loan, it takes just maximum of 1 week to approve and give out the loan. And you need no Guarantor or collateral, all is need for them to give you loan is a shop. You need to have a existing shop where you sell things.

OFFICE: The company has its Head office at Yola, Adamawa State, and a Central Office at Kaduna. The company has two Divisions namely Services Division and Operations Division each headed by an Executive Director.. The thing about them is that, they are not everywhere, they are only in few states.. ( Ilorin, Oyo, Kogi, Lokoja, Minna, Adamawa, Yola and other few state am not sure of... To get in contact with them, you can call this phone no  07068502819 OR 09029878821.

Now let us proceed on other financial institution that give out loan?  These financial institution I am talking about are called mortgage banks! and they are the major giver of Loan without Collateral in Nigeria.

A mortgage bank is a bank that specializes in originating and/or servicing mortgage loans or let me say it is a federal government licensed banking entity that makes mortgage loans directly to consumers. So now that you know where to get loan without collateral do you really know of any mortgage bank in Nigeria. For those who don’t, I will be listing some mortgage banks and their respective branches in Nigeria as well as their contacts below;

1. Resort Savings And Loans Plc : This bank is duly licensed to carry on mortgage banking business and has operated for over a decade, having commenced business on November 29, 1993, and grown steadily in achievements, acceptability and reputation.they also give out Loan without Collateral in Nigeria.

CORPORATE HEAD OFFICE: 5th Floor, St Nicholas House 6, Catholic Mission Street, Lagos. Tel: 01-462-2081, 01-462-2082 email:

Adamawa Office: 10,Galadima Aminu Way,(Bank Street), Jimeta, Yola, Adamawa. Tel:234(09)872 3706, 0709 821 2562
Ekiti :72, Secretariat Road, Ado-Ekiti, Ekiti State Tel:234 808 639 1485
F.C.T: Abuja Garki Branch Block B, Murg Shopping Mall, Opposite UTC Market; 1, Awka street, Area 10, Garki, Abuja. Tel:234(09)872 3706, 0709 821 2562
Jabi Branch: CITEC International Estate, Mount Pleasant, Mbora district, Jabi / Airport By-Pass, Jabi, Abuja. Tel:234(09)290 3124
Lagos : Boyle Street RESORT House: 12, Boyle Street,Onikan, Lagos. Tel:234(01)774 7937
Oke-Arin Branch : Oke-Arin Oke-Arin Shopping Complex, Eyin Eyo,Idumota,Lagos. Tel: +234807-430-4145
Dopemu Branch: 1 & 2, Ojuodo Lane,Ifelodun, Aluminium Village,Lagos. Tel:234(01)462 2081
Ikeja Branch: 25, Olowu Street, Ikeja, Lagos. Tel:234(01)736 9694
Lekki Branch: Bakky Plaza Along Epe-Lekki Expressway, By Osapa London BusStop,Agungi, Lagos. Tel:234(01)793 7212
Abeokuta: Cultural Village Obasanjo Library Complex,behind NNPC mega station . Tel: (234)80 3454 1536
Rivers: VICON House; 80,Stadium Road, Opposite Mr Biggs, Port Harcourt. Tel:234(08)480 3199
Taraba: Priscilla Nyame Estate, Garden City; Mile 6, Jalingo, Taraba State. Tel:234 703 504 5390

2. Alliance Group: Mutual Alliance Group comprises of five (5) distinct companies involved in different aspects of business. The group has a combined capitalization of N500 million with annual profit of N100 million as at December 31, 2005. They are Mutual Alliance Savings & Loans Ltd, Mutual Alliance Property Development Ltd, Mutual Alliance Asset Management Ltd, Mutual Alliance Trading co. Ltd, Mutual Telecommunications Ltd. So since the context of this post is about loan so we will deal with mutual alliance saving & loan Ltd. So see their contacts below;

Abuja Office:  Plot 599, Cadestral B, Wuye, Abuja Nigeria. +234-7025840410

3. Platinium Savings And Loans Limited : Platinum Mortgage Bank Ltd is one of Nigeria’s leading primary Mortgage Institutions. It was incorporated in 1992 with the Corporate Affairs Commission to provide savings, loans and homes ownership services, and licensed by the Central Bank of Nigeria and the Federal Mortgage Bank of Nigeria under the CBN Decree 24 of 1991 and FMBN Decree No. 53 of 1989 respectively to provide Mortgage Banking Services in Nigeria.

