Business Loans

In today’s world, technology has made it possible for companies and entrepreneurs to manage their businesses with ease using digital platforms and apps. Essentially, these apps help to make the business management processes more efficient, convenient, and stress-free. Lenco is a digital platform you can trust to take care of your business dealings for you. Below, you will learn everything you need to know about the platform.

An Overview of Lenco

Lenco is a platform that provides current accounts for business-related services and expense management for your business growth. Basically, they help by providing a business account, which is 10 times cheaper, and better than a conventional bank account. 

The privately-held platform was founded in 2021 and has its headquarters in San Francisco, California. Basically, a team of experts designed the platform with dedicated software and tools. These tools provide solutions to the ever-growing needs of your business. Hence, it facilitates business growth. 

Also, read more on Loans Entrepreneurs Can Consider For Business Growth.

What solutions does Lenco offer?

Basically, Lenco offers two solutions. They include:

1. Business banking for Startups

The platform allows you to program automatic payments, reconciliations, and thousands of other transactions in a few seconds. Hence, you will be able to prototype fast and release new products whilst the platform handles your transactions. 

2. Transparent and seamless management for Hotels

Lenco facilitates seamless guest payments and transparent hotel expenses in your hotel. The platform has a specially designed Hotel management solution and other inbuilt tools that make your hotel management process easy and convenient. This solution has unique features like:

a. Hotel Expense Management system: With your banking data plus, you can manage all your hotel operations. This helps you to curb expense fraud.

b. Integrated Bank Transfer: It lets you receive all guests’ payments via bank transfer. This transaction will reflect directly on your Hotel Management System. 

c. Lastly, it’s an easy and convenient to use Hotel Management System: This robust software helps you run your daily hotel operations.

Basically, these features are what the platform offers for both Hotels and Startups.

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Get a loan up to N100,000 at the best affordable rates in Nigeria

Did you know that you can now you can compare interest rates from different lenders with our loan simulator and get the best deal? Making an informed loan decision requires comparing different loan offers before making a commitment. Through our simulator, you can see at a glance, loan offers coming from different lenders in less than 5 minutes, so you can make the right decision regarding your financing. Try it today

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How can I open an account on Lenco?

Opening an account on the digital platform is easy. You can open your account through the website or the Lenco mobile app. To open your account through the website, follow the steps below:

1. Visit the website, www.lenco.ng

2. Next, click on “Open an Account”.

3. Lastly, input your name, business name, email address, phone number and create a password.

Lastly, ensure that your details are correct then tap ‘Create Account’. After creating your account using the website, download the app to help you manage your account easily. If you prefer to open your account using the mobile application, just download it and then register using your details.    

What do I need to open a business bank account with Lenco?

To open your business account with Lenco, you need a few documents. If your business is registered as an Incorporated trustee, you need: 

1. Your Certificate of Incorporation 

2. Important information of your business directors and two owners of your business

3. The registration number of your business (RC/BN)

4. Also, form Co7 containing the particulars of your business directors

5. Form Co2 containing the allotment of your business shares

6. Your tax identification number 

7. In addition, a recent utility bill and passport photograph

8. SCUML

9. Lastly, referee

For more details on the requirements, you need to open an Incorporated company and a sole proprietorship business, visit their official website, www.lenco.ng

How can I download the Lenco app?

You can download the app by following the steps below:

1. First, visit the Google Play Store or the App Store if you use Android and IOS respectively.

2. Type ‘Lenco’ in the search bar.

Download the app and open an account using your details.

How can I contact Lenco?

You can contact Lenco through the following ways:

Address: 12 Rev Ogunbiyi Street, GRA, Ikeja, Lagos.

Phone Number: 0809 427 8928

Email Address: hi@lenco.ng

Website: www.lenco.ng

Bottom line

Lenco offers you a variety of business management tools for you to manage your expenses and keep your business growing. Also, it saves you from the stress associated with typical bank accounts. Basically, the platform is stress-free and convenient to use. This makes it suitable for companies and small scale businesses. 

You can obtain a comprehensive loan, tailored to your specific needs by using this platform. Basically, it allows you to compare loans from different lenders across Africa, ensuring the best option doesn’t slip through.

Due to the state of Nigeria’s economy, a lot of people lack the finances to access the necessities of life. In a quest to make ends meet, many people go as far as taking huge loans. These loans are sometimes unrepayable and may cause them to go into permanent debt. Fortunately, CreditClan solves this problem by providing a platform that allows people to access services on credit. Below is a summary of everything you need to know about the company.

An Overview of CreditClan

Creditclan is a privately held fintech company founded in 2018. The company helps businesses, banks, and merchants to provide credit to individuals across Africa. The company provides an omnichannel, which simplifies collection solutions, credits, and credibility in a way that is easy for merchants and financial institutions to leverage for scale and engage their customers.           

