Saturday, October 15, 2016

Online Credit Facilities in Nigeria: In Need of Funds Urgently?

Ignorance will not be you excuse for financial handicap anymore after reading this piece. 
Are you in any urgent need of money to: Sustain till month end; Complete a project; Start up as an entrepreneur; Keep yourself out of a mess; Have a splendid weekend with that new hot babe (Isn't this a really bad decision, who cares?); or Lemme guess, You've butchered your school fees and the school authority is breathing down your neck this exam period so there's urgent need to pay your arrears, I can relate, calling home is a no-go area. 

Securing loan from banks and
conventional credit agencies can be an Herculean task or certainly unreachable for the unemployed in Africa, that is fast changing. With the crop of new and ambitious online credit facilities (money lending companies) available in Nigeria
at this time, securing fund has never been fun or easier. Traditional bank loans are getting a real kick in the a$$ by the online solutions. Omo, technology ti take over.

You can secure loans of between ten thousand naira (N10,000) to more than one million naira (N1,000,000) from the different loan lending companies. Time to pay back, loan tenor, ranges between 1 month to as long as you choose to, you only have to be mindful of the interest rate. These companies present astounding financial inclusion to the unemployed eg students as well as the business men.

Guess what? The requirement could be basically your BVN, and/or social media accounts only (like Facebook or Twitter account). Other simple things could be required. In totality little or no paperwork nor collateral is usually required. Your profile will be ran through an algorithm that decides if you match and can be trusted, abegi na their money, they've got to make precautions.

BVN? Hu-oh! Relax. 

Some people do cringe at the request for the BVNs by financial operators. It is a standard authentication requirement, sanctioned by Central bank of Nigeria (CBN) for any financial activities in Nigeria, loan application inclusive. BVN is nothing but a means identifying you at the central database, maintained by the CBN. While these service providers can not compromise your data, having your BVN gives them a sense of security that you own the account and is not an unscrupulous human being (even if you are, looks can deceive but your credit history/record can tell them a little about you). Is this not a good thing?

Check the list of high performing credit facilities in Nigeria right now.
If you feel the list is incomplete, please holla back. No time to waste time. It's our life nah.
Happy weekend.

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