Head Quarters: 61, Yakubu Gowon Crescent, Asokoro Abuja. Tel: +234 (0)9-7807206, Email:
Regional Office: Abuja Plot 118, Aminu Kano Cresecent, Wuse 2, Abuja
Regional Office: Lagos 27/29 Odunlami Street Marina , Lagos
Central Business District Branch: Abuja FMBN Building, Central Business District, Abuja
Garki District Branch: Abuja Plot 1500, Ladoke Akintola Boulevard, Garki II, Abuja
Utako District Branch: Abuja Opposite Zenith, Near Utako International Market Utako, Abuja Gwarimpa Branch: Abuja Plot 138, 4th Avenue, Gwarimpa Estate, Abuja
Odunlami Branch: Lagos 27/29 Odunlami Street Marina , Lagos
Badagri Branch:Lagos Joseph Dosu Way, Badagri Lagos
Makurdi Branch: Benue State Iyochii Ayo street, Makurdi, Benue State.

4. Haggai Mortgage Bank: Haggai Mortgage Bank Limited whose registered office is at 119, Bode Thomas Street, Surulere, Lagos, Nigeria was established upon the vision received by the General Overseer of the Redeemed Christian Church of God, Pastor E.A Adeboye.

Head Office: Haggai Mortgage Bank Limited 119, Bode Thomas Street Surulere, Lagos Nigeria 07045994840-4, 07046086758
Branch Office: Haggai Mortgage Bank Limited Km 46, Lagos Ibadan Express Way Ogun State 01-2957794-5, 01-2957801 08033225376, 07045994846 07045994849 E-mail:

5. Safetrust Savings And Loans Limited : The company’s lasting performance over two decades has been its commitment to its mission statement: to be an innovative and efficient Primary Mortgage Bank providing quality mortgage banking services to discerning clientele with a view to satisfying its housing needs and enhancing stakeholders values.

Head Office :18, Keffi Street, Off Awolowo Road, Lagos PHONE: 012704863, FAX: 2704866
Ikeja Office: 116, Awolowo Way, Ikeja, Lagos. PHONE:07045983248, 07045983250
Agent Banking Office :4th Floor, ITF HOUSE, Adetokunbo Ademola Crescent, Wuse 2 Federal Capital Territory, Abuja.

6. Federal Mortgage Bank Of Nigeria Abuja: The Federal Mortgage Bank of Nigeria (FMBN) was established in 1956, known then as the Nigerian Building Society (NBS), a joint venture of the Commonwealth Development Corporation and the Federal and Eastern Governments of Nigeria. And you can get their contacts by visiting this link and others are

7. Dala Building Society Limited – Kano Ministry of Works,Housing & Transport, Dan Hausa Rd, Nassarawa, Kano Kano Tel:08023105111.

                                                   Procedure To Access Loan

To access loan from any of this mortgage bank in Nigeria, simply walk into the nearest branch to you and as to open an account with them, by so doing you will be asked to provide the following;

1. 2 passport photograph 
2. An opening balance of not less than N1,000 
3. A utility bill (nepa, or water bill) Mode of Identification (preferable government issued identity card)

Once you have provided the following, the bank will process your request and your account will be available within 24 hours but you cannot get the loan immediately because they will require that you run the account for a period of 60 days and in this course you must save up to 20% of the amount of loan you wish to request for, let’s say for example you wanted a loan of 200,000 naira, then you will have to save up to 40,000 naira or more within the 60 days period to qualify for the loan. That is why if you require to collect a loan from this bank always make sure you have up to 20% of the total loan you are looking to collect long before the actual day you wish to collect the loan. And again you will be required to pay back the loan within a period of 90 days which is why you should only request for loan that you want to use to run a business and you know can give such return in the stipulated period of 90 days. And also always make sure you have a solid business plan in place to back up your business. And the maximum amount you can request for with this method is 300,000 naira, but if you wish to go for more than this then you will still have to follow same process and also you must have a guarantor who must be able to stand for you with a check of the said amount, this check will be returned once you payback your money if not it will be withdrawn. An interest rate of 5% without collateral also apply to the loan you collect using this method.  

That is it, so go and start processing your own loan today and please do not forget to drop your comment if you find this post helpful or to ask questions, i will be very glad to answer all your questions.   Credits:,,,,
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  1. Good afternoon, Am Newton Ameh Emmanuel, am from Benue. Where and how do I get your loan? Am very much interested, is fantastic, I like it. Thank you.

    1. Hello Mr Ejekwote,
      Thank you for your comment, to access any of the loan, i will suggest you contact them directly... They still give out loans, all you need to do is to call them directly to get the necessary information..

      Thank You


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