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 the best loan app to provide that instant relief.

We value our customers and want to continue to help you meet your needs. As you continue to repay your loans from Irorun, you will have access to higher loans up to N50,000 with the lowest interest rates in the market. We also offer gifts on your birthday and for referring other users to sign up and get a loan.

We recognize our most loyal customers by offering them exclusive benefits, including 0% interest on urgent loans for a short period.

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.

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


“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

Life is full of surprises, and not all of them are pleasant. There are times when an unexpected expense can turn a well-planned budget upside down, and when that happens, you may find yourself needing a quick 20,000 Naira loan. Whether it's covering a medical emergency, a minor home repair, or simply bridging the gap until payday, having access to quick funds can make all the difference.

But where can you secure a 20,000 Naira loan without the hassle of collateral or lengthy approval processes? One standout option is Irorun, a trusted platform offering personalized solutions for salary earners and individuals in need of quick financial relief.

## The growing demand for quick loans in Nigeria
[According to data from the National Bureau of Statistics (NBS), about 33% of Nigerians are either unemployed or underemployed](https://nigerianstat.gov.ng/elibrary/read/1241455), making financial stability a challenge for many households. Moreover, [the World Bank reports that over 40% of Nigerians live below the poverty line, earning less than N377 per day](https://databankfiles.worldbank.org/public/ddpext_download/poverty/987B9C90-CB9F-4D93-AE8C-750588BF00QA/current/Global_POVEQ_NGA.pdf). These economic realities make even small financial emergencies potentially devastating, especially for those without access to savings or formal credit systems.

Quick loans have become a vital financial tool for millions of Nigerians, helping to manage short-term expenses without sinking into debt. For salary earners, a N20,000 loan can be the difference between meeting an urgent need and falling into financial distress.

## Where to get a 20,000 naira loan
**Irorun, the best choice for quick loans**: When it comes to securing a quick N20,000 loan, Irorun stands out as a reliable and efficient option for salary earners. Irorun specializes in payday loans, providing flexible solutions that allow you to meet urgent financial needs without the burden of collateral. Unlike many other lenders that focus on smaller or larger amounts, one of Irorun’s sweet spots is the N20,000 loan, which is easily accessible via our web or mobile app.

## Why choose Irorun for your 20,000 naira loan?
**Tailored for salary earners**: Irorun specifically targets individuals with a steady income, making the loan approval process faster and more straightforward. If you’re a salary earner, you’re likely to meet our criteria and secure a N20,000 loan without hassle. 

**No collateral required**: Unlike traditional lenders, Irorun does not require you to pledge any assets. This makes it an attractive option for those who need quick cash but don’t have valuable items to offer as security.  

**Quick processing**: The entire loan application process is digital, which means you can apply and get approval within minutes, provided you meet the basic requirements. Irorun’s system ensures that your loan is disbursed directly to your bank account as soon as possible.

**Flexible repayment plans**: You can repay the loan in a way that fits your financial schedule, often aligning the repayment with your next payday. This prevents long-term debt while ensuring that you can handle short-term financial needs.

## Key requirements for a 20,000 naira loan with Irorun
To apply for a N20,000 loan from Irorun, there are a few key requirements you’ll need to meet:

**Valid ID**: You must provide 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 will be required to demonstrate your income and ability to repay the loan. This helps Irorun confirm that you are a salary earner.

**Employment offer letter**: Since Irorun’s loans are designed for salary earners, you’ll need to provide proof of employment, such as an offer letter or a letter confirming your current employment status.

**BVN (Bank Verification Number)**: Your BVN is necessary for identity verification and ensuring that your loan application is secure.

**Video attestation**: One unique feature of Irorun’s loan process is the requirement for a video attestation. You’ll need to record a short video confirming your identity and that you are applying for the loan yourself. This adds an extra layer of security to the process.

## How to apply for a 20,000 naira loan from Irorun
Applying for a loan from Irorun is simple and can be done from the comfort of your home or office. Follow these steps:

**Sign up on Irorun**: Visit the [Irorun website](https://irorun.com/) or [download our mobile app](https://play.google.com/store/apps/details?id=com.irorun&hl=en&gl=BM) to create an account. Make sure you provide accurate details, as this will make the application process smoother.

