A loan is a financial instrument that helps both businesses and individuals to meet financial obligations. However, most lenders often require a form of collateral to serve as security before they give-out the loan to ensure its repayments.
Not every individual in Nigeria has what they can tender as collateral to access a loan. This is why loans without collateral are very important. Fortunately today, business owners and individuals can apply for quick online loans without putting up their assets as collateral.
Lack of capital is one of the major problems of doing business in Nigeria. With the new quick and easy online funding options, lenders evaluate creditworthiness and ability to pay back within a stipulated time frame and may approve an amount of loan based on that assessment.
In this post, we talked about the top 10 websites in Nigeria that offer quick loans to small businesses and individuals without collateral in Nigeria.
GroFin provides Small and Medium Enterprise (SME) finance/business loans across Africa & the Middle East. If you have investible numbers and you looking to expand your business, then GroFin is your best short.
With GroFin, businesses can access business loans between US$100,000 and US$1.5 million. If you think your business ticks the required checklist, then you can submit your online application here.
Last on the list is SMEDAN, a government-backed initiative to offers quick and easy business loans to Nigerian SME’s businesses in need of financing. The core mission of the organization is to promote entrepreneurship among Nigerians and also provide capital to start the business.
Aside funding, SMEDAN also provide business owners with hands-on training and support to help them run their business. If you would like to apply, click here to access their online application portal.
Lidya is an online platform that provides businesses access to finance. The platform offers small and medium-sized businesses with unsecured loans of between $500 and $15,000.
According to the founders, “Lidya uses technology and algorithms to assess the risk before granting the loans, it allows them to offer financial products to these customers at a low cost.”
Aella Credit is building platforms that make it easier for individuals in Africa to gain access to financing. Mainly focused on employee lending and empowerment, the company was affiliated with three main credit bureau agencies in Nigeria to provide quick and affordable loans with no paperwork to its customers.
Aella Credit uses a proprietary credit scoring algorithm to determine the creditworthiness of its users. The algorithm, which was built after the team gathered over five years of market data and analysis, processes an applicant’s eligibility for a loan by considering social and demographic factors as well as their debt to income ratio.
Zedvance is a consumer finance company committed to providing consumer credit to individuals. You can borrow up to 3 Million Naira in less than 24 hours.
The company specifically provide loans to salary earners but if you are a salary with a side business, you can pick up the deal to finance your business use.
Paylater is an easy and entirely online lending platform that provides short-term loans to individuals and small businesses in Nigeria to help cover unexpected expenses or urgent cash needs.
With Paylater, you can access up to 500,000 Naira loan with no collateral. Once your application is approved, funds are typically received within 1 – 3 business days. Making on-time repayments can grant you access to higher credit limits for your next loan.
KiaKia is a digital money lender for Nigerian businesses. KiaKia utilizes psychometry, big-data, machine learning and digital forensics for its proprietary credit scoring and credit risk assessment algorithm to provide direct and peered personal and business loans to millions of individuals and SMEs without credit information.
The name KiaKia was derived from a Nigerian language which means “Fast Fast”. According to them, the solution is very simple and fast, but highly effective and efficient.
Formerly known as One Credit, OneFi is a credit facility company that offers short-term consumer loans to credit-worthy individuals with limited access to finance.
One-Fi loan repayment cycle is typically between 3 – 6 months, with loan amounts up to N200,000 or more.
C24 Limited is a microfinance institution that was established with the sole mission to create an avenue for people to actualize opportunities around them, by helping them access cash loans when they need it.
C24 understands the need for quick cash loans and the necessity of quicker loan processing time. Their online loan process has been optimised to help applicants avoid the stress associated with other loan companies.
QuickCheck is a modern lending platform for individuals and small businesses. QuickCheck uses mobile technology to enable individuals and small businesses to gain access to financial credit.
According to the platform, users can access quick and hassle-free loans of up to 30,000 Naira without any collateral for a duration of either 15 or 30 days.
Specta is an online lending platform that gives you loans of up to 5 Million in one transaction all within 5 minutes! No collateral, no paperwork and no visit to any office. With Specta, you can take care of urgent personal and business needs anywhere, anytime.
12. FAST CREDIT
FastCredit offers business loans to micro, small and medium enterprises to support business growth. The loans are backed by guarantors and are for a maximum tenor of 6 months for business owners that meet the criteria.
Aside from business loans, they also offer simple and fast ‘all-purpose’ cash loans to employees of corporates such as the banks, TELCOs, Insurance/other financial institutions, FMCGs, Pharmaceuticals, Aviation, Oil and Gas employees etc to enable them urgently meet their consumer needs.
How to Get Unskilled Jobs in Canada for Foreigners
If you are a citizen or a permanent resident of Canada you can simply apply for a job at any company that is hiring unskilled workers. If neither a Canadian citizen nor a permanent resident, your single option is to apply to immigrate to Canada as a foreign worker. You must have to complete the Canada unskilled work visa process and the immigration process may take up to five years.
