Do you know how you ask a friend or family member for some funds with a promise to pay back at a certain date? 

Peer to peer (P2P) lending is similar to that, with the only difference being that your lender would enjoy some interest on the money they lent out. 

Thanks to technology, you can borrow directly from private individuals who are willing to fund your loan request.

Unlike traditional lending, with peer to peer lending, business owners do not have to deal with bankers or other formal lenders. Private individuals offer funds via a platform directly in exchange for a share of the profits or interest.

There are a few platforms where businesses can go to access peer to peer loans in Nigeria, but why should you bother to fund your business via a p2p platform? 

One of the most important reasons is that with p2p lending, your loan application is faster than most traditional options (Loans can be approved anywhere from a few hours to a few days).

Small businesses find them particularly interesting because of their interest rates which are competitive at worst and cheaper at best when compared with traditional financial institutions. They are also more transparent both for the lender and borrower.

Related Article: 3 Tips For Managing Your Small Business Loan

Where to Access P2P Loans for Your Small Business 

1. FINT – FINT is one of the leading peer-to-peer lending platforms in Nigeria. FINT was established in 2017 as a financial technology company with a mission to power access to affordable credit and attractive investments for individuals and small businesses in emerging markets. 

Via the FINT platform businesses can access up to 20 million Naira in loans which is pooled from private individual investors. The interest rate varies on the platform depending on the lender. 

Interest rates vary between two per cent monthly and 39% per annum with an additional 8% commitment fee which is paid after payment of the loan. To access p2p loans via FINT, you can visit their website at 

2. Kia Kia – Like FINT, Kia Kia is a P2P platform that was launched in 2015. The company aims to promote financial inclusion in Nigeria by making direct loans accessible at flexible rates to people who may not be able to access loans from traditional banking institutions.

They offer loans from N10,000 to N200,000 at an Interest rate of 22.4% – 24.8%. In 2019, KiaKia clinched the InFINCA Award for Best Peer-To-Peer Platform in Nigeria.

To access business loans via the KiaKia platform, please visit