Essentially, the company’s platform allows you to obtain service on credit and pay later. A group of experts who are experienced in technology, risk management, data science, finance as well as customer experience manages and drives the organization. CreditClan is one of the companies that offer loans with no credit. Read more on how to get a loan with no credit in Nigeria here.

What are the services that Creditclan offers?

The platform provides services for schools, merchants, and finance partners. They include:

1. For merchants

The platform helps merchants across Africa to sell their goods on credit. Basically, it allows you to pull goods from other platforms you sell on and offer to your customers who will pay in installments. To access this service, all you need to do is to create an account as a merchant on the platform, set up your store, activate a bank partnership, and receive payment.

2. For Schools

With the school offer, you gain access to an easy and flexible way of paying your school fees. This solution makes quality education accessible to all by making a flexible school fees payment plan. To access this service, follow the steps below:

1. First register your school to create unique links for parents

2. Encourage parents to apply for the offer via the links

Lastly, once the platform approves your offer, you will receive payments.

3. For finance partners

Basically, the platform partners with bodies like banks and fintech companies. For partners, they help them to fund and access credit ecosystems at good unit economics. To gain access to this offer, just register your business on the platform.

Basically, the three services above are what CreditClan specializes in. Here are some of the things to consider before taking a loan.

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Get a loan up to N100,000 at the best affordable rates in Nigeria

Did you know that you can now you can compare interest rates from different lenders with our loan simulator and get the best deal? Making an informed loan decision requires comparing different loan offers before making a commitment. Through our simulator, you can see at a glance, loan offers coming from different lenders in less than 5 minutes, so you can make the right decision regarding your financing. Try it today

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How can I register on CreditClan?

To register on the platform, follow the steps below:

1. Log into their official website, www.creditclan.com

2. Next, click on the ‘Sign Up’ toolbar.

3. Select your preferred sign-up option. You can either sign up as a merchant, school, or finance partner. 

Lastly, input important details about your business and signup fully.

What are the requirements to sign up on CreditClan?

Below are the important details with the platform needs from you:

1. Your business name

2. Also, your business phone number

3. The name and category of your products (for merchants)

4. CBN license (For financial institutions)

5. Lastly, you need to create a strong password to secure your account from intruders.

Does CreditClan have a mobile app?

No, CreditClan does not have a mobile app yet. However, you can access all of their services through their official website, www.creditclan.com. Also, find out 5 common reasons why your loan application may be rejected.

How can I contact CreditClan?

Address: 1038b Ologun Agbaje Street, Victoria Island 106104, Lagos. Nigeria

Website: www.creditclan.com

Phone Number: 0905 353 5333

Email Address: support@creditclan.com

Bottom Line

CreditClan is a company that provides a platform that connects lenders and borrowers all over Africa. The company focuses on helping people access necessary services by offering them a flexible payment option. Also, they connect these consumers to merchants, schools, and businesses that are willing to provide credit to individuals. Essentially, the platform is easy to use, convenient and helpful. 

Need a loan? Kindly check out this platform that allows you to compare loans from several lenders in minutes. This would help you make the best decision for you.

In Nigeria today, many people do not have access to basic financial services. The minority of people fortunate to have access to conventional banking services complain of the problem of waiting in long queues. ReadyCash is a company that aims to solve the problem of lack of access to adequate financial services for Nigerians. Here is everything you need to know about the company.

An Overview of ReadyCash

ReadyCash is a banking network that helps Nigerians access better financial services by allowing cashless transactions between people. The organization is owned by Parkway Projects and was founded in 2012. Basically, they recruit agents who dedicate themselves to providing financial services for a considerable portion of Nigeria’s population. Also, they give recruiters the chance to earn money through this means and to employ other interested participants under them. 

The CBN-licensed company uses a mobile payment service that allows you to create and manage virtual wallets. Essentially, this wallet allows you to keep money and perform transactions easily and conveniently.  

What services does ReadyCash offer?

The features of ReadyCash includes the following:

1. Send and Withdraw money

With the ReadyCash app, you can send money to any bank in Nigeria with just one click on your phone. Additionally, you can withdraw cash from your banks through ReadyCash POS or agents.

2. Pay bills

You can pay bills conveniently. Basic bills like your electricity bill or Cable bill can be paid using your App.

3. Pay Merchants

The app allows you to make payments to entrepreneurs and shop owners with your smartphone. This process is simple and hassle-free.

3. Airtime recharge

The digital banking service allows you to buy airtime for yourself and for your loved ones conveniently. 

Lastly, the platform gives you a chance to open an account and enroll for your BVN without waiting in long queues. 

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Get a loan up to N100,000 at the best affordable rates in Nigeria

Did you know that you can now you can compare interest rates from different lenders with our loan simulator and get the best deal? Making an informed loan decision requires comparing different loan offers before making a commitment. Through our simulator, you can see at a glance, loan offers coming from different lenders in less than 5 minutes, so you can make the right decision regarding your financing. Try it today

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How can I become a ReadyCash agent?

