How to get a loan from Sokoloan

Filed in Blog by on April 10, 2021 0 Comments

How to get a loan from Sokoloan

Sokoloan is a provider of online loans in Nigeria that provide Nigerians with short-term loans without collateral through a mobile app. The credit platform is owned by a Soko Lending Company Limited microfinance company whose primary focus is on providing financial services to income-efficient entrepreneurs, small enterprises, women entrepreneurs and students.


The platform is open 24/7 and the application is quick. There’s no bug, except there. You promise to borrow instantly. No access loan collateral is required for applicants. The only medium is the mobile application.

Requirement for Sokoloan 

Here are the requirements to get a loan:

  1. Valid bank details
  2. Bank Verification Number (BVN)
  3. A working phone number
  4. An android phone
  5. Internet connection
  6. A means of identification
  7. Valid ATM card (for repayment)
  8. You must be an adult with a job or self-employed
How to get a loan from Sokoloan

Follow these steps to get a loan from Sokoloan:

  1. Download the mobile app

To get a loan you must download the app. They only give loan through the mobile app. You can visit the Google playstore to download the app.

  1. Sign up

You can click on it to register after you have downloaded and installed the application on your phone. Follow the instructions and fill in your registration information beginning with the verification of your telephone number. To register complete, basic information will be required, such as name, e-mail, telephone number etc.


  1.  Apply for loan

Once you have completed your registration just apply for loan. You will see the option to apply on the app. You will get a loan offer

  1. Submit your application and wait for loan decision

Upon viewing your loan offer, you will submit your application on the expected repayment date and other necessary information, if it is all right. Then you must wait for the decision on the loan. It shouldn’t take so much time to get there. Give it for an hour or a few minutes.

How much can you borrow?

A loan from 5,000 to 100,000 can be received. Note that only small loans will be offered to you at your first attempt. You’ll get a bigger offer if you repay it on time. Other factors could influence how much you get. Your credit score is one.

Sokoloan interest rate

The interest rate is from 4.5% – 34% with an equivalent monthly interest of 3% – 29% and APR of 29% – 365%. You get an improved interest rate by paying your loan on time and also by referring people to the app.

Loan Term

The loan term ranges from 7 days to 190 days

Repayment of Sokoloan

The duration of the loan varies between 7 and 190 days. This should be clear to you before you submit your application.

It’s your ATM card that can repay your loan. You must include your ATM card in your profile when you sign up for a loan. Your loan is deducted from the card you have added.

You only need to finance your account, open the application and reimburse your account. Contact your customer service immediately if you have any problems.

Please note that your loan date cannot be rescheduled. Payment is due on the date of payment. If you have problems paying, however, make sure you get in touch with them.

Sokoloan head office

The head office is located at 9, Acme Road, Agidingbi Ikeja, Lagos

Sokoloan customer care and email

The customer support phone number is 01-4536792 or 08148799371

The customer support email is or

Sokoloan app

The app is available and you can download it from the Google play store. Only android phone users can access the app. There is no app for iOS (iPhone) users yet.

Sokoloan website


You can view our website for more loan option

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