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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.

Frustrating right?

Trying to reach out to a brand and not getting a response for days has to count as one of the most frustrating moments!

It gets even worse when it involves an issue that requires urgent attention.

At Irorun, we understand how frustrating and disappointing it could be especially when it involves money and that’s why we constantly find ways that allow you to communicate with us with ease via various mediums.

Everyone has a preferred contact method, and sometimes different problems have different ways they can be addressed. Here are 3 ways you can make inquiries/solve your problems with Irorun:

Read more: [How to spot a destructive small loan](https://irorun.com/blog/how-to-spot-a-destructive-small-loan)

## Contact us via email or phone number
At Irorun, we make it our priority to be available to assist all of our users, including prospective clients. This is why you can always, and at any time, send an email to Irorun if you have any inquiries or concerns that need to be addressed. In a matter of minutes or a few hours, you can get a reply to your inquiries and concerns.

If you feel like an email is not your style(and also doubt that your reply was written by a human), you can also contact us through our helpline made readily available for you on our website. We have representatives available to listen and help you solve your problems.

Read more: [What is a credit report and what can be found on it](https://irorun.com/blog/what-is-a-credit-report-and-what-can-be-found-on-it)

## Chat with an Irorun representative using our live chat feature
The world is miles ahead of Nigeria as regards technology. But Irorun quickly adapts and that’s why the live chat feature has been made available for you. It connects you with one of our representatives right there on the website or even on the app. This way you don’t have to worry about your contact details being in the wrong hands.

With our live chat feature, a representative will be there to guide you through any issue you’re struggling with, by giving you suggestions and directions on what approach can quickly solve your specific issue. All on the website.

Read more: [6 loan myths that have been debunked](https://irorun.com/blog/6-loan-myths-that-have-been-debunked)

## Go through our frequently asked questions (FAQs)
There may be inquiries that you need to make that others have made before you. When situations like this happen, Irorun takes a count of how many people have asked that particular question (phrased in different ways) and provides an answer for it which will then be made available on the website. These questions and answers are called FAQs — Frequently Asked Questions.

Most times, when you make inquiries through the live chat feature, you’ll be directed to the FAQs if it’s a question that has been answered. Irorun has a wide selection of FAQs that you can go through to find an answer to your inquiries and a solution for any problem you may be stuck on. Here’s a look at Irorun FAQs.

Read more: [How to compare different digital lenders](https://irorun.com/blog/how-to-compare-different-digital-lenders-and-choose-the-best-one-for-you)

…

Reach out to us with your inquiries at [support@irorun.com](mailto:support@irorun.com) and we’ll be sure to give you more tips.

3 ways you can make inquiries/solve your problems with Irorun


We always tell you what to look out for in bad online lenders and how to avoid them.

Today we also want to show you how to spot a responsible online lender.

Here are 5 things to look out for:

## Confirm their company registration status with CAC
The [Corporate Affairs Commission](https://www.cac.gov.ng/) is a government body that deals with the registry of companies, business names and incorporated trustees as a means to validate their existence and right to do business.

Any responsible online lender would have registered with the CAC and as such will have a registration number (CRN or RC). This registration number can be used to search for the authenticity of their business or company on the database.

To spot a responsible online lender, you must first check their website for an RC to be cross checked on the [CAC database](https://search.cac.gov.ng/home). If the app is a brand name, you must see if it can be connected to the actual company behind it and as such find out if it’s simply a knockoff or the real deal.

Note: Because a business website has an RC doesn’t mean it’s authentic, that is why you have to confirm with the CAC. You’re welcome!

## Check for their app on Google play store and App store
You have probably noticed that whenever you search for an app on the play store, they show the company that owns the app directly beneath the name of said app.

You should make sure to confirm that the company name displayed on the play store matches the one displayed in the company registry.

Most times, the Play store will show you that they have already done their research on the app and you’ll see that that app has been verified.

Still, if after you complete a check and see that the company name on the play store does not match the name in the registry, it might be someone putting up a copycat app or an attempt to scam others. Run o!

## Confirm their license
Is your prospective lender licensed by the CBN, a state body or in partnership with another Lender? Does their licensing look fake/sketchy?

If you have any reason to suspect that the license you have viewed is fake, you can always confirm with their RC.

Some websites you visit will have something close to a confirmation on where they’ll tell you where they are licensed, mostly seen at the bottom of their web page along with a helpline, email and physical address(authorized lending apps must have an address on their website even if they only operate online). This shows authenticity, so you should be on the lookout for these things whenever you go through a business website.

## Look for reviews from others
When you get on the Google Play store and check out a particular app, it’s best practice to check the reviews of others who’ve gone before you.

The reviews don’t just help you see what is wrong with an app but also what is right with it, and if it’s right for you. Actively seek out others who have experience with the app and ask (or read about) their opinions. Read reviews not just on the play store but online as well.