To become a Ready cash agent, follow the steps below:

1. Download the mobile app, ReadyCash on Google Playstore for Android.

2. Create an account on the app by filling the registration form.

3. Next, wait for feedback from them. You will get feedback about the success of your process within 72 hours.

After you get approved, you will receive an agent ID, a pin, and a password with which you can make your mobile money transactions.

What are the requirements needed to become a ReadyCash agent?

The requirements you need to become an agent are:

1. A government-issued valid means of identification

2. Your valid utility bill

3. A clear image of yourself

Basically, these requirements will prove the authenticity of your account.

How can I get a free POS from ReadyCash?

Every ReadyCash POS agent is entitled to one POS machine. However, to get the machine, you need to:

1. Pay a total of N10,000 which will act as a collateral fee.

2. Meet the transaction target for the month. The minimum transaction volume in a month is N2,000,000(two million naira). 

3. You will also need to pay a delivery fee depending on your location. 

Another alternative to a POS machine is a pin pad. A pin pad is directly linked to your agent account.

How can I get ReadyCash’s Pinpad?

The pin pad machine is similar to the POS machine. However, you can use it to withdraw and deposit at charges different from the POS machine. To get a pin pad, you need to pay N20,000 which is the cost of the pin pad.

Where can I download the ReadyCash App?

You can download the app on Google Playstore for androids only at the time of this writing. 

How can I contact ReadyCash?

You can contact ReadyCash company through the following ways:

Address: 295 Herbert Macaulay Way, Yaba, 101245, Lagos, Nigeria.

Phone number: 01 454 3219

Website: www.readycash.com.ng

Email Address: support@ppl.zendesk.com

Bottom line

ReadyCash is a digital platform that provides you with easy ways to access financial services. Also, the company empowers Nigerians by offering individuals the chance to become their transaction agents. In essence, the platform helps you to make your money transactions seamless and convenient.

Need a loan? Kindly check out this platform that allows you to compare loans from several lenders in minutes. This would help you make the best decision for you.

The problem of waiting on long queues just to make money transactions is now outdated. Basically, people prefer to send and receive money from the comfort of their homes. SendCash is a digital tool that allows you to transfer and receive funds easily and conveniently. Here is a detailed summary of everything you need to know about the company.

An Overview of SendCash

SendCash is a digital platform that allows you to make quick and affordable fund transfers to Nigeria. The platform allows you to receive foreign currency directly to your account at a cheap exchange rate. Also, you can send money from Nigeria to over 80 countries worldwide. The Helicarrier group launched SendCash in 2020 to facilitate seamless cross-border transfers.

How does SendCash work?

Below are the simple steps that show how the digital platform works:

1. First, the platform links your Nigerian bank account to a specific Bitcoin wallet address.

2. A sender sends Bitcoin to your wallet address from notable platforms like Coinbase or Cash App.

3. You receive the Naira equivalent in your bank account.

Basically, you do not need to interact directly with Bitcoin before you receive cash. SendCash does the whole process for you. However beware of fraudsters and stay ahead by reading more on how to identify loan scams.

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Get a loan up to N100,000 at the best affordable rates in Nigeria

Did you know that you can now you can compare interest rates from different lenders with our loan simulator and get the best deal? Making an informed loan decision requires comparing different loan offers before making a commitment. Through our simulator, you can see at a glance, loan offers coming from different lenders in less than 5 minutes, so you can make the right decision regarding your financing. Try it today

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How can I transfer money through SendCash?

With this platform, you can make money transfers without signing up. To transfer money via SendCash, follow the steps below:

1.       Log into their official website, www.sendcash.africa.

2.       Input the necessary transaction details.

3.       Lastly, the receiver gets the money within an hour of your transaction.

Also, you can download the app on the App Store for iOS or Google PlayStore for Andriod. The app gives you a better experience. However, you need to sign-up before using it.

What are the benefits of using SendCash?

SendCash offers you a wide range of amazing benefits. They include:

1. Sending Money

Sending money conveniently is the primary purpose of SendCash. Therefore, with this platform, you can send up to $2,500 every day via peer-to-peer or Bitcoin methods for free.

2. Storing Beneficiaries

You can simply save the contacts of your loved ones on the app. Basically, by doing this, you can easily gain access to their details and send them money easily.

3. Payment links

After you signup, the app allocates you a unique payment link. With this link, you can easily receive money from friends, family, or clients globally.

4. Tracking Transfers

The app automatically generates and store details of every transfer you have made in the past. Hence, you gain access to your transfer history. This facilitates easy tracking of transfer.

What is SendCash Pay and how does it work?

