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.


“Do you know your rights?”

“Or do you just know you have rights?”

Yes! Read it again!

Both have very different meanings and more often than not, people only know they have rights but have no idea what these rights are.

In the world of MONEY, there are so many cunning individuals ready to take advantage of your lack of knowledge. (Sad but true).

And that’s why, Irorun wants to educate you so you never have to take rubbish again.

Here are seven rights that you must know as a borrower;

## Right to data privacy
We know you don’t read an app’s “Privacy policy” when you sign up.

But here’s something you should be reminded of; you have [a right to data privacy!](https://medium.com/@Theirorunapp/irorun-would-never-misuse-your-data-11f26da8ae4e)

You have control over how your data is accessed, collected, managed, shared and used and lenders handling your data in any contrary way is a violation of your right to data privacy. “What type of data is collected?” “Where will it be kept?” “How long will it be kept?” These are the questions that are associated with data privacy, and you as a borrower have every right to ask them.

Lenders are liable to pay a heavy fine for a breach of borrowers’ data privacy (That’s why Irorun is extraaa careful with your data). Don’t hesitate to report lenders for unethical practices.

## Right to be heard
Taking out a loan is not some forbidden thing! Never allow any lender to silence you! They’re not doing you a favor! It’s a business transaction with mutual benefits.

So, SPEAK! Sórósokè!

You have every right to be HEARD.

Lenders should never refuse to hear what you have to say, deflect your questions or wave you off and make you feel foolish for making inquiries. Run away from such lenders. The last thing you need when going over loan agreements is ambiguity. This shouldn’t only apply to right before taking out a loan. Even after you’ve taken out a loan, there are a lot of things that might happen during your repayment period, the lender should be able to address these issues as well.

Any lender who refuses to listen to what you have to say doesn’t care about your needs and will most likely make your loan experience tough.

Get yourself a lender who is willing to listen to you (like Irorun).

## Right to ethical treatment by the lender
In recent times, there has been a rise in cases of unethical treatment of borrowers by lenders, especially with cases of privacy compromise. Irorun wants you to know that they’re wrong! You should never be treated badly because you borrowed from a lender.

There is no acceptable reason; whether you are unable to pay back your loan or are asking for a term adjustment due to financial constraints, that a lender should treat you with violence, harassment and privacy violation. (Totally barbaric! Don’t take nonsense! But you sef pay back o!). A responsible lender will engage a defaulting borrower in accordance with the LAW. You have a right to be treated ethically and humanely by lenders.

If a lender is one who is fond of using harassment and the threat of violence and to try and force you to repay, [then you should report such unethical practices immediately](https://blog.lendsqr.com/how-to-report-lenders-for-unethical-practices/) and cut your losses. Desperation should not be a reason to remain with a bad lender. (Please avoid wahala na).

## Right to advance and sufficient notice
Just like a landlord can’t simply ask a tenant to move out without any advance notice, a lender cannot change the terms of a running loan without first giving them prior adequate notice.

As a borrower, you are entitled to advance and sufficient notice to prevent both you and the lender from getting into situations that puts you at odds.

Reminders for loan due dates or any change in terms should be communicated before penalties are implemented. Even notices should be given to inform you of what your penalty is and when it is due. Ignorance isn’t always bliss especially when it involves money!

## Right to request restructuring to your loan
Many factors can affect the status of your loan repayment and in these instances, you can request a restructuring or renegotiation of your loan to create a schedule for repayment that would benefit both you and the lender.

Such instances could be a job change or an unplanned emergency. (Life sure happens sometimes).

You can request to restructure your loan repayment if you fear you might not be able to meet up, to avoid default. This restructuring will involve either a loan holiday, rescheduled loan repayment or lowered interest rates. Approval typically depends on the lender’s terms.

## Right to the documentation and terms of loan offers
“Claims without evidence is null and void”

This is where documentation comes in. You should always make certain that you have records of all your loan activities with a lender. The documentation is your legal entitlement and should be provided by the lender.

