By Afiwe · Reviewed 21 Oct 2026. This is general factual information, not advice or a recommendation.
What an SME loan is
SME lending is finance intended for a business. It may be offered by a commercial bank, microfinance bank or finance company, subject to the provider's licence and product scope. A provider's appearance in a register does not mean every applicant qualifies.
The application process
Providers publish their own application channels and eligibility rules. A business can review those rules, request the provider's current product documents, submit an application through the official channel and receive the provider's decision. Afiwe does not collect loan applications or arrange approvals.
Documents a lender may request include business registration information, identity documents, evidence of business activity, account statements and details of security or guarantors where applicable. These are examples, not a universal checklist: the actual requirements belong to the lender.
Reading the terms
Public product information may distinguish the amount available, repayment schedule, interest calculation, charges and security requirements. A quoted interest percentage alone does not describe the full cost. If a figure or condition is missing, Afiwe links to the provider rather than estimating it.
An applicant can ask the provider for the applicable written terms, including fees, late-payment treatment and any early-settlement conditions. Only the provider can confirm the offer and eligibility for a particular application.
Checking who provides the loan
The legal name in an application or contract can differ from an app's brand. The relevant Central Bank of Nigeria (CBN) register and the institution's official website provide separate evidence about the licensed entity and its published product. Afiwe's check dates are records of a review, not live licence guarantees.
Explore the relevant listings
Alphabetical or numeric ordering only. Every available figure has an official source and a check date.
View Nigeria lendersOfficial sources
- Central Bank of Nigeria (CBN) — financial institutions
- Central Bank of Nigeria (CBN) — microfinance banks
- Central Bank of Nigeria (CBN) — finance companies
Register entries and product documents can change. Confirm current status and details with the regulator and provider before acting.