I need a Loan of 50000 naira – Here is How To get it

Many businesses today fail because of capital. Capital is essential for a business. When talking about capital most businesses bomb the internet space with questions like ‘ I need a loan of 50000 naira, how do I get it? Today, there are many vital information on that topic on the internet. But have you considered the many Fintech organization that are readily available to offer you that kind of loan? Yes! With over 100 Fintech organizations, only a few can give that sort of loan without hiccups. On our list below, we would be considering the few organization that can offer businessmen up to 50000 naira loans in Nigeria.

Loan Apps and Companies that offer a Loan of 50000 naira

Penny Lender

One of the best ways of receiving a 50000 naira loan in Nigeria is through Penny Lending. Penny Lender is an internet money giver that agrees to give out single payment loans, installment loans, and payroll loans. However, you would link your account with their platform, and then the amount you obtained from them is then removed gradually.

Credit facilities from PennyLender may seem to be short and short-term in nature. For example, according to their terms and services, the minimum amount to borrow is 10000 naira and the maximum is 500,000 naira. This platform is best for anyone who needs a loan of 50,000 nairas in Nigeria. Also, it is advisable to be used for unsecured loans, student loans, and so on.


Migo is a very technological firm. It specializes in offering services to customers and clients across the 36 States of the country. Migo extends loans to people who require loans of up to 50000 naira. They are embedded lending platforms that extend credit facilities to customers and businesses all over the country with their apps. When it comes to the minimum and maximum amount one can borrow, a person can borrow a minimum of 500 naira and a maximum of 500,000 naira. They also enable customers to pay back with a friendly interest rate.

Migo as an organization also provides extension by enabling credit facilities to a layman. Yes, even if the normal bureaucratic organization frustrates you with its terms and conditions – Migo is still here for you. It provides a life-changing experience to sole proprietors and low and medium-earners. The good thing is that Migo has a customer care representative here in Nigeria.

ALSO READ: Loans For Unemployed People In Nigeria


The statement ‘I need a loan of 50000 naira’ can be extended if it would not enough to meet your specifications. For example, if you’re a business owner trying to catch up with the latest technological update in your business, 50000 naira would not be enough for you. How about obtaining a loan of up to 1,000,000? With Carbon, your dream can become a reality! What do I mean?

Carbon believes access to credit facilities as a business owner is your fundamental human right. According to Carbon, their objective is to empower everybody with the financial aid they need to pursue a life of dignity. By installing their app, you are just one step away from accessing credit, investment solutions, and so on. Let Carbon be your financial assistant whenever you need funds!

One Finance

Have you ever imagined paying back a loan that accumulates with 1%? That would be good to be true you’ll agree. With OneFi, you are sure of accessing loan opportunities to finance the latest project you have in store. The general belief of borrowing more than what you can pay is nullified by this Fintech organization.

With the kind of data and technology OneFi have, they make it easy for you to receive your money as fast as one minute. They provide credit opportunities to people who are not able to go to the bank to ask for a loan. OneFi set you in a position to borrow more than 50000 naira in your first trial. The maximum amount to borrow from One Finance is 1000000 naira.


PettyCash is a Fintech platform that enables users to provide single loans to borrowers. ‘I need a loan of 50000 naira’ would be a thing of the past when banking with PettyCash. This amount is then deducted from your bank account. The minimum loan amount is 10,000 naira and the max amount of 100,000 naira. Interest rates are determined by a coalition of factors.

These loans are meant for students and individuals who cannot access long-term loans and services.

Aella Credit

Aella is a Fintech platform developed to perform simple credit transactions for developing markets. Aella has constructed products that build financial independence for clients such as loans, investments, and cash transfers. All of this can be done easily with a twinkle of an eye.

With no paper documentation, you can develop your financial assessment and increase your credit limit with brief reimbursements. A smartphone, your personal information, and your BVN are all you need before you can access the 50000 naira loan app.


Specta is an app meant for loans of 50000 naira. Specta is a solution for online retail lending that aims to offer loans of up to N5 million in just five minutes. After being prequalified, the platform makes use of a robust credit algorithm to provide customers with access to loans without the need for a lot of paperwork or collateral.


Can I borrow from Palmpay?

The Palmpay platform helps people in need. You can ask for as much as you want and you’ll get your response in 5 minutes. Also, you don’t need any signing before your approval can be granted.

How can I borrow money with my BVN number?

A bank verification number can never be used to collect money from any bank account. It can just be used to access information regarding a bank account.

Can I borrow 100k from Fairmoney Ltd?

Yes. Fair Money offers loan opportunities of up to 3,000,000 naira on their platform. However, you would have a period of 2 years to pay back that loan. The better your historical record, the higher your chances of getting a loan from them

Can I borrow 100k from Opay?

With the Opay platform, it is almost seamless to borrow money from them. You had the opportunity to borrow a minimum of 3,000 naira and a maximum amount of 50,000 naira.

How much can one borrow from MIGO?

Migo is a Fintech platform that offers loans of about 500nairasa minimum amount of 500,000 naira. Most times, this platform starts with a minor loan and it grows the more you build your portfolio.


When giving out loans, many Fintech organizations do not care about the amount sometimes. Most of them want to fulfill their objective of satisfying human wants. Although, that is why the statement ‘I need a loan of 50000 naira’ may seem as though one is underutilizing the opportunity to borrow as much as one wants. If you require any amount a Fintech organization is willing to help you.

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