The Federal Government has introduced a loan service called SPARK.
It runs on USSD, so people can use it on basic phones without needing internet or a smartphone.
It is aimed mainly at first time borrowers who have little or no credit history.
The USSD code shown for SPARK is 347333#.
However, the service is not yet confirmed to be running across the country.
CREDICORP says it should be more widely available before the end of 2026.
SPARK is meant to help borrowers build a repayment record, which could make it easier to get other financial services later.
CREDICORP says its wider programmes cover mobility (such as CNG and electric vehicles), digital devices, energy (generators and solar panels), home items and essentials like healthcare, clothing and food.
It has not confirmed that all of these can be financed through SPARK yet.
The launch took place at a showcase in Aba, Abia State, where more than 1,000 residents attended.
The corporation has not yet published full details on loan limits, interest rates, repayment periods or eligibility.
People should avoid unofficial agents or websites that ask for upfront payment to guarantee a loan.