The world is changing fast, and Nigerians are becoming smarter with how they manage money. Nobody wants to queue in banks for long hours just to borrow small cash. What makes this new era special is that most microfinance banks in Nigeria have made it possible to get quick loans without visiting any branch.
From personal emergencies to small business needs, you can now borrow money in less than 10 minutes if you use the right platforms. In this article, we’ve listed five trusted microfinance banks that allow you to access funds quickly using their apps or USSD codes, all verified and active in 2025.
1. LAPO Microfinance Bank
LAPO Microfinance Bank is one of the biggest and oldest names in Nigeria’s microfinance space. The bank has been around for years, helping market women, traders, and small business owners with low-interest loans.
Their fast loan system is designed to make sure that people don’t waste time when they need urgent support.
Why LAPO is among the fastest:
- They have both offline (USSD) and online (app) loan channels.
- If you already have a record with them, approval can come in less than 10 minutes.
- LAPO has agents and digital systems across the country that handle instant verification.
Loan access methods:
- Through the USSD code (works even without internet).
- Via their official LAPO mobile app.
- Or through LAPO agents who can submit your application instantly.
Requirements:
- Valid BVN, registered phone number, and a verifiable income source.
- For returning users, only PIN and account confirmation are needed.
LAPO has remained a trusted name because they’ve built strong customer confidence over the years. Their repayment plans are flexible, and their interest rates are fair compared to many quick loan apps.
2. AB Microfinance Bank
AB Microfinance Bank focuses mainly on small and medium-sized business owners and individuals who need urgent cash to keep their business moving. They are licensed by the Central Bank of Nigeria (CBN) and known for being reliable and safe.
How they provide quick loans:
- AB has a strong digital system that processes loan requests automatically.
- Their USSD code (*389*755#) allows users to apply for loans or check balances even without data.
- Through the myABmobile app, customers can also complete transactions instantly.
Steps to get a loan quickly:
- Dial *389*755# using your registered phone number.
- Select the “Loans” option from the menu.
- Input the amount and confirm your account number.
- Enter your PIN and submit.
If you already have an existing account, the loan disbursement process is usually under 10 minutes once approved.
Why AB Microfinance stands out:
- They have a low failure rate in transactions.
- They give access to both business and personal loans.
- Customer support is responsive through their app and branches.
For those running small businesses or traders who don’t want to deal with the stress of commercial banks, AB MFB is one of the most reliable options.
3. Links Microfinance Bank (Sofri App)
Links Microfinance Bank is part of the DLM Capital Group, and they’ve brought modern innovation into the microfinance space. Their mobile app, Sofri, which means “so free,” is designed to make banking and borrowing completely stress-free.
Why it’s one of the fastest:
- Their digital app (Sofri) processes transactions within seconds.
- They combine microfinance banking with full fintech services.
- Users can borrow, save, transfer, and pay bills all from one app.
Services they offer:
- Quick personal and SME loans.
- Transfers across all Nigerian banks.
- Bill payments, airtime, and data recharge.
- Debit cards and account management.
- Offline banking via USSD code *723*2222#.
How to borrow or transfer with Links USSD:
- Dial *723*2222# on your registered number.
- If you’re a new user, choose “1 = Register” and input your account number.
- Set a USSD PIN for security.
- From the menu, choose “Loans” or “Transfer.”
- Enter the amount and confirm with PIN.
The catch here is that only people who already have a Sofri app account or branch account can use the USSD. That’s how they maintain speed and avoid network frauds.
4. FairMoney Microfinance Bank
FairMoney is a fully licensed microfinance bank that started as a mobile lending app but has grown into a full digital bank. Their system uses artificial intelligence to analyze your mobile usage, transactions, and repayment behavior to approve loans within minutes.
Why FairMoney loans are very fast:
- The app automatically checks your loan eligibility.
- Returning users can get approval and disbursement in under 5–10 minutes.
- No paperwork, no collateral, everything is digital.
Main features:
- Quick personal loans up to ₦5 million.
- Free bank transfers and bill payments.
- Savings with up to 15% interest.
- 24/7 customer support within the app.
How to borrow:
- Download the FairMoney app.
- Register using your phone number and BVN.
- Apply for the loan amount you need.
- Wait for instant decision and disbursement.
FairMoney is one of the few that truly delivers “money in minutes” for Nigerians with consistent repayment records.
5. RenMoney
RenMoney operates as a microfinance and digital lending company focused on simple and accessible loans for Nigerians. They’ve built their reputation on trust, fast response, and flexible repayment plans.
Why they are among the top 5:
- The loan application process is simple and 100% online.
- Verified users can receive funds in less than 10 minutes.
- They don’t require collateral for small loans.
Main loan categories:
- Salary earners’ loans.
- Business and personal emergency loans.
- Debt consolidation and SME support loans.
How to get a loan:
- Visit the RenMoney website or use the app.
- Sign up and fill in personal and bank details.
- Select loan amount and repayment plan.
- If eligible, approval and credit come instantly.
RenMoney is particularly good for people who want bigger loans with a bit more structure and still enjoy fast responses.
What Makes These 5 the Best for 10-Minute Loans
- They are licensed by CBN, meaning your money is safe.
- They have working apps and USSD codes that don’t depend only on internet connection.
- They serve both urban and rural users.
- They’ve invested in digital speed and credit automation.
When you’re in a hurry, avoid random loan apps. Stick to microfinance banks that have a real presence, working support, and licenses—the 5 listed here meet all that.
Conclusion
Getting a fast loan in Nigeria no longer depends on luck. With trusted names like LAPO, AB Microfinance, Links (Sofri), FairMoney, and RenMoney, you can borrow in 10 minutes or less once you’re registered and verified.
Always remember, the faster the loan, the stricter the repayment window. Borrow wisely, repay on time, and your account stays in good standing for the next time you need urgent help.
