Get quick loans to meet your urgent needs

We value and reward loyalty and consistency

Exclusive interest free loans for our VIP customers

We work with you, for you, and never against you

Whether you need N50,000 tomorrow or an urgent N2,000, Irorun is one of the top loan apps in Nigeria, helping you borrow money online easily, and with low interest.

At Irorun, we understand your needs and, as you continue to repay your loans, we reward loyal customers with higher loan limits up to ₦50,000, low interest rates, and exciting perks like birthday gifts and bonuses for referring friends to borrow easily and meet their financial needs with us.

We reward our loyal customers with special perks, including interest-free loans for a limited time, so you can meet urgent needs without worrying about high interest rates.

With only a few clicks on your smartphone, you can
pay all of your bills and top up your airtime at the
lowest possible cost.

We will never misuse your data, resort to shady debt collectors, or harass your friends and family. If you are having issues with your repayment just reach out to us. We are always here to help.


“We’ve calculated your APR and emailed the xwyzgegbkirjztycb….do you have any questions?”

“None at all! Where do I sign?”

Eissss stop there!!!

Did you truly understand or you just wanted to sign and collect your money?

We understand that you need a quick fix and can’t wait to complete your loan approval process, but being ignorant of the terminologies can cause you great financial loss in the future, especially with bad lenders.

You must understand every term the lender uses during your loan application. And that’s why we’ve curated 10 easy-to-understand terminologies for you below;

Read more: [How to boost your credit score](https://irorun.com/blog/how-to-boost-your-credit-score)

## Borrower/Debtor
This is the person who takes out a loan from a lender and has a legal obligation to repay with any added fees. (Yes! Amaka na borrow you borrow the money, no be dash them dash you).

## Lender/Creditor
This is an organization or an AUTHORIZED individual that lends money to a borrower to provide help while making a profit. Emphasis on authorized. That dodgy-looking man that lends money to people and beats them up when they don’t pay is not an authorized lender. They have a name — “Loan Shark” (Shine your eye and borrow from legitimate sources o!).

## Debit card
The card we all know and love. This card is connected to your bank account from which you carry out both online and offline transactions with the use of an Automated Teller Machine (ATM) or a Point-of-Sale machine (POS). It is also used as a means of loan repayment, although it shares similarities with the direct debit means of payment. There’s a slight difference in loan fees which debit cards tend to charge higher fees.

Read more: [What you should know about loan penalty charges](https://irorun.com/blog/what-you-should-know-about-loan-penalty-charges)

## Direct debit
Now that your loan has been approved, repayment options are made available and one of them is DIRECT DEBIT. This is when money to repay is taken directly from your bank account only after being AUTHORIZED by you, as your bank cannot allow such to happen without your permission. It is a seamless process and only requires you to submit a mandate to your bank giving the lender permission to debit your account when the loan is due.

## Guarantor
This is a person that comes in only when the borrower is unable to repay the loan. This person could be a friend or family who signs an agreement, alongside the borrower, to take responsibility for a loan if the borrower defaults or does not pay. Once you’ve agreed to be a loan guarantor, it’s almost impossible to withdraw from the responsibility without the express approval of both the lending authority and the borrower. Most of the time, the lender will only approve if there’s another loan guarantor (Siri play Oniduro mi ese o! Because you’re Oniduro for life ).

Read more: [5 qualities of a good borrower](https://irorun.com/blog/5-qualities-of-a-good-borrower)

## Installment loan
“I go pay the money small-small before you know e don finish”

An installment loan is the above. It is a type of loan where the borrower repays a portion of the principal and also pays interest on the loan in regularly scheduled payments. This is mostly done for large amounts of loan in an attempt to lessen the financial burden on the borrower. (Aww so thoughtful of us abi?).

## Default
This refers to failure to meet the repayment date following what was stated in the promissory note as a result of financial constraints, money emergencies or witchcraft. Yes! Witchcraft (why won’t you pay back what you borrowed na?). Irorun understands that life happens and if for any reason you find yourself struggling to pay back. Don’t. Ghost. Us. Reach out to us at support@irorun.com and we’ll restructure your loan terms.