SendCash Pay, a subsidiary of SendCash is a package of developer tools that facilitates seamless transactions. This software allows you to add a seamless and borderless payment experience to your online products. Basically, these tools lets you do the following:

a.       Receive Naira payments via direct bank transfer.

b.       Accept payments settlements globally. With SendCash Pay, you do not need to have a bank account where your users are to be paid.

c.       Also, receive payment from anywhere in the world through card or ACH.

d.       Automate payouts to more than 80 countries across the globe.

e.       Lastly, gain access to your users’ financial accounts to receive the information necessary for a seamless transaction.

Essentially, SendCash Pay is a software that you can use to add seamless transactions to your digital products.

How can I contact SendCash?

You can contact SendCash through any of the following ways:

Website: www.sendcash.africa

Email Address: support@sendcash.africa

Also, you can contact their parent company on their official website, www.helicarrier.studio

Closing Thoughts

SendCash is a great platform for you to easily send money to Nigeria from anywhere in the world. Also, you can use your payment link to receive cash. Its transfer tracking and saving beneficiaries function also make it a good alternative to conventional bank transfers. 

Need a loan? Kindly check out this platform that allows you to compare loans from several lenders in minutes. This would help you make the best decision for you.

A sure way to access all your banking services with convenience is by using Kredi. Basically, Kredi Bank allows you to execute all your transactions from wherever you are and whenever you want. The company also guarantees you a secure and stress-free service. This solves the stressful transaction process common among conventional banks. Here is everything you need to know about Kredi and what they stand for.

KREDI- An Overview

Kredi is one of Nigeria’s leading digital banks and financial service organizations. The company focuses on responding to the need for innovative products as well as convenience. The bank was incorporated in 2010 and is powered by Kredimoney Microfinance Bank. Basically, they provide a wide range of services for corporate organizations and individuals. They have a sole aim to smoothly lead Nigerians into the digital future of banking.

Additionally, the organization is reputable for being customer-centric. They actively seek out solutions to any future problems you may encounter, while resolving your current problems. You can be sure to entrust the safety of your investment and privacy to them as measures are in place to protect your privacy.

What products does Kredi offer?

Basically, they offer three major products. Which include:

1. Kredi Savings

As the name implies, Kredi savings allows you to save your money in exchange for mouthwatering returns. It is divided into four different parts. They include:

a.       Kredi Daily Savings: 

Daily savings allows you to save money and earn returns on your savings. By contributing savings daily, your money accumulates interest and grows over time without stress.

b.       Kredi Vault: 

With Kredi Vault, you can lock your money for a specific period of time and gain interest. Basically, an automated process is set to ensure that you can lock your money with ease and enjoy maximum returns.

c.       Kredi Pot: 

This service permits you to set financial goals and targets and receive amazing interests as you save towards your goal. Your financial goals are your priorities and working towards them is a necessity.

d.       Kredi Edupot: 

Entrust the valuable future of your kids in capable hands by saving money for their education. In return, your savings accumulate interest over time.

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Get a loan up to N100,000 at the best affordable rates in Nigeria

Did you know that you can now you can compare interest rates from different lenders with our loan simulator and get the best deal? Making an informed loan decision requires comparing different loan offers before making a commitment. Through our simulator, you can see at a glance, loan offers coming from different lenders in less than 5 minutes, so you can make the right decision regarding your financing. Try it today

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2. Kredi Loans

This product offers individuals as well as businesses loans to ensure the smooth running of the business. Kredi loan is divided into four different parts. They include:

a.       Kredi SME (Small and Medium-sized enterprises) loan: 

This product allows you to take a loan for your business with no collateral. This loan can serve as funding to start, grow, rescue, and expand your business.

b.       Kredi Nano-Loan: 

Nano-loans are small, short-term loans to rescue your finances when necessary. In simpler terms, this product allows you to access as high as NGN 100,000 whether or not you earn a salary,

c.       Kredi Salary-Backed loan: 

This product is solely for salary earners. With a salary backed loan, you can access up to N5million with a repayment period of 18 months.

d.       Kredi Collateral-Backed loan: 

These loans are backed up by collateral to act as security for it. However, they also offer instant bank loans without collateral for customers.

3. Kredi Digital Banking services

The bank is automated with digital services to guarantee your convenience. With Kredi, you can easily pay your bills, top-up your airtime, fund your account as well as do a transfer seamlessly.

How can I download the Kredi app?

To download the Kredi app. Follow the steps below:

1.       Go to Google Playstore for Android or the App Store for iOs

2.       Search for Kredi and download the app

Basically, the app gives you access to all the products and services that Kredi offers.

How can I get a loan from Kredi?

To secure a loan on Kredi, follow the steps below:

1.       Download the Kredi app

2.       Create an account by registering your details with the app,

3.       Apply to get a loan through the app

With the steps above, you can get a loan from them.

How can I save my money using Kredi?

To save your money with Kredi, follow the steps below:

1.       Download and register on the Kredi app

2.       Fund your Kredi wallet by transferring cash into the wallet

3.       Kredi keeps your money safe pending when you need o to withdraw,

Also, your money will accumulate interest depending on how long you save.

