How to Get a Loan with Bad Credit in Nigeria (2025)
The Problem:
You've defaulted before or have poor credit history and need a loan
The Solution:
Start fresh with apps that use alternative data, rebuild your score with small loans, and avoid the mistakes that hurt your credit
Step-by-Step Guide
Understand Your Credit Situation
Check your credit report first. You can get one free report yearly from CRC, FirstCentral, or CreditRegistry. Know exactly what's on record before applying.
- Request free report from credit bureaus
- Review all listed debts and defaults
- Check for errors (wrong amounts, paid debts still showing)
- Dispute any incorrect information
Clear Outstanding Defaults
Many lenders won't approve you with active defaults. Try to settle old debts—even partial payment helps. Get 'paid' status updated on your credit report.
Try Alternative Data Apps
Some apps weight phone data more than credit bureau records. New apps entering the market may not have access to your old default history yet.
Start with Micro-Loans
Apps like Branch offer loans as low as ₦1,000. Take small amounts you can definitely repay. Build a new track record of on-time payments.
Consider Secured Options
If unsecured loans are denied, try: salary loans (if employed), cooperative loans, or loans against fixed deposits.
FAQs
How long do defaults stay on my credit report?
Can I pay to have defaults removed?
Will changing my phone number help?
Should I use someone else's BVN?
Need More Help?
Compare loan options or contact our support team.