Lendigo: How to get Business loans, requirements & more


Owning a business is very exciting. However, business owners constantly have to spend, especially during the early stages. In this post, business owners will learn how to apply for business loans on the Lendigo loan service.

What is Lendigo and how does it work?

Lendigo is a fintech company that lends working capital to small and medium-sized businesses in Nigeria.

Lendigo grants loans based on the individual requirements and financial needs of every business. You can obtain up to ₦10 million on this platform.

If you’re a business owner in Nigeria, you can apply for short-term loans on the Lendigo loan platform. You will use the money obtained to grow your business and repay later.

Lendigo loans have low-interest rates, depending on the nature of your business. If your loan application is approved, it will be sent to your bank account.

Lendigo mobile app download

Access and use Lendigo on browsers and mobile phones

As of the moment of writing this article, Lendigo is available on browsers and also Android phones. You can access and use Lendigo on a browser or download and install the mobile app.

You can easily apply for a business loan on the Lendigo mobile app. Your business does not need to be registered with the Corporate Affairs Commission (CAC) before you request a loan.

You can download and install the Lendigo Mobile app directly from the Google Play Store. It has a small size of 12 MB and over 100,000 downloads. It currently has a review rating of 4.0 from over 3,800 users.

It’s very easy to obtain a loan for your business on Lendigo. You can select one out of the four business loan options available on Lendigo.

Lendigo business loans for small and medium-sized businesses (SMEs)

Starting from ₦300,000

This loan is for businesses that deal in retail and professional services. You can also apply for this loan if you sell merchandise like Electronics, Computing, Phones, Fashion & Apparel, and Household Goods among others.

Eligibility criteria for SMEs

  1. Your business must have been running for a minimum of 12 months
  2. Your business must be a type that has a minimum turnover of ₦250,000 per month
  3. As of the moment of application, your business must not be a debtor of another financial institution

Required documents for SMEs

  1. Government-issued means of identification (International Passport, National ID, Driver’s License, Voters ID)
  2. Last 12 months Bank Statements
  3. CAC Documents (CAC 2 & 7) (if your business is registered)
  4. BVN and NIN of the business owner
  5. NUBAN cheque (if you’re applying for a loan amount of more than ₦1 million)
  6. REMITA filled direct debit form 
  7. Signed Personal Guarantee forms and another Guarantor (if applicable)
  8. Corporate guarantee through Board Resolution (if your business is a Limited Company)

Know more and apply here.

Lendigo business loans for POS agents

Starting from ₦300,000

This loan option is for POS merchants that need money to settle operational costs and also working capital.

Note: Approval for this type of loan will depend on the volume of your previous transactions. Repayments will be made through weekly deductions from your profit.

Eligibility criteria for POS agents

  1. Your POS business must have been existing and active within the past 6 months
  2. Your POS business must have at least one POS Terminal, and it must be obtained from a CBN-Licensed POS Aggregator.
  3. Each POS device must process a minimum of 20 transactions per week. This means that if you have 3 POS devices, you must process at least 60 transactions in a week
  4. This POS business must have earned a revenue of at least ₦250,000 within the last 6 months
  5. Your business must be debt-free at the moment of application

Required documents for POS agents

  1. Government-issued means of identification (International Passport, National ID, Driver’s License, Voters ID)
  2. CAC Documents (CAC 2 & 7) (if applicable)
  3. BVN of the business owner
  4. NUBAN cheque (if loan above ₦1,000,000)
  5. Filled direct debit form (REMITA)
  6. Signed Personal Guarantee forms and another Guarantor
  7. Corporate guarantee through Board Resolution (if LTD Company)

Know more and apply here.

Lendigo business loans for FMCG distributors

Starting at ₦1 million

This business loan is for registered Key-distributors and Sub-distributors of established Fast Moving Consumer Goods (FMCG) manufacturers.

Eligibility criteria for distributors

  1. Your company must be registered in Nigeria as LLP, PLC or Ltd
  2. This company must have been incorporated for at least 2 years preceding your application
  3. Your company must be able to generate a revenue of at least ₦500,000 per month
  4. Also, your company should be a type that purchases goods worth more than ₦1 million every month
  5. You must have been distributing to at least one popular or trustworthy client (examples of this are private international companies present on the stock exchange market)
  6. You will need a lien or an asset debenture before you can obtain this loan

Required documents for distributors

  1. Government-issued means of identification (International Passport, National ID, Driver’s License, Voters ID)
  2. CAC Documents (CAC 2 & 7) (if applicable)
  3. BVN of the business owner
  4. NUBAN cheque (if loan above ₦1,000,000)
  5. Filled direct debit form (REMITA)
  6. Signed Personal Guarantee forms and another Guarantor
  7. Corporate guarantee through Board Resolution (if LTD Company)

Know more and apply here.

Lendigo business loans for E-commerce merchants

Starting from ₦300,000

This type of loan is for businesses that trade on big E-commerce platforms. Common examples are Jumia and Konga.

Eligibility criteria for E-commerce merchants

  1. Your business must have been active on E-commerce platforms like Jumia for at least 6 months
  2. Your online business should be a type that has regular sales
  3. This online business must have generated a revenue of at least ₦100,000 within the last 6 months
  4. Your business must not be in debt to any individual or financial institution

Required documents for E-commerce merchants

  1. Government-issued means of identification (International Passport, National ID, Driver’s License, Voters ID)
  2. CAC Documents (CAC 2 & 7) (if applicable)
  3. BVN of the business owner
  4. NUBAN cheque (if loan above ₦1,000,000)
  5. Filled direct debit form (REMITA)
  6. Signed Personal Guarantee forms and another Guarantor
  7. Corporate guarantee through Board Resolution (if LTD Company)

Know more and apply here.

Lendigo business loan repayment term

All business loans provided by Lendigo have a loan repayment term of 1 to 6 months. This is very flexible and will be convenient for business owners.

At least, a good business should be able to generate back its startup and working capital after 6 months.

Lendigo business loan interest rates

The interest of Lendigo business loans varies, depending on the nature and size of your business.

  • Small and medium-sized enterprises: Interest rates start from 4.75% per annum
  • POS agents: Interest rates start from 4.75% per annum
  • Distributors: Interest rates start from 3.5% per annum
  • E-commerce merchants: Interest rates start from 4% per annum

Where is Lendigo head office located?

Lendigo business loans service has a physical office in Nigeria where they manage the loan services they offer.

You can also visit the office for complaints and enquiries. It is located on the 4th Floor, 13 Town Planning Way, Ilupeju, Lagos State, Nigeria.

Lendigo loan customer support and email address

You can always reach out to Lendigo customer support staff in case you have any issues with the loan service. You can also contact them to discuss finance-related talks with them.

For phone calls: 0812 289 1078

Official website: Lendigo.ng

Email address: support@lendigo.ng



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