How does Kredi Bank operate?

They are a digital bank that primarily works on your phone or desktop. However, they have a  physical branch In Lekki, Lagos.

How can I contact Kredi?

You can contact them through the following ways:

Address: Plot 8, Babatunde Anjous Road, Lekki Phase 1, Lagos

Phone numbers: +234 1888 5557,  +234 1888 5558

Email address: info@thekredibank.com

Website: www.thekredibank.com

Bottom line

Kredi offers you a hassle-free digital banking platform for your financial transactions. Over the years, Its reputable service shows that it is a bank you can trust. Also, the company’s no collateral loan option makes it customer-friendly. You should give them a try. Also, read some of the things you should consider before taking a loan.

Do you need a loan? Be sure to visit this loan platform that allows you to compare loans from different lenders in minutes. It offers the best and ensures that you get nothing less.

We all need a little help now and then. No one is an island, and to be honest, going far is always easier when you have support. Support and help can be quite hard to find, but sometimes there is an olive branch just waiting.

In this article, we talk about one of such olive branches; the Lagos State Employment Trust Fund, what it entails, and everything you need to know. 

What is the Lagos State Employment Trust Fund? 

Small and medium-scale enterprises or micro-businesses can find it difficult to stay afloat. Whether it is cash flow problems or the inability to break even, the challenges they face are many. In recognition of this, they set the Lagos State Employment Trust Fund up. 

Also, read more on Federal government loans for small businesses in Nigeria.

The primary aim of the LSETF

The Lagos State Employment Trust Fund (LSETF) is an initiative set up by the Lagos State Government. The initiative is an extension of the government’s will and desire to grow and develop the economy of Lagos by providing access to financial help to small, medium-scale enterprises and micro-businesses that have the state as their base of operations.

The enterprise provides loans to startups, small and medium-scale enterprises, or to sustain existing ones. Recognizing the scarcity of white-collar opportunities, and the resulting increase in unemployment, the LSETF seeks to combat this negative trend by helping keep alternative means of employment alive. 

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Get a loan up to N100,000 at the best affordable rates in Nigeria

Did you know that you can now you can compare interest rates from different lenders with our loan simulator and get the best deal? Making an informed loan decision requires comparing different loan offers before making a commitment. Through our simulator, you can see at a glance, loan offers coming from different lenders in less than 5 minutes, so you can make the right decision regarding your financing. Try it today

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How much is available in the Lagos State Employment Trust Fund?

Micro businesses are eligible to get amounts up to N500,000 in loans at 5% interest rate per annum. Also, small and medium-scale enterprises can get amounts of up to N5,000,000 in loans.

How much interest is charged on the Lagos State Employment Trust Fund? 

Microbusinesses can get up to N500,000 at an interest rate of 5 percent per annum.  They charge the same 5 percent interest on loans given to small and medium-scale enterprises. 

Pros and Cons of the LSETF

The pros of the LSETF are that it is a low interest loan, and it offers a high loan amount. However, its major con is that they only restrict it to Lagos State. 

Eligibility requirements for the Lagos State Employment Trust Fund

These are the requirements that render you and your business eligible for the LSETF

You need the following;

1. Government Identification
2. Notarized Guarantor Forms
3. LASRRA (Lagos State Residents Registration Agency) Certificate and Tax Identification Number
4. Training Certificate
5. Passport photographs
6. Evidence that you have incorporated your company with the corporate affairs commission. Your CAC Certificate.

You can also find out where to get loans in Lagos here.

CONCLUSION

If you’re looking to start your own business or you’re looking to grow and sustain it, an influx of cash is enough to settle those needs. Start-Up loans from the government like the LSETF are a significant source of financial help.

Start or grow your own business with the help of a government-backed Start Up Loan and free business support. A great alternative for individuals looking for business loans to fund their start up. 

Seeking business support through loans? Then you should consider the Lagos State Employment Trust Fund.

You can obtain a comprehensive loan, tailored to your specific needs by using this platform. Basically, it allows you to compare loans from different lenders across Africa, ensuring the best option doesn’t slip through.

As one of the leading Microfinance banks in Nigeria, one of the major objectives of NFMB is to make its services easily accessible to its customers. On this note, they design the Nirsal Microfinance mobile banking application.

As an existing or prospective customer, this mobile application will provide you with an entirely different and more exciting banking experience. Furthermore, it will also afford you the luxury of being able to access NMFB banking services anywhere you are and at any time. In addition, you will also have access to lots of self-service functionalities and other exciting features. The user interface of the Nirsal Microfinance bank App is amazing. In fact, we can assure you of an amazing user experience.

App Information:

Here is the Nirsal Microfinance Bank App information, as of March 27^th, 2020:

• Version: 1.0
• Last Updated: 2^nd April 2020
• Downloads: 100,000+
• Download size: 16.00mb
• Offered by: NIRSAL MICROFINANCE BANK
• App Release date: April, 2^nd 2020.

