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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.


If you’ve ever wondered what questions you should ask a prospective lender before you say Yes! to the loan. We’ve got you!

No more falling prey to bad and unethical lenders and that’s why [Irorun](http://irorun.com/) has curated 5 questions you can ask your lender:

## What other fees are there?
Some people believe that all there is to a loan is the money they intend to borrow (principal) and the interest. Fortunately, Irorun is always willing to educate and clear up myths.

There could be more. In fact, there are always more. Many lenders include processing fees that are either; to be paid before you receive your loan, fees to maintain your loan or fees for the repayment of your loan.

Each fee varies depending on the loan amount, loan type, repayment terms and the lender. Some fees are non-negotiable; meaning that if you are to be charged, the amount cannot be changed.

You must know that some fees may not apply to you but an unethical lender who wishes to take advantage of your ignorance may charge you ruthlessly and that’s why it’s important for you to ask your prospective lender for all fees connected to your loan, why they’re charged and if there’s any room for adjustments. [Here’s how you can report unethical lenders](https://blog.lendsqr.com/how-to-report-lenders-for-unethical-practices/).

## When does the late fee start counting?
The late fee or a penalty charge is the fee you have to pay when you are unable to pay back your loan as of when due and as such, it is dependent on the lender. Lenders tend to have a grace period that is given to borrowers when they fail to repay their loan on the due date.

Some lenders typically give a grace period of 3–60 days, depending on the size of the loan. These differences between lenders’ grace periods make it important for you to question your lender on when your late fee starts counting. (To prevent a case of “Had I known …”).

Usually, failure to pay after the grace period will lead to you being reported and registered as a loan defaulter, depending on the loan type and terms. [Here’s how to repair your default history with the credit bureaus after clearing your debt](https://medium.com/@Theirorunapp/how-to-repair-your-history-with-the-credit-bureaus-c5ffd45a52f2).

## How long will the loan process take and how soon do I receive funds?
Just like every other important process, loan processing takes time depending on the loan type and amount, total loan processing (which includes application, approval and funding) can take 3 to 7 business days on average for online lenders and credit unions. Although [Irorun](http://irorun.com/) will process your loan within a couple of hours!

Remember to ask your lender about the length of time it may take to get your loan approved and disbursed especially if you are in a tight spot and need the money as soon as possible.

## Is there room for loan term restructuring?
This particular question should be of high priority, because an emergency or uncontrollable event may happen at any time, so you need to be prepared to make adjustments to accommodate these situations.

A lost job or other unforeseen circumstances could affect your ability to pay back your loan. This is why you must prioritize finding a lender that offers room for restructuring loan terms. If you find that for some reason it may be difficult for you to meet up with your loan obligations to Irorun, shoot us an email at support@irorun.com so we can work it out.

Not all lenders offer this, so it’s best to make enquiries about it from your prospective lender. Knowing that you have the option of restructuring your loan term if you hit a roadblock calms any anxiety you may have about taking out a loan. The goal is to jump and pass lenders with rigid terms that can cause high BP.

## What are the terms and conditions I should be aware of?
Pleasee!!! Read and re-read the fine prints…

You shouldn’t take out a loan without knowing the complete terms and conditions involved. Endeavor to read the given terms and conditions, and ask questions about the things you don’t understand because there could be some hidden clauses in the fine print.

The terms and conditions govern everything about the loan you take, so there is no room for ignorance ma’am. If you can’t understand the terms and conditions, ask the lender to clarify or have someone there with you who can understand. As a rule of thumb never sign a document you’re yet to grasp what it entails.

…

If you have more questions, send us a message at support@irorun.com.

As always we’ll be available to provide answers and maybe even solutions!

Until next time…Tell someone new about us!

5 Questions to ask your lender

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

Salary week has never looked so far! Ah

You’ve considered taking a loan so many times but sadly there are so many myths surrounding them. You don’t know what to believe anymore!

This is why Irorun is bringing to you 10 interesting facts to dispel these myths.

Read more: [Where to get 20,000 naira loan in Nigeria](https://irorun.com/blog/Where-to-get-an-urgent-50,000-naira-loan)

## Loans are as old as time

Did you know that the history of loans is traced as far back as 4000 years ago? It began with farmers borrowing capital for their business using grains and farm produce as repayment options (Look how far we’ve come now with digital lending!).

## Fear loan sharks

“Patience is a virtue” — but this cannot be said for people like Ade who borrow from loan sharks (Ade you sef like problem o!)

Loan sharks are lenders without license who usually charge very high interest rates and can sweet talk you into taking more loans than you can repay..

They always seem friendly from the get-go until…bam! You miss your repayment date!

Loan sharks are illegal in most countries including the USA, UK, Norway etc…

Read more: [Know your rights as a borrower](https://irorun.com/blog/know-your-rights-as-a-borrower)

## Payday loans are for the working-class

Just as the words are — Payday loans are loans given out to be paid back at your next payday. This especially works well if you are a 9–5er or an Entrepreneur with a steady inflow of cash monthly.

## Most loans don’t need collateral

Not all loans require you to have an asset as collateral. Some personal loans only need you to have a steady inflow of cash to be eligible.

You can use personal loans for emergencies without having to use collateral.

## Some religions frown at loans

In the Islamic religion charging of interest on loans is termed “Riba” — which is forbidden under Shari ‘ah law. They find it unethical and exploitative to charge high-interest rates on loans from persons who are most likely at their lowest point.

But at Irorun , you can always reach out to us at [support@irorun.com](mailto:support@irorun.com) to choose a loan/repayment structure that is just right for you!

## Banks primarily make money from loans

So next time your bank is stressing you out with so much paperwork or says an unwavering NO! to your loan request — Ask them what’s the colour of their problem, abi they don’t like money too?

