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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.

Tola’s heart sank as she opened her phone and saw a message from her landlord. The rent was due in just two days, and she still needed 20,000 Naira. As a fashion designer struggling to get her business off the ground, she had already stretched her budget thin this month, pouring every last naira into fabric and supplies for an upcoming market.

The thought of losing her home loomed large, threatening to snuff out her dreams. With no collateral to secure a loan and no family she could turn to, she felt trapped. But then a friend mentioned Irorun, a platform offering quick loans without the usual fuss.

With a mix of hope and skepticism, Tola decided to give it a shot. It was a gamble, but sometimes, you have to take a leap when the stakes are high. If you’re in a similar bind, needing urgent cash without collateral, [Irorun](https://irorun.com/) might just be the help you’re looking for.

## Why small, no-collateral loans like Irorun’s are in high demand
The need for accessible, short-term loans is higher than ever in Nigeria. Here’s why:
- Rising living costs: With food prices up by nearly 38% in the past month, covering even basic expenses can be challenging for many Nigerians​.
- Limited financial inclusion: Only about 45% of Nigerian adults have access to traditional banking services, making digital lending an essential option for people who don’t qualify for standard loans.
- Emergency preparedness: Over 80% of Nigerians pay for healthcare out of pocket, meaning that unexpected medical expenses often require immediate cash, which can be hard to come by without flexible lending options around. With Irorun’s fast and secure process, more people have access to these essential loans when they need them most.

## Irorun’s 4-step process
Here’s how Irorun makes it simple to get 20,000 naira in minutes:
Step 1: [Download and register on the Irorun app](https://play.google.com/store/apps/details?id=com.irorun&hl=en&gl=BM): Download Irorun’s app from the Google Play Store. You’ll start by registering and setting up a basic profile.
Step 2: [Fill in your details](https://irorun.com/blog/a-simple-guide-to-the-irorun-loan-application-process): The application is straightforward. Enter your BVN, a valid ID, and a few personal details. There’s no paperwork or need to pledge any assets as collateral, making it accessible to more people.
Step 3: [Choose your loan amount and review terms](https://irorun.com/blog/what-is-found-in-a-typical-loan-terms-and-conditions): For this scenario, select 20,000 naira as your loan amount. Irorun charges a flat 10% interest, so you’ll know right away that your repayment will be 22,000 naira after 7 to 30 days, depending on your repayment choice.
Step 4: [Approval and disbursement in minutes](https://irorun.com/blog/do-you-want-your-loan-approved-try-these-5-hacks): Once you submit, Irorun processes applications almost instantly. Approved funds are sent directly to your bank account, typically within minutes, which is ideal for real-time needs.

## Criteria for obtaining a 20,000 naira loan with Irorun
If you're looking to apply for a N20,000 loan from Irorun, you'll need to meet the following essential criteria:
- Valid identification: You must present a government-issued ID, such as a National ID, driver's license, or voter’s card, to verify your identity.
- Bank statement: A recent bank statement is required to showcase your income and ability to repay the loan, helping Irorun confirm that you have a steady salary.
- Employment verification: Since Irorun caters specifically to salary earners, you'll need to submit proof of employment, such as an offer letter or a document verifying your current job status.
- BVN (Bank Verification Number): Your BVN is needed for identity verification and to ensure the security of your loan application.
- Video attestation: You'll need to record a brief video confirming your identity and that you are applying for the loan yourself, adding an additional layer of security.

## Apply for a loan now
Help is just a few clicks away. Whether it’s for 20,000 naira or more, [Irorun is here to support you](https://lendsqr.com/lenders/irorun) with hassle-free access to quick loans, keeping you focused on what really matters.







Where to get urgent 20,000 naira without collateral


Unlicensed lenders AKA loan sharks mostly prey on families of low income or those who find themselves in difficult times and in dire need of a quick fix. *Urgent 2k*.

Here are a few ways to recognize them. As they operate outside the law, you’ll likely:

**Be offered a cash loan:** Most loan sharks tend to operate with cash, but do take note that some may operate online as well.