Documentation that shows interest rates and fees associated with the loan, repayment period, penalty fees, proof of payment, and any other special condition should be given to you without hassle. (It’s your right sis!). Don’t let any lender try to scam you.

## Right to prepay your loan without penalties
Not all lenders have a prepayment penalty as it is something that is becoming less and less common.

As a borrower, you have a right to prepay your loan without penalty as long as it has been stipulated in the loan terms and agreed upon both by yourself and the lender. (Read the fine print!).

Most lenders tend to hide the prepayment clause in the fine print and if you are someone who tends not to read their terms completely then you might be setting yourself up for drags. (Again, read and re-read the fine print sisss! ).

…

Ensure you understand the terms of your contract, ask questions for clarification, make suggestions where necessary and avoid red flags of lenders that infringe on your rights!

Irorun wants you fully knowledgeable of your rights, so you can spot a bad lender with ease and FLEE!

For further assistance and questions, quickly shoot us an email at support@irorun.com.

Know your rights as a borrower


As you dey plan for money…na so money sef dey plan for you! 

Have you ever been in a position where you’ve saved up a particular amount more times than you can count?

You save. Obinna needs money to buy a lecturer’s handout. You spend.

You save again. Mama falls sick. You spend.

You save AGAIN! Water from the flooded streets of Lagos knocks your car engine. You spend.

Frustrating right?

When it comes to loans… you may be tempted to run away…

This is your reassurance that GOOD lenders ([like Irorun](https://irorun.com/)) understand that LIFE HAPPENS to everyone and even when you plan to repay on the due date, an unplanned emergency could pop up and you hit a roadblock. If this happens to you, there’s no need to panic or abscond (you’re not a thief are you?!).

Take a deep breath and follow the steps below to make informed decisions that’ll get you out of financial muddy waters in no time…

## Contact the lender immediately
The first instinct most people have when they realize they are unable to pay back their loan on time is to panic, dread and hide. While this might be a natural response, it does more harm than good.

They sit, fret and wait for the lender to call and ask why they haven’t paid their debt or inform them of the seizure of their collateral.

This is what most people go through, but you are not most people and can avoid this. It’s quite simple, when you get into a tight situation that’ll deprive you of meeting the repayment date, it’s now time to make that ‘bound-to-be-uncomfortable’ but ‘needed’ CALL to the lender.

Explain your situation to them with sufficient evidence, so they don’t think you are trying to skip on your payment. Informing them of your struggles on or after the due date makes you seem like a fraud, so contacting the lender and keeping them informed shows a level of trustworthiness they might not have known existed. (Don’t blame us! We are used to super-stories from borrowers too).

## Ask for a grace period
The next thing you should do when you can’t make loan payments on the due date is to ask for an extension AKA GRACE PERIOD.

Now that you’ve contacted the lender and explained your situation, you can ask for a grace period as a means to smooth out any problem affecting loan payment.

Depending on their terms, lenders may grant a grace period of 0 to 30 days after the due date.

During this extended period, you will be free to work through your financial difficulties, and here’s something really interesting — when you resume debt payment you won’t be asked to pay a late fee. (See why honesty is the best policy!). The grace period also gives you a chance to restructure your loan with the lender and agree on terms that are fit for you and the lender.

## Restructure your loan terms
Restructuring the terms of your loan can take the form of reduced interest rate, extended repayment period or reducing the remaining balance. (Plenty of options available for you!)

It will give you some relief and make it easier for you to repay your debt. It could be temporary or permanent. Temporary restructuring is such that your terms will be adjusted for the period you are facing problems while permanent restructuring is such that your loan terms are adjusted and the adjustments are kept even after your problems have been solved.

## Budget and save towards clearing up debt
Once your loan has been restructured…

The panic dies down and you relax back into your any-how money routine.

No! Don’t do that.

