How To Get A Loan Right Now – Easy Step By Step Guide

How To Get A Loan Right Now - Easy Step By Step Guide

How To Get A Loan Right Now.

If you have ever been stranded, you will understand why learning how to get a loan right now is very important. We often need a loan to scale our business, invest, and care for our needs. 

When you’re in a dire situation and you cannot access a loan, you will feel frustrated, and chances are you will lose that which you need the loan. 

However, we have written this article to teach you the step-by-step process of getting a loan anywhere and anytime, the best platform to grant you a loan immediately, and the needed requirements to access the loan. Stay tuned

Requirements For Getting A Loan Right Now 

For you to get a loan right now, you need to meet some of the loan platform requirements. Almost all loan platforms in Nigeria have similar loan requirements and documents required. The following criteria are necessary for you to get a loan right now; 

  1. Creditworthiness score
  2. BVN 
  3. A Loan App
  4. Personal Details

1. Creditworthiness Score 

This is one of the essential requirements; without this, you cannot access loans from any platform, and you cannot get a loan right now. Your creditworthiness determines your eligibility for any loan you wish to apply for. 

The bank, or the platform you wish to obtain a loan from, calculates your creditworthiness score by checking how many people you’re owed in the past. 

If you borrowed money from any loan platform and you didn’t pay it back, your creditworthiness score will be very low, and this will make your loan application not be accepted. 

If you want to get a loan right now, you need to make sure you have a high creditworthiness score and make sure you do not owe any loan platform. 

2. Bank Verification Number

The BVN is an acronym that stands for Bank Verification Number. This is your second requirement before you can get a loan right now. 

The BVN will be submitted at the point of the loan application. For you to be eligible, make sure that the BVN you submit is directly linked to your bank account, this will enable the loan platform to access if you’re eligible for the loan you wish to obtain. 

However, when submitting your BVN, ensure you do not owe any loan platform. If you want to apply for a loan of one million Naira, for instance, the loan platform you wish to apply to will use your BVN to check your bank statement to know if you have the potential to repay the loan you want to borrow from the platform. 

This is another crucial reason most people who apply for a loan hardly get accepted. When applying for a loan, apply for the amount you can comfortably repay within the agreed period. This will make your loan approval be accepted immediately.

3. A Loan App

This is where most people make mistakes, there are so many loan platforms out there, and before you apply for any of them, you need to check their reviews. 

How many reviews does the platform have? How many of them are positive? What are people complaining about the platform? After satisfactorily getting convincing answers to the questions above, you need to check the loan interest rate. Some of the interest rates of most loan platforms are high. Go for the moderate or low ones that will enable you to repay within the agreed period. 

However, when your loan is accepted, repay before the agreed period. This will help increase your creditworthiness score, which will, in turn, increase the amount of loans you can obtain from the platform. The more you borrow and repay fast, the higher the amount you can borrow from the platform. 

4. Personal Details 

Before you’re eligible to obtain a loan from any platform, you will be required to provide some of your personal information, such as

  • Name
  • Date of birth
  • Occupation
  • Reason for obtaining the loan 

When inputting your name, make sure you input the name that corresponds to the name you used in registering your BVN. This will aid in faster verification. Furthermore, your date of birth has to correspond with the original date of birth you used when opening your bank account. 

After submitting the first three personal requirements, ensure you give a good reason for the loan you wish to obtain from the platform. Your reason for the loan will determine if the loan application process will be approved. 

Step By Step Process On How To Get A Loan Right Now 

After choosing a loan platform, follow the steps below to obtain a loan right now

  • Open the loan platform app, and make sure you have a strong internet connection
  • Click on apply for a loan
  • Fill in the necessary details and personal information 
  • You will see the category of loan you are eligible for and their repayment interest 
  • Choose the one that is most convenient for you and click on apply
  • Within 5min, your loan will be credited to your account.

Frequently Asked Questions 

Can I Get A Loan Right Now?

Yes you can, all you need to do is to follow the instructions in this article

Does My Creditworthiness Affect My Loan Application?

Yes, your creditworthiness affects your loan application process, make sure you have a high credit worthiness score before applying for a loan.

Does It Require A Collateral?

No, applying for a loan right does not require collateral.


Knowing how to get a loan right now is one of the most important things you will learn. It will enable you to escape a dire situation that needs a financial solution. 

We have done justice to this article with the step-by-step process above. After meeting the requirements in this article, you can easily apply for a loan on any loan platform and get approved immediately. 

Feel free to share your thoughts and ask questions in the comments section.