Carry out an active search to look for reviews on your prospective lending app, once you’ve done this you can compare and contrast to see if that lender is a good match for you. When it comes to money, you can never be too careful.

## Be wary of lead gatherers with no real loans
Sadly, there are loan apps that exist solely to gather leads/ data of unsuspecting individuals to sell them to the highest bidder. This is why it’s important to look out for reviews and carry out checks on your prospective loan app.

Ask family, friends or even foes about the apps (what they’ve heard, thought or experienced with the app in question) before proceeding with any transaction.

It also wouldn’t hurt to carry out your investigation before you transact with us. [Start here!](https://irorun.com/)

**Bonus tips**
- Check website ownership
- Study the app’s responsiveness and interface
- Check for recent and previous social media presence.
…

As always, Irorun arms you with the right knowledge to help you experience seamless transactions with ethical and authorized lenders.

For further questions and assistance send us a message at support@irorun.com!

How to spot a responsible online lender

Loan request declined? We’ve got good news for you! 

There’s still a chance to get that loan approved. As always, Irorun is here with actionable and helpful tips for you.

Check out 5 actions to take if your loan gets declined 

## Review the decline notice
The first thought that tends to come to mind for several people when they get declined for a loan is “Why?”. You start to question the lender’s judgement because as far as you’re concerned, everything was in order at your end, but instead of making assumptions or giving up completely, you can review your decline notice to learn and understand the reason for it. Doing this already puts you one step ahead in solving the problem. PS: Secrets are always hidden in the fine print. So read the fine prints!

Read more: [5 facts Irorun first-time users should know
](https://irorun.com/blog/5-facts-Irorun-first-time-users-should-know)

## Ask for more details if you can
When you get rejected for a loan and receive a decline notice, even after reading the notice, you should make an effort to ask the lender for more details about your loan rejection. Most times, it isn’t all details that have been placed on the notice and you can gain a lot more understanding by asking the lender to clarify what was written on the notice or simply asking for more information. If your lender doesn’t mind or if it’s not against their policy, they could be willing to share what went wrong in your application that warranted a decline.

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)

## Review your credit report
How often do you review your bank statements, credit reports and financial documents? 

Most people hardly check through these reports, because it’s believed that everything is as it should be, but the truth is, it’s not always so. Your finances, just like any other aspect of your life deserves regular checks and review.

When you get declined for a loan, you should take the time to check for inaccuracies in your credit report as these might’ve been what the lender saw that made them decline your loan application.

Your credit report holds most of the power in your approval for a loan, so you should take the time to make sure that it’s as accurate as it can be as even a tiny error can lead to a loan rejection.

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

## Pay off other pending debts
A genuine lender checks your past credit history with the credit bureau to ensure there are no defaults, disputes and uncertainties.

If the lender reviews your past credit history and finds one or more unpaid debts, best believe your loan request will be declined. The fact that you are still indebted to other lenders may make them believe that you don’t have the capacity or even worse, the willingness, to pay off any loan that they may lend you. Remember, a lender who’s unafraid to lose their money is a red flag.

Your best bet is to pay off all other pending debts you may have before trying to take out another loan.

Read more: [A simple guide to the Irorun loan application process
](https://irorun.com/blog/a-simple-guide-to-the-irorun-loan-application-process)

## Apply for a smaller loan amount
When you get declined for a loan, it’s advisable you apply again but for a smaller amount than what you previously applied for. There’s a possibility that the lender has noticed an unclear detail in your documentation that affected their belief in your capacity to repay the loan amount you requested.

You can try for a smaller loan amount, an amount that can be paid back with ease and speed. This increases your chances of getting approved and not declined.

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

…

We hope you’d try out these tips and let us know how it works out for you. For more clarification and assistance in applying for a loan, send us a message at [support@irorun.com](mailto:support@irorun.com)!

5 actions to take if your loan was declined

Back when banks used to be the only way to get a loan in Nigeria, getting one felt like applying for a visa: plenty of paperwork, long queues, and a waiting game you couldn’t afford to play. But over the past few years, apps like FairMoney, Carbon, and Irorun have turned lending on its head. Today, with just a smartphone, you can get a loan in minutes.

But not all loan apps are created equal. Some are genuinely helpful, licensed, and transparent. Others? They’ll spam your entire contact list, call your boss, and still charge you sky-high interest.

In this article, we’re putting three of the most talked-about apps: FairMoney, Carbon, and the rising underdog, Irorun, side by side. If you’re wondering which one to use in 2025, let’s break it down by features, reliability, repayment policies, user experience, and more.

## FairMoney
FairMoney started as a mobile lending app but has grown into a licensed microfinance bank (FairMoney MFB), regulated by the Central Bank of Nigeria (CBN). The app is available only on Android and has crossed over 10 million downloads on the Google Play Store. It offers personal loans, SME loans, savings accounts, bill payments, and virtual cards.