Now would be the time to swiftly get your finances in check and pay back your loan. And you do that by strict budgeting, that’ll allow you to save up enough to clear up your debts within your grace period.

Remember that for the duration of your grace period any debt paid off will not attract a late fee.

And while it may entice you to look for get-rich-quick investments, you should not succumb to the temptation, as a high-risk investment is another means to splurge your money and end up in the financial trenches. AGAIN! (Suffer nor dey tire you?).

## Pay your debt
Well, this speaks for itself. Doesn’t it?

Once you’ve followed the above steps; contacting the lender, asking for a grace period, restructuring your loan terms and budgeting to save up, you can now pay your debt with ease.

The lender will thank you for it and might even sneak your name into the responsible borrowers’ list. [Here’s a way to know how you can make that list](https://medium.com/@Theirorunapp/are-you-a-responsible-borrower-6564b24a9e6a).

A rule of thumb is to always clear up pending debts before your grace period elapses. It not only boosts your credibility but also your loan worthiness for the future. 

…

As always, Irorun will always get you out of sticky financial crises with our never-ending curated information just for your consumption!

We’re always happy and available to offer you expert advice and opinions…

Shoot us a message at support@irorun.com for more clarification on what to do when you fall short on repayment!

What to do if you can’t repay your loan when due

Sometimes life hands you a bill, and payday isn’t anywhere in sight. Maybe your car decides to break down right before an important trip, or a family member needs some immediate assistance. Whatever the reason, a quick 50,000 naira loan for a short period. The key is knowing where to find a reliable lender without the stress of lengthy paperwork.

Here’s everything you need to know about getting that 50,000 naira in a pinch and how to make the most of it without disrupting your budget.

## How to get a 50,000 naira loan from Irorun
When it comes to reliable lending options, Irorun is designed for flexibility and convenience. With a seamless online platform, Irorun offers fast, easy access to loans without the complexities associated with traditional banks. Here’s how Irorun makes the process simple and accessible:

- Application process: Irorun’s application can be completed in just a few minutes. You need only 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 personal information. Simply log in via the [mobile app](https://play.google.com/store/apps/details?id=com.irorun&hl=en&gl=BM) or [website](https://irorun.com/), select your loan amount (up to 50,000 naira), and fill out the required fields.
- Quick review and approval: Irorun’s approval process is fast, often within minutes of application submission. Once approved, the funds are sent to your account almost immediately.
- Transparent fees: Irorun offers a straightforward, a 10  - 15% interest rate . There are no hidden fees, so you know upfront what the repayment amount will be, which makes planning easier.
- Flexible repayment: With a 30-day repayment period, you can plan to repay on your next payday or schedule accordingly, making it easy to manage your cash flow without pressure.

## What makes Irorun stand out?
Many platforms offer small loans, but Irorun’s approach is designed for today’s busy and unpredictable lifestyle. Here’s what makes Irorun a trusted option:
- Fast funding: Irorun prides itself on quick processing. From application to disbursement, the entire process can be completed in minutes, which is perfect for emergencies.
- No collateral needed: With Irorun, there’s no need for collateral or guarantors. This no-hassle approach ensures that borrowers can access funds without stress.
- Easy access, anytime: Irorun’s platform operates 24/7, meaning you can apply for a loan whenever you need it, whether it’s day or night.
- Budget-friendly terms: With the option to choose a loan amount that fits your situation, Irorun helps you manage repayment without straining your budget.

## Tips for managing your 50,000 naira loan
While a short-term loan is helpful, managing it wisely is key to making sure it works for you. Here are a few strategies:
- Budget your repayment: Set aside part of your next paycheck or income to cover the loan’s repayment. Planning ahead can prevent last-minute struggles.
- Use the loan for necessities: Focus on essential expenses like medical bills, repairs, or business needs. This way, the loan works as a bridge to help you through a temporary challenge without accumulating unnecessary costs.
- Stay in contact with Irorun: If your financial situation changes, reach out to Irorun. [They have a helpful customer service team](support@irorun.com) ready to discuss repayment options if needed.

