How To Get Loan From Moniepoint (And What Most People Don't Tell You About It)

Let's be real. Everyone's talking about how to get a loan from Moniepoint, but no one's explaining it in a way that actually makes sense.

You hear people say, “Just apply through the app,” or “They only give loans to business owners.” But what does that really mean? Who qualifies? And what happens if Moniepoint says “no”?

That's what I'll break down here - step by step. No fluff. No fancy jargon. Just straight talk from someone who's actually tried it.

If you've ever tried to borrow money from a digital bank, you know the drill. Promises everywhere. But when it's time to apply — boom — “You're not eligible.”

That's why it helps to understand what Moniepoint looks for before you even tap “Apply.” I'll walk you through all of that.

And if you ever hit a wall with them, I'll show you a fast alternative that actually works.

Here's one option I personally recommend when Moniepoint doesn't come through:

Alright, let's get into it.

If you're in Nigeria, you've probably seen that blue POS logo at almost every corner shop. That's Moniepoint.

They started as a POS and agency banking company - helping businesses accept transfers, cash withdrawals, and deposits. Now they've grown into a full digital bank, offering business accounts, debit cards, bill payments, and loans.

But here's the catch: Their loans aren't open to everyone. They're mainly built for small business owners who already use Moniepoint's POS or business account.

So, if you're just a regular user trying to borrow for personal reasons, that's probably why you're hitting roadblocks.

Still, there are ways to make it work - if you know what they check.

Let's break it down in plain English. Here's exactly how to get loan from Moniepoint - and what most people miss.

You can't skip this part. Moniepoint loans are only available through business accounts — not personal ones.

To set it up:

Once you've done that, you'll get access to your dashboard and business tools.

Tip: even if your business isn't registered, you can still open an account as a “sole proprietor.”

Here's where most people mess up. Moniepoint doesn't just give loans because you asked nicely.

They look at your transaction history. If your account is active — meaning money's coming in and going out regularly — you stand a better chance.

Think of it like this: They want to know you can repay what you borrow. So, more activity = more trust = higher chance of approval.

Try to:

After a few weeks of consistent use, Moniepoint's system automatically flags your account as “eligible” for loan offers.

Here's the fun part. Once you're active enough, Moniepoint might notify you of a loan offer through:

Log in to your dashboard, and look for “Loans” or “Credit.”

If you see a loan offer, congrats — that means you're eligible. But before you accept, make sure to check the details:

If it looks fair, proceed.

If it doesn't — keep reading, because I'll show you a better alternative soon.

Once you accept, Moniepoint sends the money straight to your business account — usually within minutes.

Repayments are deducted automatically from your daily POS or account transactions. So, make sure you keep enough balance every day.

If you default, your future offers may be blocked. But if you repay on time, they'll likely increase your limit next time.

Here's the truth: Moniepoint loans work, but they're not for everyone.

When I first applied, I got rejected because I wasn't running steady transactions. After I started processing payments daily, my dashboard suddenly showed a ₦50,000 offer.

I took it, repaid it in three weeks, and they raised it to ₦120,000.

So yes - it's real. But it's not instant. You earn their trust first.

If you need emergency cash and don't want to wait that long, check this next part.

Alright, let's be honest - sometimes you just need money now. You can't wait weeks for transaction history to build up.

That's where Cashx Loan App comes in.

Cashx is built for speed. No business account, no POS terminal, no stress.

Here's what makes it worth trying:

It's great for covering emergency bills, rent, school fees, or side hustles.

To qualify for Moniepoint's business loans, you'll need:

If any of these are missing, your loan offer may be delayed.

Moniepoint doesn't have a fixed rate for everyone. Your rate depends on your loan size, repayment history, and how active your account is.

Most users report an interest rate between 5% and 15%, with repayment periods of 1 to 3 months.

It's deducted automatically — so you don't need to log in or remember payment dates.

Let's save you some headaches. Here are the top mistakes people make when trying to get a loan from Moniepoint:

Avoid those, and you're already ahead of 90% of applicants.

Want higher limits next time? Here's what works:

The system rewards consistency. Treat your account like a living business profile - the more life it has, the more they trust you.

If you applied and got denied, relax — it's not personal.

Moniepoint uses automated scoring. If your account doesn't show enough business activity, the system assumes you can't repay.

It's like trying to borrow from someone who doesn't know you - they'll hesitate.

That's why alternatives like Cashx Loan App exist. They approve based on identity verification and phone data, not long transaction history.

You can apply directly via Cashx Loan App .

1. Can individuals get loans from Moniepoint? Not yet. Moniepoint loans are mainly for business owners using their POS or business account.

2. How long does it take to get approval? Usually within minutes once you're eligible, but it can take weeks of account activity before that offer appears.

3. Is Moniepoint safe? Yes. It's licensed by the Central Bank of Nigeria (CBN) and insured by NDIC. Your funds and loan data are protected.