During the period you’ll have to meet all the procedures, requirements, and score enough points to be eligible. You will also have to show that you have at least the minimum level of financial status by providing the statement of bank balance. You would have a very minimal chance of getting a work permit visa in Canada for some sort of unskilled worker jobs.
In the case of a company in Canada that wants to recruit foreign workers on work permits, they have to prove that they’ve executed all available options to find a Canadian to fill the unskilled job position. They also have to prove that there is a limited supply of unskilled workers in Canada who are a qualified candidate and able to fill the position.
Moving to Canada by Applying Temporary Foreign Worker Program
For unskilled and semi-skilled workers seeking jobs in Canada, another beneficial offer available is the Temporary Foreign Worker Program.
This program allows foreign workers to work and live in Canada on a temporary basis, usually for 2 years. During the period immigrants can also apply for a new work permit or an extension on the existing work permits. However, the process depends on the employers and the job offer workers have received. In order to be eligible for this program, you must:
• Have written letter of the job offer you have received from a Canadian employer
• Have an approved Labour Market Impact Assessment (LMIA).
• Convince the immigration officer that you are staying in Canada temporarily and will leave the country as soon as the end of your employment contract period.
• Provide all necessary documents that you meet the requirements of the job. These documents may be your previous work experience, job-specific training (2 years maximum), and academic requirements (usually a high school diploma).
• You must not have criminal records
• You must be in good health.
• Make sure all documents are in English or French.
• Prove that you do not pose a threat to the security of the country.
• Provide evidence of having a sufficient amount of funds to live in Canada.
SEE AVAILABLE JOBS OPENING
– Process Control and Machine Operators
– Industrial Butchers, Meat Cutters, Poultry -Preparers
– Fish Plant Workers
– Food Testers, and Graders
– Food, Beverage and Tobacco Processing
Travel and Accommodation
– Hotel Front Desk Clerks
Tour and Recreational Guides & Casino Occupations
– Tour and Travel Guides
– Outdoor Sport and Recreational Guides
– Casino Occupations
Long-haul Truck Drivers
– Long-haul truck driver
Food and Beverage Service
– Food and Beverage Servers
– Food Counter Attendants
– Kitchen Assistants
– Light Duty Cleaners
– Specialized Cleaners
– Janitors, Caretakers, and Building Superintendents
– Dry Cleaning and Laundry
– Hotel Valet
WareHouse Workers Urgently Needed In Coquitlam, BC facility
We are currently looking to hire Warehouse Workers to work in our Coquitlam facility and join our outstanding team of support! In this role you would be supporting various departments including but not limited to the welding and service technicians team. Hands-on training will be provided along with forklift certification. You will be stocking and organizing inventory and maintaining the housekeeping of the warehouse and yard. The General Laborer position requires some heavy lifting, and some experience in a warehouse facility. This role is long-term and full-time and gives you an opportunity to work with an outstanding team, it is a fantastic opportunity! Are you looking to easily get started in your new career? Send us a resume!
Time: 8:00am-4:30pm OR 4:00pm-11:30pm
Wage: $20-$22 an hour (depending on experience)
Area: Coquitlam, BC
Looking for candidates who can start immediately
Full-Time/ Permanent position
• Can start right away*
If interested in the Warehouse Worker role in Coquitlam, BC – please send us your resume and we will take care of the rest!
– Starting wage is $20+ an Hour
– Shift is Monday to Friday (Days)
– Job Security
– Fantastic Benefits Packages
– Opportunities for growth.
– A dynamic work environment with a strong team.
– Transit accessible location
– Assembling pallets of products for inventory requests including wrapping orders and preparing them for shipping
– Ensuring items are accurately picked and identified to avoid discrepancies
– Adhering to all safety and equipment regulations, and maintaining a clean work environment
– Utilizing an electric pallet jack to maneuver through the warehouse
– Ability to take direction from a voice-automated system to pick and organize orders
– Gathering orders, packing, wrapping and strapping
– Loading and unloading trucks
– Pallet-Jack use/ Sit down counterbalance- not required but would be an asset
– Previous experience in a warehouse or working with inventory is a bonus but not required
– We prefer that you have your own steel toe boots and a safety vest.
– Must be able to lift up to 35+ lbs
– Reliable, responsible & willing to get the job done
– Good attention to detail
– Ability to provide previous references
– You are currently located in the Coquitlam, BC area!
If this sounds like the perfect job opportunity for you, look no further!
We are also accepting referrals and offer a bonus that will put extra cash into your pocket- ask us about it to learn more.
Just send your resume along to Randstad Team!
Lipika @ firstname.lastname@example.org
Nicole @ email@example.com
I Have No Income And Need Money Now: How To Get Cash Now With No Job
If you find yourself in the league of those constantly using the term “I have no income and need money now” and you keep wondering how you could scale through your expenses and pay up your bills. It may seem difficult to secure a loan with manageable interest rates and payback terms for those who need to borrow money without proving their income, but this is simply untrue!