**Notice a lack of paperwork:** Loan sharks won’t give you a formal agreement which makes it easy for them to change loan terms in their favor at the drop of a hat.

**Get poor/vague loan terms:** Loan sharks tend to be unclear about the amount of interest they charge and repayment terms. Sometimes, they might straight up give you outrageous terms to work with. (But since you’re in urgent need… you feel as though you have no other option).

Get a loan without the necessary checks: Loan sharks won’t conduct any checks or assessments before giving out a loan. (It’s giving sketchy abi?).

**Face harassment and threats if you are behind on repayment:** Unauthorized lenders are not afraid to resort to threats of violence and harassment if you are behind on your loan repayment.

**Be pressured into borrowing more:** The moment a loan shark gets you to borrow from them, they’ll charge you such high-interest rates that you’ll never be able to repay in full. They may even convince you to borrow more from them in the illusion of paying off your previous debt with the new one.

The purpose of this article is not just to help you recognize these loan sharks but to give you a way to sort out any issues that you as a borrower may face when confronted with a loan shark you borrowed from.

## Formal report to the authorities
When you are being harassed and threatened by a loan shark, a formal report can be made to the authorities with proof that your life is being threatened. And that can be acted on.

It’s very important to note that just because a loan shark can’t take legal action against you for not repaying your loan because they’re unlicensed, doesn’t mean that they won’t take drastic measures illegally. Remember, these individuals operate outside of the law. It would do you good to not purposefully antagonize a loan shark.

**PS:** Licensed lenders have the right to take legal action against you if you default on loan repayment, as it’s still a civil offense.

…

At Irorun, we understand that it can be tough to find an ethical lender that respects [your rights as a borrower](https://medium.com/@Theirorunapp/know-your-rights-as-a-borrower-a7bdbfda3f8), that’s why we constantly bring you actionable tips on how to get the best borrowing experience.

Feel free to send us a message at support@irorun.com to get started with your loan!

How to deal with loan sharks

Jingle coins…Jingle coins…Jingle all the way (to the bank) 

As the holidays are fast approaching, we’ve curated 5 money mistakes you should avoid this season

Dive in!

## Impulse buying
There are a lot of people who believe that holidays are a perfect time to spend money on miscellaneous items due to rapid inflation in prices, the thought process is usually “I don’t know how much it would be after the holiday so let me just buy it now.” Irorun is here to tell you to relax.

When the urge to buy every random item crosses your mind, fight it! You’re not missing out on anything.

Satisfying every “buy me” impulse may leave you broke before the holidays are even over. Be a little intentional about curbing those impulsive habits, to avoid regret and unchecked expenses.

## Having no holiday budget
A sure way to curb impulse buying during the holiday season is to set a realistic holiday budget that covers all your major expenses for the season. This holiday budget will help you put a check on your spending limit.

Having a holiday budget will give you that sense of responsibility that you didn’t even know you needed and that’s why you need one (because life doesn’t end at the holidays). Having no budget affects your thought process, it becomes a free-for-all, and you just might end up struggling to keep up after the holidays are over.

## Not saving for January 35th
We can’t be the only ones to have noticed that the days after the holidays seem to stretch on forever and seem to have a lot of expenses piled up (It’s like the universe has decided to punish you for having too much fun). You seem to realize that in your bid to enjoy the holidays to the fullest you are left with nothing and are now struggling. God forbid! Abi? That’s where budgeting comes in. Remember, when making a budget, you are always advised to set aside some savings. January has 35 days o!

One piece of advice we’d love to give you regarding saving is this — Don’t just save for the rainy days with cloudy skies, save for sunshiny days with clear skies too.

## Don’t get lost in the holiday spirit
Many holiday decisions are made under the influence of the “holiday spirit”. It’s easy to get lost in the bubble and fritz of the holiday and that’s why some people only decide to travel and visit family during this period. For someone who is trying to survive till after the holidays, this would mean extra expenses for you. Village people would want more than greetings o!

Unless you have enough to spare for a holiday trip, you shouldn’t be taking one on a whim. Even when others travel for holiday adventures in other parts of the world doesn’t mean that you should.