## Get a 50,000 naira loan in minutes with Irorun
Life doesn’t always give us time to prepare for financial surprises. A 50,000 naira loan from Irorun offers immediate relief with minimal fuss. No collateral, fast approval, and transparent costs mean you can handle urgent expenses with ease.
Whether it’s a health bill, an important payment, or just getting through a tough month, Irorun’s 30-day loan can provide the support you need without adding unnecessary stress. So, next time you’re in a pinch, remember that with Irorun, a quick solution is just a few taps away. [Apply for a 50,000 naira loan for 30 days now](https://lendsqr.com/lenders/irorun).



Where to get 50,000 naira loan for 30 days


Have you ever found yourself with money that you didn’t need anymore? I doubt it. We all need money.

How about a loan you didn’t need urgently anymore?

…

Now, Imagine a scenario like this:

A health emergency comes up and the bills are due soon. You decide that the best thing to do at that moment is to apply for a small loan, that’ll help clear up the hospital bills.

You find a responsible lender, apply for a loan and days later your loan is approved and sent to you…

But moments after, you receive a message from a family member telling you that they’ll pay the bill.

That’s great but now you’re stuck with a loan that you no longer need, what do you do?

In this case, there are only two things that can be done, and this article will show you.

You can decide to:

## Return the money
From the moment you sign the loan document, a binding contract exists between you and the lender. And every contract has terms attached to them including terms of dissolution.

This means that to return the loan amount without repercussions, you must read the fine print of the loan terms and ensure your lender is good with the new situation. Don’t transfer the money to your lender without proper documentation and agreement on both sides!

Your lender has most likely gone through a lot of effort to get your loan to you and as such, they want to be paid for their time, this is where the origination fee comes in. It’s taken from your total loan amount (i.e. if you borrow #20,000 and the origination fee is #2,500, you will be given #17,500, but you’re to pay the full loan amount of #20,000). Again, read the loan terms and make informed decisions.

There’s also a possibility of a prepayment penalty (if specified in your loan terms) which usually takes the form of a percentage of the loan balance or the interest rate that will be missed out by the lender. (This prepayment fee varies from lender to lender). [Read more on other loan fees including prepayment fees.](https://creditnigeria.com/types-of-loan-fees)

## Spend the money
Knowing that you may have to put in additional money on your loan if you prepay(i.e pay before your repayment date) might convince you to spend the money on something else. This isn’t a bad idea as long as you’re willing to meet up with your repayment date.

If you have taken out an unsecured loan, your lender is not concerned about the end goal of the loan amount, so you have free rein over how you choose to spend the loan. They’re only concerned when you fail to meet up with your repayment date. In cases where one fails to pay back their lender and tries to outsmart them, they’ll be reported to the credit bureau and their credit score will take a hit. [Here are some of the consequences of loan default.](https://medium.com/@Theirorunapp/consequences-of-ignoring-your-loan-obligation-e2ffb939c601)

With a secured loan, your valuables that were placed as collateral will be at stake if you default on your loan. Any attempt to skip out on a loan puts you and your guarantor (if for any reason you needed one to qualify for the loan) in trouble which will affect both your credit history negatively.

…

As always we want you well-informed before any key financial decision is made. Remember, whatever you decide has to be in line with the loan terms you had with your lender.

If you have any questions please send us a message at support@irorun.com!

What happens when you take out a loan but don’t use it?

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 with only NIN, BVN and no collaterals. Get disbursed in minutes.

Get ₦30,000 for 5 Months Instantly for Your Urgent Needs

Irorun Blog

Know your rights as a borrower

What to do if you can’t repay your loan when due

Where to get 50,000 naira loan for 30 days

What happens when you take out a loan but don’t use it?

Download now