Loan Apps Without BVN

Many may wonder, “Are there loan apps without BVN?” Yes! You can get a loan without BVN. This will be our focus in this article.

Peer-to-Peer Lending

Peer-to-peer lending has made borrowing and lending money easy, eliminating the presence of middlemen in such transactions. Apps that offer peer-to-peer lending include P2Vest, Kiakia, Sycamore, Farmcrowdy, etc.

P2Vest Loan App without BVN

This is an app that connects verified Lenders to verified Borrowers, who are Nigerian nationals and are at least 18 years old. Applying for a loan on P2Vest is easy once you have downloaded the apps. You can also apply to be a lender on the app. Clients can borrow between ₦5,000 to ₦2,000,000 for a tenure of up to 12 months.

How to Apply for a Loan on P2Vest

• Sign up for an account with your name, phone number email address and all other necessary information
• Choose a loan offer
  Select a loan offer and accept the terms of the Lender
• Set up your repayment plan
  Set up your automated repayment plan to pay off your loans in the most convenient and stress-free manner
• Instant Loan Credit
  Once you are done with these steps, your loan is credited to your preferred/provided account instantly.

P2Vest is located at 9 Dauda Fasanya, Bexley Court, Ikate-Lekki. The mobile application can be downloaded on the Apple App Store or Google Play Store.

Benefits of Peer-to-Peer Lending

• A number of different P2P platforms
• Unsecured loans available
• A form of debt finance — you’ll retain full control of your business
• Simple straightforward processes
• Very accessible
• Can raise capital very fast

Limitations of Peer-to-Peer Lending

• There may be extra charges for using the platform
• Typically smaller loan amounts raised
• Interest rates can be high — especially for newer businesses and startups
• Still need to pass credit checks — like with conventional lending

Accessing a loan from a bank app does not require your BVN as long as you have an account opened/created with such a bank. Also, there are few loan apps without BVN, hence peer-to-peer lending.