SpotyLoans is a online lending platform offering loan services to individuals and private investors for a short or a long term. SpotyLoans’s aim is offer users easy access to finance to grow their businesses and create jobs.

It appears that SpotyLoans would focus offering loans to individuals from South Eastern region of Nigeria.  The micro landing platform was developed to bridge the funding gap for SMEs that struggle to access finance.

According to SpotyLoans’ co-founder Ernest Mbila,

“SMEs have little or no funding because of the tasking requirements for bank loans. Fresh graduate who do not have any source of cash miss job interviews because they lack the transport fare. We want to bridge this friction of the market. The low minimum wage in Nigeria makes executing capital-intensive projects impossible for payday earners. We want to make it possible for them, via payday loans.”


The self-funded startup said it has already seen positive uptake, providing three clients with loans since its launch, but is looking for investment to satisfy demand.

Spotyloans will offer three loan products: a ‘Pay Day’ loan, a ‘Kia Kia’ (literally ‘quick quick’ in Hausa) loan, and an ‘SME’ loan.

Pay Day:   The Pay Day feature will users to gain access to amount worth N1, 000,000 within 24 hours, with no hidden charges or collateral.

Kia Kia:  While PayDay is within 24 hours after users have met all the requirements, KiaKia  gives access to  instance cash within 5 minutes. Again, no hidden charges, no collateral.

SME:  The SME feature designed business owners to get access to N1,000,000  within 24 hours from the comfort of your business premises. This feature also no hidden charges or collateral.

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