What are the exciting features of the Nirsal Microfinance Bank App?

Here are some of the amazing features of the NMFB mobile banking application:

• The self-registration option. This is with a NMFB account number and your registered phone number.
• Faster Login with a fingerprint. (This option is only available on fingerprint enabled mobile devices)
• Self-service options for transaction limit increase
• The mobile app allows you to initiate transfers to other NMFB accounts
• You can open an account using the app
• Initiate transfers to other accounts
• Buy airtime and data for friends and families

To carry out any of these transactions, all you have to do is simply login to the application, and select the transaction you wish to perform. They design the User interface of the Nirsal Microfinance Bank App with an amateur in mind, you will definitely find your way around the first time.

How do I register on the Nirsal Microfinance Bank App?

Nirsal Microfinance Bank has made banking very simple for all users of its app. In fact, the registration process for both new and existing customers is seamless and hassle-free. To register for the Nirsal Microfinance mobile app, here are the steps to follow:

For Existing NMFB account Holders

If you have an account with NMFB kindly follow these procedures:

• Download the mobile application on Google play store if you use an Android, and App store for iPhone users
• Click on the Sign Up button
• After this, enter your NIRSAL MFB account number as your username and your registered mobile number
• Click on the Register button
• After you must have successfully done this, follow the preceding prompt, this is to generate a PIN and password

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Get a loan up to N100,000 at the best affordable rates in Nigeria

Did you know that you can now you can compare interest rates from different lenders with our loan simulator and get the best deal? Making an informed loan decision requires comparing different loan offers before making a commitment. Through our simulator, you can see at a glance, loan offers coming from different lenders in less than 5 minutes, so you can make the right decision regarding your financing. Try it today

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Prospective users without account numbers

If you do not have an account with Nirsal Microfinance Bank, you can leverage the following:

• Download the mobile application on Google play store if you use an Android, and App store for iPhone users
• Click on the Login Button
• Next up, Click on the Open Account
• Follow the preceding prompt to complete your registration process

Frequently Asked Questions

Some of the most frequently asked questions include:

Which bank gives personal loans easily?

Most Nigerian banks have more than average requirements for those looking to apply for substantial loans. However, options like personal or payday loans are more accessible. Some of the banks that offer this include Access Bank, Zenith Bank, GTCO, and Polaris Bank.

Loanspotafrica on the other hand allows you access to substantial loans at much lesser requirements. All you need to do is register, supply your bank details and receive your loan. 

What do banks check before giving a loan?

Most banks start by checking your credit rating and history. Depending on how shinny or poor it is, they then make a decision on your loan application. However, they also consider other factors like your income, place of work, assets, net worth, and more. The exact parameters they consider varies from one bank to another. 

If you’re in need of a platform to get loans without difficult checks, then loanspotafrica is your go-to spot. They offer legit loans with one of the most minimal background checks and qualifications. 

How do I convince a bank to get a loan?

You cannot exactly convince a bank to give you a loan. This is because each loan product usually has minimum requirements that you must meet in order to be successful in your application. Most times, except you’re of high net worth or have valuable collaterals to lay down as part of the bargaining chip, you can’t exactly convince a bank to give you loans. On the bright side, you do not need to do any convincing at all with loanspotafrica as they offer one of the easiest loans to access.

Conclusion:

The Nirsal Microfinance Bank App is your perfect help in times of need for a seamless and hassle-free transaction process. You can carry out multiple banking transactions all at the command of your fingertips. Also, you will find the app easy to use and it is user-friendly. See how to get the Central Bank of Nigeria Loan.

Do you need a loan? Be sure to visit this loan platform that allows you to compare loans from different lenders in minutes. It offers the best and ensures that you get nothing less.

The Nigerian government has continued to foster an enabling environment for the farming sector. In recent times the emergence of the agrotech industry has extended the opportunities of agriculture to more people who are willing to invest in the agricultural sector.

Despite government efforts as well as improved investment opportunities in the agricultural sector, many farmers and investors still have challenges accessing agricultural loans in Nigeria. Given this problem, we have highlighted a few ways you can access an agricultural loan in Nigeria below.

FEDERAL GOVERNMENT LOANS

The currently available federal government loans include:

1. CENTRAL BANK OF NIGERIA (CBN)

CBN provides loans for existing and intending farmers at a low annual interest rate. In the last decade, the CBN has injected over 100b into the agricultural sector and has made the fund available to all states through the Bank of Agriculture and other commercial banks

These are the kind of loans the CBN offers to farmers and investors alike

2. THE COMMERCIAL AGRICULTURE CREDIT SCHEME

The Commercial Agriculture Credit Scheme was established in 2009 to speed up the development of the agricultural sector; enhance national food security; reduce the cost of credit in agricultural production. Many commercial banks have access to this scheme and give loans at a maximum of 9% interest rate. The fund is also available to state governments for on-lending to farmers.  

