coins in a jar for emergency loans

Most emergency loans are used by small entrepreneurs to expand their business.

A restaurant owner in Lagos borrowed N10,000 from O3 Cards, a leading lending company in Nigeria. At first, he was sceptical about it, but then he decided to give it a try and he found out that he could easily borrow money without documentation. Within 10 minutes of registering and sending his application in for review, his bank account has been credited.

Now he’s gotten the small scale loans up to 10 times and is currently paying back his latest loan of 200,000 naira. With the reliability he has encountered from the service, he knows that, any point in time, he can borrow money and implement ideas to expand his business knowing well he will pay back. Being able to have this freedom and peace of mind is a blessing to any small-scale business.


Since banks are not generally inclined to providing these services to individuals or small-scale business people, it is extremely hard to get an emergency loan in the case of a medical emergency.

This is what we call an emergency in the truest sense of the word, as it is not something that is planned for and as such there might not be some spare cash set aside for medical emergencies. While it can be heart-wrenching, there is some comfort in knowing that when people have an emergency they can access these loans to take care of their emergencies.

Other everyday emergencies can arise that needs emergency funds. Say your car broke down and you are required to spend a lot of cash for repairs, you need to repair because as a Nigerian living in Nigeria, you will agree that nothing beats mobility and the comfort that comes from having your own car. In cases like these, emergency funds come handy.

For emergencies like flooding or fire incidence which nobody prays for, emergency loans can be collected to repair or replace damaged household and personal properties


The month is coming to an end and your salary account is running dangerously low but bills are piling and expenses have to be made.

Sounds familiar?

This is the reality for most salary earners in Nigeria. This category of people form the bulk of the customers of these money lending companies. Most times, they (salary earners) take what is called a payday loan, which is just a loan that you take and then it will be deducted from your salary account when your salary is paid in at the end of the month. This kind of loan is different from the other kinds of loan where you pay in installments because for payday loans all the money you borrowed is taken at once.

While there’s a chance of this leading to debt trap (a situation where one borrows every month to pay up a previous loan), it is still a very attractive proposition to most salary earners. This is because they know that they will get their salary and be able to pay up the loans in due time.


They are not business owners, they do not have medical emergencies and they definitely are not salary earners, they are just everyday people living in Nigeria. They need emergency loans to pay rent, pay school fees, buy things they want and sometimes, these everyday people collect emergency loans to fund their lavish lifestyle and just fix up their daily lives.

Interested in getting a loan to meet an emergency need? We’re here for you! Give us a call on 07006322737 or 012777630 or send us an email at care@o3cards.com today.

© 2018 O3 Capital Nigeria Limited. 18A Jerry Iriabe Street, Lekki Phase 1, Lagos, Nigeria.