When you are unemployed or lack access to a standard pay stub from a 9 to 5 job, you have a lot of possibilities for emergency loans.
These loans are a form of funding accessible to people without a job or a stable source of income.
Before qualifying an applicant for a loan, many traditional lenders need verification of yearly or monthly income. Some even set a minimum income requirement for applicants to be accepted and reject applications if the applicant doesn’t make the required amount.
This can make it challenging for people looking for no income loan products to find a direct lender. Thankfully, several internet lenders offers loans to individuals who keep using the term “I have no income and need money now”. These type of loans accept applications from borrowers without a job or conventional income proof. There are many other ways besides a pay stub to demonstrate your ability to repay a loan!
How Does No Income Loans Really Work?
These loans work similarly to other types of loans. However, no-income loans require that you have some alternative method of paying them back with interest. Therefore, lenders will want to see your credit history, bank accounts, and proof of any liquid assets that demonstrate your ability to repay the loan, if you pass the test, they will offer you some loans you can pick from and that will take you off the term “I have no income and need money now.”
Lenders look over your finances, assets, credit score, distributions, or payouts from any other sources to determine the level of risk you represent to their firm if they were to approve your loan. If they are confident that you can pay them back, they’re likely to approve your request.
There are many different types of liquid or cash-equivalent assets, monetary compensation, benefits, or alternative income sources you can use to show that you can make payments.
Alternatives You Can Use When You Constantly Use The Term “I Have No Income And Need Money Now”
- Side gigs or a business startup
- Self-employment income
- Unemployment benefits
- Royalty payments
- Partner income
- Child support
- Tip income
- Social Security benefits (retirement or disability)
- Dividend payments or other investment income
- A job offer with an offer and an acceptance letter
- A retirement account (including a pension)
- Veterans Administration (VA) benefits
A lender can still believe there is some danger even if they believe you can repay the loan. As a result, you can be required to make additional payments to cover the lender’s risk. No-income loans may also have a number of drawbacks.
For a lender to be confident in approving your loan when using the term “i have no income and need money now” they usually offer you loans with higher interest rate, higher fees, repayments period of months and not years for those who have income and lastly, they’ll rather offer you low loan amounts rather than the usual bulky amount they offer.
There are four types of no-income loans currently in use:
- Stated income, verified assets (SIVA)
- No income, no job, no assets (NINJA)
- No income, verified assets (NIVA)
- No income, no assets (NINA)
An applicant for a SIVA loan must have sufficient confirmed assets to serve as collateral and sufficient income, even if it is insufficient to qualify for a loan.
NINJA loans was quite popular before the 2008 financial crisis. They were essentially loans granted on the basis of the borrower’s assurance that they would be able to repay the amount. However, financing restrictions have made it much more difficult to get them.
Of the four loan types, clients without conventional or alternative incomes can typically apply for an NIVA loan. Before a loan is accepted, assets must first be valued and then put up as collateral.
NINA loans are often only given to landlords who are real estate investors. For the loan to be approved, these investors must prove they have the funds necessary to make re payments.
There are alternative options if you are unable to get a no-income loan approved and you keep using the term “i have no income and need money now” there are other possibilities and It’s a good idea to consider your options before choosing one of these loans:
1. Ask Family Members Or Friends You Feel Can Help You Out
Check a loved one to see if they can assist you rather than going to the bank. Better terms will be offered. Just be sure to pay back the debt on time to avoid losing a crucial relationship.
2. Community Assistance
Look around your neighborhood to see if any resources are accessible. For instance, you might be able to get short-term financial assistance from religious groups, indigent utility programs, or food pantries without getting a loan. A community resource that could assist you in raising money for a mortgage is crowdsourcing.
3. Get Creative In Other To Make A Few Bucks
Think about taking a ride-sharing job. Every day, you have the option to pay out, giving you the chance to make some quick cash. To make extra money quickly, you may also provide child care, pet sitting, or handyman services. You can also make some extra money by renting out a room in your house or by selling things you don’t need.
Frequently Asked Questions (FAQs) About ‘I Have No Income And Need Money Now: How To Get Cash Now With No Job
Can I Get A Loan If I Have No Income?
Can you get a loan if you have no income? You can get a loan even if you have no income. Most no-income loans carry higher interest rates, but with Instacash cash advances, you’ll have access to up to $250 without having to pay any interest for an entire month.
What Loans Do Not Require Proof Of Income?
A no-doc mortgage loan, also known as a no-income verification home loan, does not require you to provide income proof to the mortgage lender. And you can as well check our listings above to find the one that suits you.
What Apps Pay You Instantly?
- Cashyy (Android Only)
- Mistplay (Android Only)
- Rewarded Play (Android Only)
What Is Begging Money?
Begging (also panhandling) is the practice of imploring others to grant a favor, often a gift of money, with little or no expectation of reciprocation. A person doing such is called a beggar or panhandler. Beggars may operate in public places such as transport routes, urban parks, and markets.
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