How to Apply for Lendigo Business Loan 2025: Interest & Limits - 9jaloan
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How to Apply for Lendigo Business Loan 2025: Interest & Limits

How to Borrow Money from Lendigo in Nigeria: Running a business often means facing cash flow challenges—from stocking up inventory to expanding operations or handling supplier payments. That’s where Lendigo comes in. Lendigo is a digital lending platform that provides fast, short-term loans to businesses across Nigeria. Whether you’re a small shop owner, an e-commerce seller, a distributor, or a POS agent, Lendigo offers loan amounts ranging from ₦300,000 to ₦20 million, with interest rates starting from 3.5% per month, and tenures of up to 6 months.

In this detailed guide, you’ll discover everything you need to know about Lendigo loan products, eligibility, application process, and customer support.

What Is Lendigo Loan?

Lendigo is a Nigerian business-focused loan provider that offers working capital to small and medium-sized enterprises. With a fully digital application process, Lendigo provides business loans to various sectors based on your historical sales, transaction volume, and corporate profile—no collateral required for most loan types.

Why Choose Lendigo?

FeatureDescription
Loan Range₦300,000 – ₦20,000,000
Tenure1 – 6 months
Interest RateFrom 3.5% monthly
Processing FeeFrom 0.5% to 1%
CollateralNot required for most loans
Application ModeOnline, mobile-based
DisbursementPaid directly to your business account

Lendigo Loan Types and Features

Lendigo provides multiple loan options tailored to business types and operations. Each product is designed with specific requirements and loan ranges.

Small Business Owners Loan

Ideal for retail and professional services, electronics traders, fashion outlets, and household goods vendors.

FeatureDetails
Loan Amount₦300,000 – ₦10,000,000
Interest RateFrom 4% per month
Tenure1 – 6 months
TargetRegistered SMEs operating for at least 2 years
Use CaseWorking capital, equipment purchase, expansion

E-Commerce Merchant Loan

Tailored for vendors on platforms like Jumia and Konga.

FeatureDetails
Loan Amount₦300,000 – ₦10,000,000
Interest RateFrom 4% per month
Tenure1 – 6 months
TargetOnline sellers with verifiable 12-month sales data
Use CaseInventory restock, logistics, advertising, business expansion

POS Agent Loan

Offered to merchants operating POS terminals with steady transaction records.

FeatureDetails
Loan Amount₦300,000 – ₦10,000,000
Interest RateFrom 4% per month
Tenure1 – 6 months
TargetPOS agents with consistent transaction volume
Use CaseFloat support, working capital, equipment purchase

Auto Dealer Financing

Designed for car dealers looking to grow their vehicle inventory or clear import payments.

FeatureDetails
Loan Amount₦300,000 – ₦10,000,000 (based on invoice)
Interest RateFrom 4% per month
Tenure1 – 6 months
TargetRegistered auto dealerships in need of flexible working capital
Use CaseVehicle acquisition, clearing costs, dealership expansion

FMCG Distributor Loan

Specifically for Key Distributors and Sub-Distributors of fast-moving consumer goods (FMCGs).

FeatureDetails
Loan Amount₦1,000,000 – ₦20,000,000
Interest RateFrom 3.5% per month
Processing Fee1% per invoice and facility
Tenure1 – 6 months
TargetCompanies with high-volume monthly purchases from FMCG manufacturers
Use CaseDistributor funding, supplier payments, bulk purchases

Loan Interest Rate, Fees and Repayment Duration

Product TypeLoan RangeInterest RateFeesDuration
Small Business / POS / E-commerce / Auto₦300k – ₦10mFrom 4% monthly0.5% – 0.75%1 – 6 months
FMCG Distributors₦1m – ₦20mFrom 3.5% monthly1%1 – 6 months

Lendigo Loan Eligibility Criteria

To qualify for a Lendigo loan, your business must meet the following criteria:

  1. Be registered in Nigeria as a Ltd, PLC, or LLP
  2. Operate for at least 2 years
  3. Show a minimum ₦500,000 monthly turnover
  4. Make monthly purchases above ₦1 million (for distributors)
  5. Distribute goods to at least one creditworthy client or platform
  6. Be a registered vendor/supplier for at least 12 months (where applicable)

Application Requirements

When applying for any Lendigo loan, you must submit the following:

  • Government-issued ID (e.g. NIN, driver’s license, passport)
  • CAC documents (Form 2 & 7 or updated Form 1.1)
  • 12 months bank statements (corporate account)
  • 12-month sales history or transaction reports
  • BVN of directors and senior management
  • Signed personal guarantee forms (CEO & guarantor)
  • Board resolution (if registered as a Limited company)

How to Apply for lendigo Loan (Step-by-Step Guide)

Applying for a Lendigo loan is fully digital and can be completed within minutes. Follow these steps:

  • Download the Lendigo App:
  • Create Your Business Profile:
    • Register your business with your phone number and email
    • Provide CAC registration and basic company details
  • Choose a Loan Type:
    • Select the loan product that fits your business
    • Enter desired amount and preferred repayment duration
  • Upload Documents:
    • Submit required documents directly in the app
    • Sales data, bank statements, IDs, and company certificates
  • Wait for Review:
    • Your application will be reviewed based on the submitted data
    • Approval time can range from a few hours to 1–2 days
  • Accept Offer and Receive Funds:
    • Review the loan offer and sign the agreement
    • Once approved, the loan is disbursed directly to your bank account

How to Repay Your Loan

Repayment is automated and flexible:

  • Auto-debit: The loan is automatically deducted from your linked corporate bank account on the due date
  • Manual repayment: You can choose to pay earlier via the Lendigo app dashboard
  • Early settlement: Allowed at any time without extra charges

Ensure your account is funded before the due date to avoid penalties or interest on late payments.

Lendigo Customer Care Contact

Need support with your loan or application?

Contact MethodDetails
Phone0812 289 1078
Emailsupport@lendigo.ng

Frequently Asked Questions

1. What is the minimum and maximum loan amount I can apply for?
You can access between ₦300,000 and ₦20,000,000 depending on your business type and financial profile.

2. How long does it take to get approved?
Loan approval can take anywhere from a few hours to 1–2 working days.

3. Do I need collateral to access Lendigo loan?
No. Most loan products don’t require collateral. However, a lien or asset debenture may apply for higher-value loans.

4. Can I repay before the due date?
Yes. Early repayment is allowed and helps reduce total interest.

5. What if I miss my repayment date?
Late repayment may attract additional interest and impact your business credit profile.

6. Can sole proprietors apply?
No. Your business must be registered as an LLP, Ltd, or PLC.

7. How is my loan amount determined?
It’s based on your company’s turnover, transaction history, and credit profile.

Conclusion

Lendigo offers one of the most flexible business loan platforms for SMEs, traders, and distributors in Nigeria. With a fast application process, no collateral requirements for most loans, and competitive interest rates, it’s a solid choice for growing or stabilizing your business.

If your business meets the basic requirements and you need funds to support expansion, restock inventory, or finance operations, Lendigo may be the right digital loan partner to explore. Always remember to borrow within your capacity and stick to repayment schedules to maintain a strong credit profile.

Be sure to check out our other related articles for more insights.

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