Get Lendigo Loan in 48hrs

Access up to ₦20m for your business without collateral with a flexible repayment model for a 6 – 12 months tenor.

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48hrs

Approval

₦300k – ₦20m

Amount

2.75% – 5%

Interest

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About Lendigo Loan

Lendigo provides business only-focused credit facilities to help you expand your operations.
Here are the general terms covering your access to the facility.

Amount

Credit facility starting from ₦300, 000 to a maximum of ₦20, 000, 000 accessible.

Interest Rate

You will pay a monthly interest rate between 2% to 5% depending on the length of repayment. (There is a processing fee starting from 0.5%)

Tenor

Lendigo offers short term loans for a period of six months, this can be extended to 12 months based on criteria determined by the company.

Lendigo Loan Terms by Business Type

Here are broader terms you need to understand depending on the type of your business

FMCG Distributors

If you are a dealer in fast-moving consumer goods, you are eligible to access up to ₦20, 000, 000 Lendigo loan through its Distributor Finance product. What you need to understand are:

Distributor Finance Terms

Credit Amount: ₦1, 000, 000 – ₦20, 000, 000
Interest Rate: 2.75% per month
Other Fees (processing/commitment): 1% of credit amount
Tenor: 1 – 6 months

Eligibility for Distributor Finance

To qualify for this Lendigo loan, you need to satisfy the following:

You have a registered business as LLP, PLC or Ltd
The business is incorporated at least two years ago
Your monthly purchase value is not less than ₦1, 000, 000
With a turn over of at least ₦500, 000 every month
And the products are from a well-known company (especially one listed on the Nigerian Stock Exchange)

Distributor Finance Requirements

Once you are eligible, the documents you will need to submit for credit facility processing are:

Government Issued ID Card (International Passport, National ID, Driver’s License, Voters ID)
Corporate Affairs Documents (CAC form 2 & 7) (if applicable)
Last 12 month’s sales data with the proposed principal company
Last 12 months Bank Statements (Corporate Account)
BVN of the directors and top management
Proof of being a registered supplier/vendor of the principal company for at least 12 months
Signed Personal Guarantee forms for CEO and another Guarantor
Corporate guarantee through Board Resolution (if LTD Company)

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eCommerce Merchants

This facility caters for businesses selling through online malls like Jumia and Konga.

If you have been actively doing business on any of the shopping portals for at least the last six months, you can apply to access Lendigo loan up to ₦10, 000, 000.

eCommerce Finance Terms

Credit Amount: ₦300, 000 – ₦10, 000, 000
Interest Rate: 4% per month
Other Fees (processing/commitment): 0.5% – 0.75% of credit amount
Tenor: 1 – 6 months

Eligibility for eCommerce Finance

To qualify for this Lendigo eCommerce loan, you need to satisfy the following:

You have an active operation for the last six months on any of the popular shopping portals
With a recurrent revenue of at least ₦100, 000 every month
And you have a good credit history

eCommerce Finance Requirements

Once you are eligible for this Lendigo loan, the documents you will need to submit for credit facility processing are:

Any government-issued means of identification (International Passport, National ID, Driver’s License, Voters ID)
Business registration documents (CAC 2 & 7) (if applicable)
Your bank verification number (BVN)
NUBAN cheque (if loan above ₦1,000,000)
Filled direct debit form (REMITA)
Signed Personal Guarantee forms and another Guarantor
Corporate guarantee through Board Resolution (if LTD Company)

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Mobile Money Operations

If you have a monthly revenue of at least ₦100,000 with an active operation in the last six months and have a POS terminal from a recognised (licensed) provider, you may be eligible.