## Loan deferment
Sometimes life happens and you might default on your repayment date. Relax it’s not the end of the world . Ethical and authorized lenders have a system that delays your loan payment without violating the loan terms. It is an extension of your loan period by the amount of time you are unable to pay. It serves as an option during loan restructuring. This puts you out of the bureau blacklist and saves your reputation. (See why e good to meet better lender?).

Read more: [5 reasons why your loan was declined](https://irorun.com/blog/5-reasons-why-your-loan-was-declined)

## Loan limit
“If something too sweet e dey run for belle”

And that’s why a loan limit serves as the maximum amount of money the lender will loan to a borrower based on several factors (income, creditworthiness, lifestyle). It helps reduce the issue of runaway borrowers and losses by checkmating the criteria for large amounts of loans. If you have ever wondered why you can’t get bigger loans and what you can do to change that. You should check this out, so you can increase your loan limit as well.

## Principal
This is the original amount of money without any interest and/or charges. It is the amount that ‘you say you want to’ borrow. For example, If you borrow N10,000,000 to buy a car and your loan amounted to N10,050,000. Your principal is N10,000,000. It is the main part of your loan.

Read more: [How to qualify for a loan with a low income](https://irorun.com/blog/how-to-qualify-for-a-loan-with-a-low-income)

…

Do you want to learn more loan terminologies in this same fun way? Reach out to us at support@irorun.com

You want to inquire how to get started on your loan application? Reach out to us at [support@irorun.com](mailto:support@irorun.com)

You have further questions or need us to work with you through taking a loan with us? Reach out to us at support@irorun.com

Also, tell a friend about us!

10 loan related terms you must know

It’s funny how life can change in the blink of an eye. One minute, everything’s fine, and the next, you’re scrambling to cover an unexpected expense. On a regular Thursday afternoon Ade received a call that his younger brother had been involved in a minor accident. Thankfully, nothing too serious. But, as you’d expect, the hospital needed payment for scans and medications. He had just sent money home for some family needs the day before, and payday was still five days away, and he couldn’t afford to wait. 

Stories like Ade’s are all too common. In moments like these, knowing where to get an urgent 10,000 naira for just seven days can make all the difference. Whether it’s a a medical emergency, or a sudden transportation cost, having immediate access to a small loan can save the day.

## How 10,000 naira can save the day
10,000 naira might seem like a small amount in the grand scheme of things, but in urgent situations, it can mean the difference between panic and peace. We often overlook how much a little extra cash can help when life throws unexpected challenges our way. 
Here are a few ways that 10,000 naira can help solve problems before they grow into bigger issues:
- Medical needs
You never know when you might need urgent funds for medical reasons. Maybe it’s not a life-threatening emergency, but hospitals don’t care about that when they ask for a deposit or payment. 10,000 naira can help you buy medications, cover consultation fees, or pay for basic medical tests when the unexpected happens.
- Home repairs
Imagine this: you walk into your kitchen, and the tap has suddenly decided to flood the entire floor. Or your gas cylinder runs out in the middle of preparing dinner, and there’s no backup. These situations are common in Nigerian homes, and while they’re not life-or-death emergencies, they demand quick solutions. A small loan of 10,000 naira can give you the funds to fix these minor but annoying inconveniences.
- Travel and transport
Sometimes, you have an unexpected trip you can’t avoid. Maybe it’s to visit a relative who suddenly fell ill, or perhaps your car breaks down, and you need to get it fixed. Either way, transportation costs pile up, and you can’t afford to be stranded. 10,000 naira can cover the cost of a repair or buy enough fuel to get you where you need to be.
- School-related expenses
If you have children in school, you know how random expenses can pop up — whether it’s money for textbooks, uniforms, or a field trip. It might not seem like a big deal, but if your child’s education is at risk, even 10,000 naira can make a huge difference in keeping things running smoothly.

These scenarios are everyday occurrences, but they can create unnecessary stress if you don’t have enough money on hand. A 10,000 naira loan, even for just a week, can be the buffer you need to handle these surprises smoothly.