### Key features
- Loan amounts: ₦1,500 to ₦3,000,000 (up to ₦5 million for business customers)
- Interest rates: Monthly interest from 2.5% to 30%, depending on credit profile and repayment history
- Loan tenure: 1 to 12 months
- Savings interest: Up to 30% annual interest for fixed plans
- Disbursement: Instant transfer to your bank account once approved
- Requirements: Android phone, BVN, valid ID, linked ATM card

### Pros
- One of the few loan apps that doubles as a licensed bank
- Easy in-app savings options with high interest returns
- Transparent pricing with clear repayment terms
- Loans get larger and cheaper over time with good repayment behavior
- Offers cards and utility bill payment services

### Cons
- No iOS app; iPhone users are left out entirely
- Some users complain about being forced to link their ATM cards even before getting approved
- Lower-tier users often get short loan tenures (as little as 7 days)
- Limited offline customer support channels

FairMoney works best for Android users looking for an end-to-end financial app: loans, savings, bills, and virtual banking, all in one place.

## Carbon
Carbon (formerly Paylater) was one of the first players to pioneer app-based lending in Nigeria. Over the years, it has evolved into a full-fledged digital bank, offering everything from loans to savings, investment, bill payments, debit cards, and free transfers. Carbon operates on both Android and iOS, giving it a wider reach than FairMoney.

### Key features
- Loan amounts: ₦2,500 to ₦1,000,000
- Interest rates: From 4.5% to 30% per month, depending on your risk profile
- Loan tenure: 1 to 12 months
- Savings & investment: Offers Carbon Save and Carbon Grow for users to earn up to 15.5% per annum
- Cards: Virtual and physical debit cards with 1% cashback on POS transactions
- Disbursement: Instant to your bank account
- Requirements: Smartphone, BVN, valid ID, ATM card (for first-time users)

### Pros
- Available on both Android and iOS
- Transparent pricing and improved credit scoring over time
- Cashback incentives on card spend (POS only)
- Offers more than just loans: digital banking, savings, investment, cards
- Simple user interface with a transaction history log for better financial tracking

### Cons
- Interest rates can be high for new or low-score users (APR can go as high as 195%)
- Some users report delays in receiving debit cards
- Customer support is largely app-based and response times can be slow
- Requires linking ATM cards and validating bank account

Carbon is ideal for users who want more than a loan, those looking for an everyday digital financial solution. If you use your card often, the cashback bonus adds extra value.

## Irorun
Unlike FairMoney and Carbon, Irorun focuses on keeping lending ethical and user-friendly. The name "Irorun" means "ease" or "peace of mind" in Yoruba, and that’s exactly what they aim to provide. Irorun is fully licensed, does not shame users over late repayments, and keeps its terms simple. It doesn’t have savings features, cards, or bill payments for now. Instead, it focuses purely on lending, with a philosophy of respect and trust.

### Key features
- Loan amounts: ₦5,000 to ₦50,000
- Interest rates: Monthly rates start at 5%
- Repayment terms: Flexible, based on borrower history
- Disbursement: Funds go to Irorun Wallet, and then can be withdrawn to any bank
- Repayment: Through app or via wallet deduction
- Requirements: Phone number, BVN, ID. No excessive data permissions required.

### Pros
- No harassment or contact shaming even on defaults
- Friendly, minimalist interface designed for first-time borrowers
- Repayment flexibility: borrowers can choose to forgo overdue penalties after covering their principal and agreed interest
- Perfect for users new to credit or recovering from bad experiences with predatory apps

### Cons
- Loan amounts are small, not suitable for high-value needs
- No iOS app as of now
- Doesn’t yet offer additional financial services like savings or cards
- Still growing; less visibility compared to FairMoney or Carbon

Irorun is best for people looking for a safe, respectful, and non-aggressive way to borrow, especially if you’re testing out digital credit for the first time.

## Which loan app should you choose in 2025?
It all boils down to your needs and values. Use FairMoney if you’re focused on getting larger loans and want a full-featured digital banking app with high-interest savings. But only if you’re on Android. Go with Carbon if you want cross-platform access, banking tools, and rewards like cashback. Just be ready to handle higher interest rates if you’re new. Try Irorun if you care more about ethical treatment, small but fast loans, and not having your phone contacts used against you. It’s ideal for those who’ve had negative experiences with other loan apps. No matter which you choose, remember: Loan apps are tools, not permanent solutions. Borrow responsibly. Understand the terms, repay on time, and avoid borrowing for consumption.





FairMoney vs Carbon: which loan app is better in 2025 and how does Irorun compare?

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Irorun Blog

3 ways you can make inquiries/solve your problems with Irorun

How to spot a responsible online lender

5 actions to take if your loan was declined

FairMoney vs Carbon: which loan app is better in 2025 and how does Irorun compare?

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