**Submit required documents**: Upload the necessary documents, such as your valid ID, bank statement, and proof of employment. You’ll also need to provide your BVN for verification purposes.

**Record your video attestation**: Follow the platform’s instructions to record a short video confirming your loan application.

**Wait for approval**: Irorun’s system is designed to process applications quickly. If you meet all the requirements, you could receive your loan approval within minutes.

**Receive your loan**: Once approved, the N20,000 will be disbursed directly into your bank account. The entire process can take as little as an hour, making Irorun one of the fastest options for urgent loans.

## Responsible borrowing
While quick loans can provide essential financial support, it’s important to borrow responsibly. Make sure that you have a clear plan to repay the loan on time. Defaulting on loans can harm your credit score and limit your ability to borrow in the future.
Remember, loans should be used to cover immediate and necessary expenses, such as medical bills, repairs, or other emergencies. Avoid using loans for non-essential purchases, as this could lead to financial strain. [Borrow responsibly from Irorun today](https://lendsqr.com/lenders/irorun).



Where to get 20,000 naira loan in Nigeria

Most lenders take pride in how ‘fair’ they are in their dealings, putting the needs of their clients first and offering them the ‘best’ loan experience.

They often forget that what happens after the loan has been completely paid off also adds to the loan experience.

The final payment of a borrower is like the close of a sales deal. Each person goes away happy (or at least mildly satisfied) with what they got. So why then do some lenders continue to call and send messages to customers, who are no longer interested in their services, about incomplete payments or ‘exclusive’ loan offers.

Well, we can’t exactly tell you their reasons when we don’t know why ourselves. But, what we can do is provide you with tips on how to get these red flag-ridden lenders off your back!

Tip 1 (just kidding but not really): never collect loans from sketchy lenders, there are more reputable lenders like Irorun ready to provide for you.

Now onto the tips proper!

## Review your loan agreement
Let’s be honest with ourselves for a minute, no one reads the terms and conditions except when they really have to. Therefore, this situation is a great time to put on your reading glasses.

There might be a clause in your loan agreement about post-payment communication, specifying when the lender can contact you after you’ve paid off your loan. This clause will also clarify your rights as related to the loan you have borrowed.

## Contact the lender, professionally
You can professionally reach out to your lender. We’re not asking you to start a fight, but politely inquire about the reason for the continuous contact. It could be a payment processing issue or an administrative error.

As mentioned in the previous tip, a clause in your loan terms can state situations where your lender can contact you. An administrative or payment error definitely counts. Again read the fine print.

## Document all communications
To handle these persistent lenders, you have to bring out the tactics that would save you in an escalated situation. Record every interaction with your lender; call logs, emails, SMS etcetera.

These situations rarely escalate and in the slim chance that they do, it’s beneficial to have evidence of the lender’s actions and all your interactions with them.

## File a complaint with the regulators
At this point, we’ve all heard of the credit bureau, the one place no borrower wants to be marked down as a defaulter but It may please you to know that lenders have regulators as well. See how to report unethical lenders.

The regulators are there to ensure that lenders behave within the ambits of the laws. So whenever a lender starts acting suspiciously and you have concrete evidence, report them to their regulator. Don’t say we haven’t done anything for you. 

## Check credit report
Your credit report is an important document that you should check periodically and most importantly whenever you repay a loan.

If the lender does not update your repayment status, they could use this to obtain additional funds from you. So periodically check your credit report to ensure your status has been updated to ‘paid’ or ‘closed’. An incorrect report can impact your credit score negatively.

As always, send us a message at support@irorun.com and let’s pair you with a loan with a responsible and ethical lender.

How to deal with persistent “lender” contact after repayment

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 ₦95,000 for 2 Months Instantly for Your Urgent Needs

Irorun Blog

Where to get an urgent 50,000 naira loan

10 loan related terms you must know

Where to get 20,000 naira loan in Nigeria

How to deal with persistent “lender” contact after repayment

Download now