Read more: [Consequences of ignoring your loan obligation](https://irorun.com/blog/consequences-of-ignoring-your-loan-obligation)

## Money is not the only thing you can borrow

Leasing allows the owner of an asset to extend the right to use their property on loan. Essentially, instead of borrowing so much money to buy that asset, you can, in a sense, borrow the asset itself!

A lease is an agreement between the owner (of a house, land or any tangible asset) and you which allows you to use the said property for an agreed period in return for regular payments. E.g a rented apartment.

## You can own a home without paying upfront

Although it’s not so common in this part of the world, “Mortgage” refers to loans you can use in purchasing or maintaining a house, land or any other type of real estate.

Usually divided into a series of regular payments (15 to 25 years). Hehe! Your lenders want you to live a long healthy life.

Read more: [What to do if you can't repay your loan when due](https://irorun.com/blog/what-to-do-if-you-can%E2%80%99t-repay-your-loan-when-due)

## Guarantors are liable too

You most likely have that one person who’ll come through for you no matter how crazy the circumstances are. (Eish! Lucky you).

A guarantor guarantees to pay back your debt if you default. When you hear the word “guarantor” — think “fairy godmother or sponsor”. Don’t repay their kindness with evil and just leave them stranded. They are only there to help you out in tough times.

## Irorun gives zero-interest loans for loyal customers

Here at Irorun, we believe in the reward system and what better way to reward you than to lessen your financial worries (Pretty awesome right?).

You’re our loyal customer; when you stick to your repayment date, maintain professionalism with us, and recommend us to friends and family.

With our zero-interest loans, you pay back the exact amount given to you without any interest! (You see why loyalty pays!)

…

If you thoroughly enjoyed learning new facts about loans today, share with your friends. Don’t keep us all to yourself (*wink*)

10 interesting facts about loans

There are times when you need more than just a quick N10,000 to cover minor emergencies. Maybe you’ve got an unexpected car repair bill or need to cover school fees or medical expenses. This is where a N50,000 loan can make all the difference. But where can you reliably get that kind of money without the hassle of collateral or jumping through fire? Whether you’re a salary earner looking for a payday loan or simply need financial flexibility, quickly securing a 50,000 naira loan can be a life saver.

In Nigeria, where [over 40% of the population live on less than N377 per day according to the World Bank](https://datacatalogfiles.worldbank.org/ddh-published/0064942/DR0092448/Global_POVEQ_NGA.pdf?versionId=2024-04-16T15:19:00.4018291Z), financial security is a luxury many cannot afford. Most salary earners and small business owners are often one unplanned expense away from a financial crisis. The reality is that access to reliable, quick loans has become an essential tool for survival, especially for the more than [60 million Nigerians who are part of the working population](https://www.statista.com/topics/9043/employment-in-nigeria/).

Whether you’re facing rent payments, expensive vehicle repairs, or educational expenses, a quick loan can help you avoid financial strain while keeping your budget intact and lenders like Irorun can come through for you. 

## Where can you get a 50,000 naira loan?
There are a number of reliable platforms that offer quick loans, but not all are equally suited for those looking for larger amounts like 50,000 naira. Irorun, however is one of the best options for securing a loan of this size:

### Irorun
One of the many loans Irorun provides for borrowers are payday loans peculiar to salary earners, and N50,000 is right within our sweet spot. However, unlike our smaller loans, Irorun’s payday loan of N50,000 has specific requirements and [can only be applied for via the web app](https://app.irorun.com/), not the mobile app. This feature adds a layer of convenience and exclusivity, ensuring that customers have a secure platform to manage larger loans.

## Key requirements for a 50,000 naira loan
-Valid ID: You’ll need to present a government-issued ID to verify your identity.
-Statement of account: A recent statement of account is required to ensure you have a steady income and can afford repayments.
- Video attestation: This is one of the more unique requirements. You will need to record a short video to verify your identity and -confirm that you are applying for the loan of your own volition.
- Employment offer letter: Since Irorun’s 50,000 naira payday loans are targeted at salary earners, you’ll need to provide proof of employment, typically in the form of an employment offer letter or a letter confirming your current position.

## Why choose Irorun?
Tailored for salary earners: This loan is built specifically for those with a steady income, making the approval process smoother if you meet the criteria.
No collateral required: While the requirements are more thorough, Irorun does not demand collateral, making it an attractive option for those who don’t want to pledge assets.
Multiple channels: You can access loans via mobile and web app.
Flexible repayment terms: You can repay the loan within a few weeks, aligning with your next payday, so there’s no long-term financial burden.

## What if you don’t qualify for Irorun?
While Irorun’s payday loan is perfect for salary earners, not everyone will qualify due to the strict requirements. However, there are alternatives like [Urgent10k](https://apps.apple.com/id/app/urgent10k/id1585140872), [FairMoney](https://fairmoney.io/), and [Kredi Bank](https://thekredibank.com/) that cater to a broader range of people. If you’re self-employed or don’t meet Irorun’s requirements, these platforms offer fast approvals and flexible repayment options, ensuring you can still access the 50,000 naira you need.

## Focus on your big goals, we’ll handle the quick fixes
Remember, borrowing responsibly is about more than just getting through the next hurdle; it’s about creating the space to focus on long-term goals while managing short-term pressures. [Irorun can help you manage these short-term pressures](https://lendsqr.com/lenders/irorun).


Where to get an urgent 50,000 naira loan

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Irorun Blog

5 Questions to ask your lender

Where to get 5,000 naira urgent loan

10 interesting facts about loans

Where to get an urgent 50,000 naira loan

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