Imagine getting stranded in another state or country because in the ‘spirit of the holiday’ you wanted to visit some random family member or go on an adventure without making plans for it. Ha! don’t do it!

## Hosting the Joneses
Say it out loud “I’m not at home!”

We know that sometimes it’s hard to outrightly say ‘no’ when asked for a favour from family or friends. But sometimes learning how to say “no” saves you from unplanned and burdensome expenses.

Take, for instance, a family member or friend suggests “spending the holiday with you”. Although it seems like a nice holiday gesture, it would be best to decline if your finances cannot accommodate so much at that point. Taking on extra expenses in a bid to “save face” may cost you more than you expect.

…

It’s the festive season soon and as always, we want you to make great financial choices and plans in preparation for the new year.

Irorun is still in the business of providing the best loan options. Send us a message at support@irorun.com to find out more.

5 money mistakes to avoid this holiday

It’s never a great experience to get ripped off your hard-earned money 

In this article, we’ll discuss 7 ways you can spot a loan scam

Check them out 

## The lender assures a high chance of approval
One of the many ways to spot a loan scam is through the “Guaranteed approval” claim. The lender would try to assure you that you have a high chance of being approved for a loan. You might even be honest with them and say you don’t meet all the requirements but they’d tell you that you would be approved. It’s giving sketchy!

Fraudulent lenders aren’t interested in your creditworthiness. They tend to seek borrowers who are more likely to fall behind on loan payments which would lead to them having to pay high late payment fees and penalties. These types of lenders tend to make claims like “Everyone is approved!”. Your best bet is to steer clear of them.

## The lender doesn’t have any evidence of license to lend
Lending is a regulated business and as such lenders are required to be licensed to give loans. Our friends at Lendsqr have done an amazing job of explaining the different licenses a lender could hold before they give out loans.

Loan scammers usually don’t have licenses so you can easily spot one when you check the lender’s website to verify the list of states where it can legally conduct business.

## The lender demands upfront payment
Some scammers have been known to demand debit cards or sensitive banking information from borrowers. They claim they need the information for insurance, collateral or fees. Legitimate lenders may charge a fee for your application, but those charges are deducted from your loan. Any lender who demands an upfront payment in exchange for loan approval is most likely up to no good. Remember, an upfront payment (illegal) differs from a processing fee (legal).

## The lender pressures you to act immediately
When a prospective lender gives you an ultimatum or a deadline to apply for a loan with them, with a warning of “offer expires soon”. There’s a possibility such a lender is either hiding something or It may be a ploy to get you to make a rash decision without having time to do your research to uncover the scam they’re running. Shine your eyes o!

## The website is not secure
There are scammers out there with active and running websites in hopes of seeming legitimate, and they use these unsecured websites to steal sensitive information by using a malware bug. It works just like any other loan website and sometimes can be tricky to uncover unsecured websites, but here’s a helpful clue - Unsecured websites usually begin with “HTTP” instead of “HTTPS”.

## The lender is not transparent about extra fees
Most predatory lenders will avoid posting their fees on their websites or disclosing them when asked. They may also tell you that you’ve been approved for a loan and then demand a fee from you upfront. While some reputable lenders do not list their fees on their websites, fees should be disclosed during the application process and before you sign anything.

Hidden fees that are imposed after loan approval are a huge red flag!

## Too good to be true syndrome
The reality of this situation is that if a loan offer sounds too good to be true, it probably is. Legitimate lenders won’t just call you out of the blue with an irresistible loan offer. You likely won’t qualify for a loan with an unbelievably low rate or a bad credit history. As always, remember that a lender who’s unafraid to lose their money is definitely one to steer clear off!

…

Now that you know how to spot and avoid loan scams, it’s a good time to send us a message at support@irorun.com and let’s get you started on taking your first loan!

7 ways to spot a loan scam

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Irorun Blog

Where to get urgent 20,000 naira without collateral

How to deal with loan sharks

5 money mistakes to avoid this holiday

7 ways to spot a loan scam

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