To be eligible for this agric loan, you’ll have to partake in this produce:

Livestock, Cash crops, food crops, poultry, aquaculture, processing, marketing, storage of agrochemicals, and supplies of farm input.

3. REAL SECTOR SUPPORT FACILITY

This is another initiative of the Central Bank of Nigeria. The Facility will support large enterprises for startups and expansion financing needs of N500 million up to a maximum of N10. 0 billion.

One of the real sectors being targeted is the agricultural sector, and farmers and investors can take advantage of that.

The tenure of the loan is up to 15 years, and the interest rate is quite low. The basic requirements to access this type of loan are;

• A business plan
• Certificate of incorporation
• Apply formally
• Memorandum and Article of Association

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4. MICRO SME DEVELOPMENT FUND

On August 15, 2013, the CBN launched the MSME Development Fund, with a share capital of N220 billion. 90% of the fund was made available to Participating Financial Institutions-PFIs- at 2% for on-lending to MSMEs at a maximum interest rate of about 9% per annum.

One of the eligible beneficiaries of this fund is farmers and investors in the agricultural sector. So if you need a credit facility to expand your agri-business, this could help.

5. Bank Of Agriculture (BOA)

Formerly Nigerian Agricultural Bank and incorporated in 1972, The Bank Of Agriculture has evolved over the years in its service to the agricultural sector. The federal government of Nigeria owns it while the Federal Ministry of Finance CBN is an investor.

To get access to this loan, you’ll need the following essentials:

• Present a complete plan for your business
• Have available, a 20% partial payment of the loan.
• You should have at least a six-month relationship with the bank in terms of making payments into your account no matter how small
• Also, you need to provide evidence of a physical collateral

BANK OF AGRICULTURE PRODUCTS

• Micro Credit loans
• Grow and earn more-(gem)
• Loan application for SME (Individuals)
• Lastly, loans from commercial banks:

6. Private And Non-government Organisation Commercial Banks

Another source of funding is from commercial banks, and they can offer you loans based on your preference. They have long, short, and medium-term loans infused into different products. Basically, these loan products have different criteria, and some are unique to the institutions offering them. Examples of such banks include First Bank, Access Bank, Stanbic IBTC, Union, and UBA.

The basic requirements for obtaining a loan from any commercial bank may vary, and they include the following but are not limited to;

• You should have an existing account with any of them.
• You’ll be required to apply and then present an application for the loan
• You should have made a 10% partial payment of the loan.
• Collateral will have to be presented.
• Lastly, present a complete plan of your business along with a business’ viability study.

7. Agricultural Co-operative Societies

If you are part of any co-operatives, there is a great chance of receiving grants provided by some banks.

Here are the requirements:

• Be a member of one of the co-operatives
• Apply to the bank with the letterhead of the co-operative which appended by one of its representatives
• Lastly, you need to present a viability study on the business plan

If you don’t know which co-operative to join, here are some:

• All Farmers Association of Nigeria (AFAN);
• Youth Empowerment in the Agricultural Program (YEAP);
• Also, FADAMA

Farmers and Agricultural SMEs also have access to lenders focused on agricultural loans to help take their business to the next stage.

Conclusion

These ways to get access to agric loans in Nigeria will be perfect for Nigerians that want to either start up a business in agriculture or expand their existing operations.

Do you need a loan? Be sure to visit this loan platform that allows you to compare loans from different lenders in minutes. It offers the best and ensures that you get nothing less.

Most SMEs in a country like Nigeria, do not meet the commercial bank requirements to receive certain loan amounts. This, for a long time, made them stuck at certain levels of operation until the emergence of microfinance banks. Addosser Microfinance bank is one of the institutions that is dedicated to providing loans for SMEs and individuals in the country. If you are in either category, read on to find out everything you should know about Addosser Microfinance bank.

About Addosser Microfinance bank

Incorporated on the 27^th of May 2008, Addosser Microfinance bank has played a major role in expanding the financial options of SMEs. In the last decade, they have provided an excess of N36 billion loans to businesses all over the country. Beyond a doubt, Addosser Microfinance bank is one of the leading microfinance banks in Nigeria.

They are managed by a board filled with personnel with decades of experience in the banking industry and have over 300 employees. Also, at the time of this writing, Addosser Microfinance bank currently serves over 84,000 customers across distinct business groups. Also, read more on microfinance banks in Nigeria here.

What services does Addosser Microfinance bank offer?