MMO Finance Terms

Credit Amount: ₦300, 000 – ₦10, 000, 000
Interest Rate: 4% per month
Other Fees (processing/commitment): 0.5% – 0.75% of credit amount
Tenor: 1 – 6 months

Eligibility for MMO Finance

To qualify for this Lendigo mobile money agent loan, you need to satisfy the following:

You have an active operation for the last six months with at least a POS device from a recognised financial company
And you processes at least 20 transactions per week through one of your POS terminals
With a recurrent revenue of at least ₦100, 000 every month
And you have a good credit history

MMO Credit Requirements

Once you are eligible for this Lendigo loan, the documents you will need to submit for credit facility processing are:

A government-issued means of identification (International Passport, National ID, Driver’s License, Voters ID).
CAC Documents (CAC 2 & 7) (if applicable).
Last 12 months Bank Statements (Main Account).
BVN of the business owner.
NUBAN cheque (if loan above ₦1,000,000).
Filled direct debit form (REMITA).
Signed Personal Guarantee forms and another Guarantor.
Corporate guarantee through Board Resolution (if LTD Company)

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Other SMEs

If your business does not fall in any of the above categories, you can still be provided Lendigo loan if you meet the requirements.

Other SMEs Finance Terms

Credit Amount: ₦300, 000 – ₦10, 000, 000
Interest Rate: 3.5% per month
Other Fees (processing/commitment): 1% of credit amount
Tenor: 1 – 6 months

Eligibility for Other SMEs Finance

To qualify for this Lendigo other SMEs loan, you need to satisfy the following:

Your business or company is registered in Nigeria as LLP, PLC or Ltd.
And incorporated for at least 2 years.
It is able to show a minimum turnover of ₦500,000 monthly.
Your company is purchasing goods above ₦1, 000, 000 on a monthly basis.

Other SMEs Finance Requirements

Once you are eligible for this Lendigo loan, the documents you will need to submit for credit facility processing are:

A government-issued means of identification (International Passport, National ID, Driver’s License, Voters ID).
CAC Documents (CAC 2 & 7) (if applicable).
Last 12 months Bank Statements (Main Account).
BVN of the business owner.
NUBAN cheque (if loan above ₦1,000,000).
Filled direct debit form (REMITA).
Signed Personal Guarantee forms and another Guarantor.
Corporate guarantee through Board Resolution (if LTD Company)

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How Lendigo Loan for SME Compare to Other Lenders

Provider	Amount	Interest Rate	Max Tenor
Fewchore	₦50,000 - ₦3,000,000	4%	12 Months	Apply
AB Microfinance Bank	₦3,000,001 - ₦10,000,000	3% - 4.7%	24 Months	Apply
Access Bank	₦250,000 - ₦5,000,000	3%	6 Months	Apply
Accion Microfinace Bank	5726#	3% - 6%	24 Months	Apply
CIT MFB	₦500,000 - ₦20,000,000	4%	6 Months	Apply
Carbon	₦300,000 - ₦20,000,000	5%	6 Months	Apply
Eco Bank	₦300,000 - ₦20,000,000	4%	6 Months	Apply
Fidelity Bank	₦300,000 - ₦30,000,000	3%	6 Months	Apply
Vanir Capital	₦50,000 - ₦10,000,000	4% - 10%	12 Months	Apply
FCMB	₦500,000 - ₦6,000,000	6% – 30%	36 Months	Apply
First Source	₦100,000 - ₦1,000,000	5.5%	6 Months	Apply
GTBank QuickCredit	₦250,000 - ₦10,000,000	1.33%	12 Months	Apply
Ibile MFB	₦500,000 - ₦20,000,000	3.5%	6 Months	Apply
Lendigo	₦300,000 - ₦10,000,000	2.75% - 4%	12 Months	Apply Read More
Baobab MFB	₦20,000 - ₦10,000,000	4.7%	18 Months	Apply
LAPO MFB	₦30,000 - ₦5,000,000	5% – 25%	12 Months	Apply
Renmoney	₦50,000 - ₦6,000,000	35.76%	12 Months	Apply
Skystone Capital	₦100,000 - ₦4,000,000	6%	4 Months	Apply
Fast Credit	₦100,000 - ₦3,000,000	6%	15 Months	Apply
Lidya	₦150,000 - ₦20,000,000	3.5%	12 Months	Apply