How to Borrow Money from Moniepoint in Nigeria—Full Guide 2026

Many people in Nigeria use Moniepoint for transfers, POS business transactions, and business banking but many don’t know how to borrow money from moniepoint.

We’ve received several questions from our users asking if they can borrow money from Moniepoint.

The short answer is yes, but moniepoint loans are not the same as those kind of loans you collect from loan apps.

Moniepoint loans are not personal loans, there are primarily loans that are designed for business owners and merchants.

In this guide, we’ll explain clearly how Moniepoint loans work, and guide you on how to access and apply for moniepoint loans.

Does Moniepoint Give Loans in Nigeria?

Yes, Moniepoint gives loans but not personal loans, their loans are specifically business and merchant loans.

According to them, their loans are designed to support the following:

Working capital for businesses
Inventory purchase
Business expansion
Daily business operational expenses

Who Can Borrow Money from Moniepoint?

Although the moniepoint loans are for businesses, not every Moniepoint user or business profile automatically qualifies for a loan.

According to the Moniepoint support documentation, their loan are primarily business loans for SME (small and medium enterprises) and large businesses that meets their loan criteria.

To qualify for their loans, the platform will evaluate your accounts history to determine if you are worthy to receive their loan.

Who is Qualified for Moniepoint Loans?

You may qualify for moniepoint loan if you:

Have an active Moniepoint business account with a good financial history
Use the business account regularly for business transactions
Run a registered and verified business
Maintain a good transaction history

Moniepoint usually uses your transaction history to check your business activity before deciding whether you are eligible for a loan or not.

Quick facts about Moniepoint Loan

Loan Type: Working capital loans for businesses
Loan Amount: ₦1,000,000 and up to ₦10 billion
Interest Rate: 2-3% per month (24-40% per annum)
Repayment Duration: Flexible repayment plans that matches the borrower’s need
Approval Time: Within 24-72 hours
Application Time: within 5 minutes
Eligibility: Businesses with a physical location, CAC registration, good credit score, high transaction volume and consistent transactions
Collateral: not required
Paperwork: not required
Guarantor: not required
Loan Purpose: suitable for inventory, expansion, payroll, or other business needs
Application Availability: available 24/7 online
Loan Disbursement: Funds credited to user’s moniepoint business within minutes of approval
Credit Check: Uses automatic credit score algorithm checker
Transaction Check: Uses your transaction history to check financial volume
Hidden Fees: None
Loan Terms: very transparent
FCCPC Approval: Licensed by the Central Bank of Nigeria (CBN)
Data Security: User data protected
Customer Support: Available via moniepoint business app

Requirements to Get a Moniepoint Loan

To access loans on Moniepoint, you may need the following to qualify:

Must be a merchant that operates Moniepoint business account for not less than 2 months
Valid means identification (part of KYC)
Must have an existing business with a good turnover
A registered Moniepoint Business account with BVN linked to the account
Business verification (if the need for that arises)
Enough business transactions history
Must pass a credit check
Must Provide two (2) suitable and reputable guarantors
Must have a good character

For bigger loans, Moniepoint may request additional documents for verification such as:

CAC business registration certificate
Shop rent receipt
Utility bill receipt, etc.

These are usually required only if they need further verification of your business address, especially when the automatic online verification fails or seems not to be enough for the amount you want to borrow.

How to Borrow Money from Moniepoint

There are different ways to borrow from moniepoint. You can borrow money from Moniepoint through their mobile app or via their website.

Step 1: Open a Moniepoint Business Account

First of all download the Moniepoint business app from Google Play Store
After downloading, create a business account
Complete your identity verification, and link your BVN
Or follow this link to apply: https://moniepoint.com/ng/business/working-capital-loans

Step 2: Keep Your Account Active

Like I said earlier, to qualify for moniepoint loan, you must have history of high volume of transactions. Moniepoint uses these transaction histories to determine your business capacity and loan worthiness.

To increase your chances of getting their loan faster, do the following on daily basis:

Regular transfers
POS transactions
Regular deposits

The more you keep your moniepoint business account active, the higher the chances of getting a loan offer faster.

Step 3: Loan Qualification

You won’t qualify for Moniepoint business loan immediately you own their business account.

Their system will gradually check your account activity automatically over a period of time.

If at any point you qualify for their loan:

You will receive a notification
You will be able to access the loan feature through your dashboard

If you can’t access the loan option, it means two things – it’s either your account has not met the requirements or your account is outdated, so you may need to update your app.

Step 4: Checking Loan Eligibility

To know if you are qualified for Moniepoint business loan within the app, follow these steps:

Log in to your Moniepoint business app
Navigate to Loans section
Tap on “Eligibility Check”
Wait for the Loan Request to Complete
On completion, tap on “View Result” to see your loan eligibility status
Check your available loan amount

The system will show the particular amount you can borrow based on your account qualification.

Step 5: Checking Loan Amount

If you are qualified for the loan, carefully review the loan terms which include:

loan amount
interest rate
repayment period (credit line tenure)
total repayable amount
late fee (amount charged if you miss the repayment date)

Step 6: Submit Your Loan Application

After confirming and consenting to the loan terms:

Select the amount you want
Accept the terms and conditions
Submit your request
Await disbursement (usually within few hours with maximum wait time of 72 hours)

Step 7: Disbursement

If your business loan application is approved, the approved amount will be credited directly to your Moniepoint business account

How Much Can You Borrow from Moniepoint?

Small businesses can borrow between ₦1,000,000 to up to ₦10 billion from the Moniepoint business loan.

Their loan amounts vary depending on your business size, business activity, transaction volume, credit score, etc.

Factors that determines your moniepoint loan limit include:

Transaction volume
Business size
Business performance
Repayment history
Risk profile
Credit score
Business details verification (KYC confirmation)

The minimum loan amount is ₦1,000,000 but the exact loan amount you’re eligible for will be displayed during the application process.

Moniepoint Loan Repayment

Moniepoint has very flexible repayment options. Their repayment options include:

Instalmental repayment
One time repayment

Moniepoint also has options for automatic repayment (automatic deduction from your Moniepoint business account) or manual repayment.

Can You Borrow Money from Moniepoint Using USSD?

No. You can’t use USSD to borrow from moniepoint. Their USSD service is mainly used for:

Transferring money
Buying airtime
Paying bills

Their loan applications is only available via their business app.

Can individuals borrow money from Moniepoint?

No. Moniepoint loans are specifically for business and merchants.

Do I need BVN to get Moniepoint loan?

Yes. BVN is typically a compulsory requirement for moniepoint loan’s KYC verification.

What happens if I miss repayment?

Missing and refusing to repay your loan may attract some penalties like:

Reducing of future loan eligibility
Affecting your credit profile
Prompting automatic deduction from your moniepoint account

Moniepoint Loan Alternatives

Moniepoint does not give personal loan like most loan apps, for personal loans, you can try the following loan apps:

FairMoney
Easemoni
Carbon
Branch
Okash
Renmoney
Kuda
Palmcredit
QuickCheck
Aella Credit

Conclusion

If you own a business and process transactions through Moniepoint, I believe this guide will be able to guide you on how to borrow money from Moniepoint.

Remember, they don’t give personal loans and the requirements for their loans are more stricter than the usual loan apps.

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