Loans For Unemployed People In Nigeria

To be frank, being unemployed in Nigeria can be very frustrating. That can be even worse if you are unemployed because of the inability of capital to start the business of your dreams. If you’re in these shoes, then you’re not the only one. However, there’s a way out. One way you can help yourself is by taking a loan. You might wonder; As an unemployed person, can I be eligible for any loan? The answer is Yes. There are many software out there that you may not know that offers loans to unemployed people. Well, not to bother. You are at the right place! In this article that you have just started reading, you would be reading about loans for unemployed people in Nigeria. That’s not all, you would also see information about how to go about it. This article promises to be very informative! Let us not waste any time further, let’s get started.

Branch Loan

The Branch App is one of the most common apps that give out loans to unemployed people. The branch app is a fintech app that has the capability of performing other transactions such as transferring and sending funds, buying and selling airtime, and much more. Once you download the app from your play store, you would just need to carry out some simple operations for you to get access to loans.

When you download the app, then proceed to sign up. When signing up, be sure to input your correct details such as your name, phone number, etc. After doing that, you can apply for a loan. Approval for loan requests may take up to an hour or more. Once you’re approved, the loan would be credited to your account. It’s easy and stress-free.

Palm Credit Loan

With Palm Credit, you could get loans for your business, or other projects. Palm Credit do not care if you own a job or not, they are ready to give out loans to you regardless of that. They are also known for carrying out other transactions such as transfer of funds, deposit of funds, and many other functions.

All that is needed on your part is stable internet. Once you have stable internet, you can download Palm Credit. After downloading Palm Credit, follow the steps that would be displayed to you. Then, apply for a loan. Wait for approval which could take minutes. In minutes, your account would be credited.

Carbon Loan

The Carbon Loan App is known to offer loans to people regardless of their occupation or whether they are employed or not. Aside from offering loans to their users, they also offer other services such as sales of airtime, transfer of funds, and the like.

Unlike other apps, the Carbon Loan App makes it easy for users to get cash through loans. You can even get loans without having a BVN on it too. So, all that is required of your part is to download the Carbon Loan App from your app store and then, submit your information in the required section. After that, you can request a loan. Once approved, the loan would be sent to your account straight.

ALSO READ: List of Fake Loan Apps in Nigeria You Should Avoid

FairMoney Loan

The FairMoney Loan App is another app that helps users whether employed in a business or not, to enjoy loans as low as 1000 naira. It is one of the most common applications used to get loans because it is fast and easy. Regardless of the purpose of the loan, you would be granted the loan.

To be qualified, you need to install the FairMoney Loan App on the play store. After that, you would be required to fill in some details about you. When that is over, you can request a loan. One sweet fact about loans on the FairMoney app is that you get to access loans without having a BVN. Aren’t you impressed?

Baobab Loan

The Baobab app is an app that can offer you the best loan at a juicy interest rate. Aside from that fact, the Baobab app gives you a very good repayment plan that can reach up to 2 years! Yes, you read right! That’s enough time to make up fur your debt.

Just download the Baobab app, sign up, and request a loan. That’s all. After you’ve been approved, your loan would be transferred to your account within three days. You can borrow loans ranging from 20,000 naira to 50 million naira.

Quick Check Loan

As the name implies, the quick check Loan gives you the loan at a fast rate and easily. Regardless of whether you have a job or not, it doesn’t matter. It is a loan app commonly used by students because of the ease and speed it operates.

You can get funds from 1,500 naira to 100,000 on your first request. All you need to do is to look up the app on the play store, download and install it. After doing so, sign up and apply for a loan. Once your request has been approved, you’ll get an alert of your loan in your bank.

FAQs

Can an unemployed person get a loan in Nigeria?

An unemployed person can get a loan in Nigeria. There are loan apps in Nigeria that do not care about your employment status before getting a loan in Nigeria.

Where can I borrow money easily in Nigeria?

You can borrow money easily using loan apps. They are fast and easy to use. You can get the loan credited to your account within minutes after the request.

Can I get a loan without my BVN number?

Yes. It is possible to get a loan without a BVN number. Many apps offer this feature.

Is CBN giving any loans?

As of the period of filing this article, there is no news of a CBN loan.

When will I pay the loan back?

Depending on the type of loan you go for, you would be given a period to pay back. This is dependent on the kind of loan you go for and the app you use.

Conclusion

Being unemployed without any money can be one of the most depressing things that can happen to anybody. The truth is that without a job it is difficult to earn a living these days. However, one may be jobless because he has no money to start his dream business. That is where the loans for unemployed people come in. With these loans, you can get the required funding you need to start up your own business. These loans can serve as capital for your business which may, in turn, lift you from unemployment.