## Where to get an urgent 10,000 naira loan
If you ever find yourself needing an urgent loan, [Irorun is a great option to consider](https://irorun.com/). Irorun, meaning "peace of mind" in Yoruba, offers loans ranging from 1,000 to 50,000 naira with a simple, user-friendly process designed for emergencies.
Whether you’re employed, self-employed, or in-between jobs, Irorun makes borrowing money easy and accessible. All you need is your [BVN](https://irorun.com/blog/why-do-lenders-need-bvn-is-it-necessary-to-get-a-loan), [a valid ID](https://irorun.com/blog/what-you-should-know-about-uploading-id-on-irorun), and some basic details to apply. The best part? The approval process is incredibly fast, and once your application is approved, the money is sent to your account in minutes. With an interest rate of 10% to 15%, Irorun offers flexible repayment terms, allowing you to borrow for 7 days or even up to 30 days, depending on your needs.

## Why choose Irorun?
There are plenty of loan platforms available today, but Irorun stands out for several reasons:
- No collateral or paperwork: Forget about running around trying to gather paperwork or find collateral. With Irorun, the process is straightforward. No lengthy forms or credit checks are required.
- Fast approvals: When you’re dealing with an emergency, time is everything. Irorun’s quick approval process means you won’t have to wait for days to get your money.
- Transparent fees: You’ll know exactly what you’re paying for with Irorun’s flat 15% interest rate and a small processing fee, so there are no hidden surprises.
- Convenient access: Whether you’re using their mobile app or the website, Irorun’s platform is available 24/7, making it easy to apply for a loan anytime, anywhere.
- Flexible repayment: With up to 30 days to repay the loan, you can choose a repayment plan that works for your schedule without feeling pressured to pay back the money too quickly.
- No harassment: While it’s common for [loan sharks](https://irorun.com/blog/how-to-deal-with-loan-sharks) masquerading as lenders to use extreme and unethical measures to recover loan, Irorun does not harass its customers whether they’ve defaulted or not.

## When you need 10,000 naira, Irorun is here
Life is unpredictable, but you don’t have to feel stuck when you run into a sudden financial bump in the road. Whether it’s covering an urgent medical need, home repairs, or school-related expenses, having [access to a quick 10,000 naira loan from Irorun](https://lendsqr.com/lenders/irorun) can be the difference between chaos and calm.
The next time you find yourself in a tight spot, remember that [Irorun](https://irorun.com/) is just a few clicks away, ready to offer the financial support you need to get through the week. When unexpected expenses arise, Irorun provides a reliable, simple solution that puts peace of mind within reach. [Apply for 10,000 for 7 days now](https://irorun.com/loans/10000-naira-7-days).


Where to get urgent 10,000 naira for 7 days


Hi there! Irorun here again. Today, we’re answering the age-long question of our valued user — YOU.

In this article, we provide clear answers to the question — ‘What does it mean when my loan is pending?”

Sadly, the misconception some Irorun users have is that; their loan application is denied because their documents are pending. They see that even when all stages of their verification/application are complete (or sometimes not), their Irorun dashboard still reads as “pending”. Therefore they conclude their loan application has been rejected.

But, here’s the thing; a pending loan application doesn’t translate to rejection. There are a couple of reasons why your loan is still pending…

## Final verification check
Until this final verification check is done. Your Irorun dashboard will read as “pending”

To keep your data safe and prevent identity theft, the Irorun loan application process has checks in place that must be completed before your loan can be approved and the “Phone call verification” check is one of them.

After you apply for a loan, you’re instantly sent an email with a number you’re required to call and speak with an Irorun representative as a means of further verification. Once you complete this process, the Irorun system carries out additional checks before approving or denying your application.

During this period, your app dashboard shows “pending”. This doesn’t mean your loan has been rejected but rather your documents and identity are being vetted.

Although, if for any reason you fail to carry out the phone call verification, your dashboard will continue to show “pending” with no change forthcoming.

After some time, Irorun will contact you via email to inform you that the phone call verification has not been carried out and inquire as to whether you would like to cancel or continue the loan application.

## Incomplete loan application/Irorun vetting process
Another likely reason why your Irorun dashboard still reads “pending” may be because of an incomplete or incorrect application. Not completing your application process or putting in invalid personal details may put the whole process at a standstill.

It could also be that Irorun is vetting your documents and checking your credit profile. So we can be in the safe zone as well. Remember, any lender that’s not afraid to lose their money is a walking red flag .

Know that it’s never Irorun’s intention to cause our loyal users any form of distress and that’s why our loan application is seamless and fast.

