Tips On How To Borrow Money on Sokoloan In Nigeria

Sokoloan is a short time money lending platforms in Nigeria that gives out loans without collateral or documents to individuals or small business who are in need of cash either to finance their small businesses or for any other personal issues.

There are more than one money lending platforms in Nigeria that gives out loans to individuals or small businesses such as PalmCreditFintCarbon (paylater) etc they are good companies to consider Incase you are not satisfied with sokoloan, they all have their pros and cons, but none can be compared to sokoloan in terms of giving out short time loan.

So in this article, am going to do about the following issues:

  • Explain what sokoloan is all about
  • Explain the basic features Of Sokoloan
  • Explain how to apply for a sokoloan loan
  • Explain why your personal information is secured while using the sokoloan app
  • Explain sokoloan interest rate and repayment schedule
  • How to repay your sokoloan loan
  • Know sokoloan customers care number and head office.

All About Sokoloan Nigeria

Soko lending company limited also known as sokoloan, is a microfinance institution that provides short term loans in Nigeria through its app. It provides financial services to low income entrepreneurs, grassroots employees of SMEs, women with entrepreneurial needs, students who continue to learn, shoppers with consumer needs, customers with fixed assets mortgage, traders and small scale farmers. You can apply for a sokoloan loan in Nigeria anytime with their quick application process that lets you know your application status within 5 minutes all through the app.

Basic Features Of Sokoloan

  1. Once you download and install the app, it’s very easy to use.
  2. You can obtain a loan within 5 minutes if being accepted directly to your bank account.
  3. All your informations/details provided to sokoloan are 100% secures from third party access.
  4. Good customer support 24/7.
  5. It requires no collateral or documents before granting you loan.
  6. Only an Android device with internet connection is needed to apply for a sokoloan loan.

How To Apply For A Sokoloan Loan In Nigeria

Before applying for a sokoloan loan in Nigeria, please make sure you have an Android device with an internet connection, now stick by the following methods:

  • Click here to take you to Google play store where you are required to download and install the sokoloan app.
  • Now since you don’t have an account with them, you have to create an account ie. You have to register.
  • Fill in your details such as your name, password, phone number, BVN, card/bank details etc.
  • Select any amount of money you that is available for you to borrow.
  • Choose when to repay the loan, usually from 2 to 6 months.
  • Receive your funds within 5 minutes if being accepted directly to your bank account.


Soko lending company ltd will request your BVN because, it is used to verify that the individual applying for a sokoloan loan is the same as the owner of the provided bank account. This is to ensure that your details cannot be used to apply for a loan without your authorization in the event a 3rd party has access to your account details.

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It’s my card/bank details Secured while using sokoloan app?

Yes, your card/bank details are secured because sokoloan platform uses a world class standard security and encryption technology to protect all its users card details. So when you provide them your information, be assured of your privacy. Your loan status are being kept confidentially.

Sokoloan lending company ltd will never share your personal details with 3rd parties, unless it is for dedicated purposes, such as reporting of loan defaulters to authorized credit bureaus.

Sokoloan Interest Rate And Repayment Schedule

Sokoloan app allows you to borrow money up to N30,000 with an interest rate ranging from 4.5% to 34% to pay back in 2 to 6 months.

How To Repay Your loan on Sokoloan

On your due date, the soko lending company limited will automatically deducts your payment from your account details you submitted when applying for a sokoloan loan while using the app.

Can i make an early repayment before my due date?

Yes, click on the “make a repayment” button found on the “my loan” page on the app only if you wish to make an early repayment of your sokoloan loan before your due date.


Early repayment does not imply that the terms of your loan duties will change. Your repayment terms are fixed at the point of loan application and the total amount to be paid is not changed by an early repayment.

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Sokoloan Nigeria Customer Care Number

If you feel like you needed to contact sokoloan customer service, please dial 01-4536792 or 08148799371.

You can also send them a mail at or

Head office

Sokoloan lending company, 9, Acme Road, Agidingbi, Ikeja Lagos.


Sokoloan is relatively new among the loan company in Nigeria. Since it protects the security of your information, why not go now and apply for a loan.

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