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The short answer
If a co-working space or serviced office is a Spaces merchant and a Loans on Spaces limit has been offered to you in the Pryme app, you can pay for a desk on credit after accepting an agreement that shows the amount, cost and repayment date. It makes most sense when the desk helps you earn, and when the repayment date falls after client payments you are confident of.
Why freelancers pay for desk space
Working from home in Nigeria often means unreliable power, patchy internet, noise and no professional place to meet clients. A co-working desk solves several of these at once: steady power, a working connection, a meeting room when you need one, and a routine. For a freelancer, those hours can be the difference between delivering on time and losing a client.
The catch is cash flow. Freelance income is lumpy. A client may pay at the end of a project, or 30 days after an invoice, while the co-working space wants payment at the start of the month.
How Loans on Spaces works for a desk
- Who lends
- Solid Allianze Microfinance Bank Ltd, a CBN-licensed microfinance bank. Pryme Financial Ltd is a technology company, not a lender.
- Where it can be spent
- Only with merchants in Spaces. Serviced offices and co-working spaces are a supported sector, but only those that have joined Spaces can be paid.
- How a limit is offered
- Based on how your Pryme account is run, with credit bureau checks. There is no separate loan form.
- What you see
- The full agreement: amount, cost and repayment date, before anything is drawn.
- Where the money goes
- To the co-working operator. It is not paid to you as cash.
- Confirm the co-working space is a Spaces merchant in the Pryme app.
- Choose the plan: day passes, a hot desk, a dedicated desk or a private office.
- Start the payment and read the agreement.
- Accept only if the repayment date comes after income you are confident of.
- Keep the receipt; it may be a deductible business expense, so ask your accountant.
Does the desk pay for itself?
Before borrowing for workspace, it helps to check that the desk is likely to earn more than it costs, including the cost of borrowing.
Example only. Daniel is a freelance designer in Yaba. A monthly hot desk costs ₦70,000. At home he loses about two working days a week to power cuts and poor internet, and he bills about ₦25,000 a day.
| Working from home | Co-working desk | |
|---|---|---|
| Billable days a month | About 12 | About 20 |
| Billable income at ₦25,000 a day | ₦300,000 | ₦500,000 |
| Desk cost | ₦0 | ₦70,000 |
| Extra power and data at home | ₦40,000 | ₦10,000 |
| Income after these costs | ₦260,000 | ₦420,000 |
In this example, the desk pays for itself many times over if Daniel has enough work to fill the extra days. If his problem is too few clients rather than too few working hours, a desk will not help, and borrowing for one adds cost without adding income.
What to check with the operator
Co-working spaces differ more than their websites suggest. Visit at the time of day you would normally work, and ask direct questions before you pay for a month.
- How long does the power changeover take when grid supply drops, and is there a backup for the backup?
- What internet speed do members actually get at busy times?
- Are phone-call booths or quiet areas available, or will calls disturb others?
- How many meeting-room hours come with the plan, and what do extra hours cost?
- What are the opening hours, and is weekend or late access available?
- Is there a refund or pro-rata arrangement if you leave mid-month?
A space that looks good on a quiet morning can be crowded and slow by midday. One paid day pass before committing is often money well spent, and it costs far less than a month in the wrong place.
Timing repayment to client payments
The main risk for freelancers is a client paying late. Set your expectations from experience, not invoices. If a client usually pays 45 days after an invoice, plan around 45, not the 30 written on it.
- Borrow for one month of desk space at a time, rather than several months upfront.
- Match the repayment date to a payment you have already invoiced and which has a reliable record.
- If you receive foreign-currency payments, remember that the naira amount depends on when and whether you convert; see how freelancers in Nigeria receive dollars.
- Keep a small buffer, so one late client does not mean a missed repayment.
Missing a repayment can be reported to credit bureaus and affect future borrowing; see how credit scores work.
Where Pryme fits
A Pryme Personal Account can hold NGN, USD, GBP and EUR with local account details for each, so international clients can pay you in their currency and you convert with Swap only when you choose; see multicurrency. If a Loans on Spaces limit is offered, you can pay a co-working space in Spaces on credit. For choosing between plans, read day pass vs monthly membership, or learn more about Loans on Spaces.
Questions people ask
Can I pay for a co-working space on credit in Nigeria?
Yes, if the co-working space is a Spaces merchant and you accept a Loans on Spaces agreement in the Pryme app. The operator is paid directly.
Is a co-working space worth it for freelancers in Nigeria?
It often is if power and internet at home cost you billable time and you have enough work to fill it. If you lack clients, a desk will not solve that.
Can I use Loans on Spaces for a private office?
Yes, if the operator is a Spaces merchant and the amount fits the limit offered. Read the agreement before you accept.
Is my co-working membership tax-deductible?
It may be a business expense. Keep receipts and ask a qualified accountant about your situation.
Sources
- CBN Consumer Protection Regulations 2019 · accessed Oct 2026
- Mondaq: A glimpse into the Credit Reporting Act 2017 · accessed Oct 2026
- The Guardian: FCCPC issues digital lending regulations to tackle consumer abuses · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.