## Bonus point
Here’s one final misconception to fact-check — a pending loan status does not mean that your loan repayment date has started counting!

Let us put your mind at ease now, your loan only begins to count after it’s been approved and your loan disbursed.

…

As always, we’re available to answer your questions — whether it’s to confirm facts or simply make inquiries you can always reach out to us at support@irorun.com!

What does it mean when your loan is pending?

We’ve all been there. It’s mid-month, and your wallet feels lighter than a feather. You think you’re good until you remember your transport budget is spent, the stove’s out of kerosene, or you get a call about an unexpected bill. Suddenly, that small 5,000 naira becomes the difference between calm and chaos.
But in a country with a minimum wage of N30,000, N5,000 might not sound like much. Still, when life happens — and it often does — this “small” amount can feel huge. And for many Nigerians, having quick access to just 5,000 naira could make all the difference. It’s the lifeline that keeps your day running smoothly or helps you manage an unexpected crisis.

## What can 5,000 naira do for you?
Don’t let the number fool you. N5,000 can stretch surprisingly far. Imagine needing medicine at the pharmacy or a last-minute grocery run. Maybe you’ve run out of gas for cooking, or worse, you need urgent transport to an important meeting.
These aren’t “luxury” expenses but essential ones. And with N5,000, you can cover those emergency needs without digging into funds meant for rent, school fees, or other significant expenses. It’s the cash buffer that helps you keep things on track when life throws a wrench into your carefully planned budget.
[According to a recent report, about 40% of Nigerians live on less than N10,000 per month](https://www.thisdaylive.com/index.php/2024/06/07/bagudu-despite-economic-growth-40-of-nigerians-still-live-below-poverty-line/), which makes N5,000 significant for short-term relief in tight situations. It’s not about reckless spending. It’s about preparing for life’s little surprises.

## Where can you get an urgent 5,000 naira loan?
True to its name, which means "peace of mind" in Yoruba, [Irorun](https://irorun.com/) offers a hassle-free way to get a loan ranging from N1,000 to N50,000 without collateral or extensive documentation. You can apply through our app or website, and your loan will be disbursed in minutes. Irorun’s flat interest rate is around 15%, with a processing fee of N400. The repayment period is flexible, ranging from 3 to 30 days. It’s designed for Nigerians who need quick access to credit without jumping through hoops.

## Why choose Irorun?
Irorun stands out from the crowd not only because of its simplicity but also due to its customer-centric approach:
- No documentation: Just your basic details, BVN, and a valid ID. No need for cumbersome paperwork.
- Available for anyone: Irorun caters to all, whether you’re self-employed or working full-time.
- 24/7 online access: Get a loan anytime, anywhere — no waiting for business hours.
- Multiple channels: You can access loans via mobile and web app.

## What if you can’t get a loan from Irorun?
Irorun understands that sometimes, one may not qualify for a loan due to circumstances like poor credit history or insufficient verification. However, we don’t leave you hanging. We recommend other trusted platforms like [SnapCash](https://lendsqr.com/lenders/snapcash), [Urgent10K](https://www.urgent10k.ng/), and [Blocka Cash](https://blocka.cash/), ensuring you can still find the funds you need. This dedication to helping customers, even when they can’t assist directly, sets Irorun apart.

## Get 5,000 naira loan now!
Help is just a few clicks away. Whether you need N5,000 or more, [Irorun is here to support](https://lendsqr.com/lenders/irorun) you with hassle-free access to quick loans, keeping you focused on what really matters.



Where to get 5,000 naira urgent loan

Irorun is your go-to instant loan app in Nigeria for immediate relief. Need {{amount}} today? 

Apply now and enjoy the fastest service available.


Get {{amount}} for {{period}} {{period_type}} Instantly for Your Urgent Needs



Sign up to Irorun and get an {{amount}} loan for {{period}} {{period_type}} to meet your immediate needs without documents or collaterals. Get disbursed in minutes.

Get ₦10,000 for 7 Days Instantly for Your Urgent Needs

Irorun Blog

10 loan related terms you must know

Where to get urgent 10,000 naira for 7 days

What does it mean when your loan is pending?

Where to get 5,000 naira urgent loan

Download now