Addosser Microfinance bank offers majorly two services to customers. They are:

1. Loans: 

addosser loan services offer businesses and individuals a way to obtain money upfront and pay it back over time. This loan service is further divided into the following categories:

a. Retail and micro enterprise banking group: 

Basically, the retail and micro enterprise banking group focuses on micro entrepreneurs and individuals who are in the economically poor category. It offers loan as a way out, to ease immediate financial responsibilities. The available loans under this group are:

• Traders loan
• Festival loan
• Micro loan
• Group loan
• Lastly, widows umbrella        

In addition, to find out details about each loan and their respective requirements, follow this link to their official website: https://addosser.com/services/retail-micro-enterprise-banking-group/

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b. Consumer banking group: 

this group goes a step further from the economically poor to the low to middle income salary earners. It is only available to staff of reputable institutions. The available loans under this group are:

• Salary advance
• Pay my rent
• Also, consumer swift lease
• Back-2-School
• Lastly, vacation loan

In addition, to find out details about each loan and their respective requirements, follow this link to their official website: https://addosser.com/services/consumer-banking-group/

Read more on how to apply for microfinance bank loans in Nigeria.

2. Savings and deposit:

although they primarily focus on loan as a microfinance bank, Addosser also offers savings and deposit options like regular commercial banks. The available products under this service are the Addosser:

• Regular savings account (ARSA)
• Future target account (AFTA)
• Also, Junior active savings account (AJASA)
• Business savings account (ABSA)
• Current account
• Lastly, fixed deposit account

How can I apply for Addosser microfinance bank loan?

To apply for their loan, simply walk into any of their offices, and an agent would attend to you. However, it is important that you browse their website beforehand to know what you want and the requirements for it. Also, you can contact the bank ahead through any of the contacts means in the next subheading.

How can I contact Addosser Microfinance bank?

You can contact Addosser Microfinance bank through any of the following means:

Headquarters Address: 32 Lewis Street, Lagos Island, Lagos. To find the nearest branch to you, visit their official website (https://addosser.com) as it contains a list of all their branches.

Phone: +234-9087013749, +234-8140437926

Email: customercare@addosser.com

You can also use the request for a callback option that is available on the home page of their website. Simply visit https://addosser.com/ and supply the requested details. An agent would reach out to you soonest. Also, view the complete list of microfinance banks in Lagos, Nigeria.

Conclusion

Basically, Addosser Microfinance bank offers a wide range of loan services that cover all your business and personal needs. Also, their loans come with flexible arrangements, depending on the type and amount of loan in question. Get started by visiting their official website or walking into any official outlets today. 

You can obtain a comprehensive loan, tailored to your specific needs by using this platform. Basically, it allows you to compare loans from different lenders across Africa, ensuring the best option doesn’t slip through.

Lotus Bank is a customer-centric financial institution that offers financial services as well as professional customer service. The bank aims to provide an alternative to interest-based banking. Also, it aims to cover the needs of both the banked and the underbanked population in Nigeria. Here’s everything you need to know about Lotus Bank.

An overview of Lotus Bank 

Lotus Bank is a privately held financial institution founded in 2007. The bank is a non-interest Nigerian bank noted for ethical banking and investing. A non-interest bank is a bank that operates on a zero interest rate. 

Lotus bank specialises in business/commercial lending, professional customer service, mortgage lending as well as full-service banking. Before 2015, Lotus bank was a full-service bank providing banking services to help individuals attain their financial goals. However, it became a subsidiary of Level One Bank in 2015. A Level One Bank is a full-service consumer and commercial bank that aims to strengthen communities and build quality relationships with clients.

What service does Lotus Bank offer?

Lotus Bank offers a wide range of services. They include:

1. Smart Banking

Basically, Lotus smart banking is USSD Banking. To opt for Smart Banking, simply dial *5045# and register on your phone. Thereafter, you can execute 90% of your transactions conveniently without airtime or data. Some important features of Smart banking include:

• To check your balance enquiry, dial *5045*5*1#
• For transfering money from Lotus to other banks, dial *5045*3*amount*account number#
• Also, to buy airtime for yourself, dial *5045*amount#
• Purchase airtime for others by dailing *5045*amount*phone number#
• To buy data, dial *5045*2#
• Lastly, to make a money transfer from Lotus to Lotus, dial *5045*amount*account number#

2. E-solution and services

The E-solution involves the electronic services that Lotus offers. They include:

a. Point of sale terminal: 

With Lotus POS terminal, merchants are 100% safe and secure with their payment processing. Some of its features and benefits include:

• It specialises in collections management services 
• You get instant value for every payment you make.
• It reduces cash handling charges
• Lotus POS eliminates the stress of clearing and confirming cheques.

 What is the requirement to be eligible for Lotus POS?

To be eligible for Lotus POS, you must have a Lotus current or savings account. Basically, this means you have to open an account and actively bank with Lotus.

How can I apply for a Lotus POS?

To apply for a Lotus POS, follow the steps below:

• Download the POS enrollment form from Lotus Bank official website, www.Lotusbank.com
• Fill in your details on the enrollment form
• Lastly, visit any branch near you to complete the process.

b. Merchant Payment/settlements

Merchant settlements are transactions the bank completes a day after the transaction date. Usually, Lotus bank attends to transactions you execute on Fridays and weekends on Monday. 

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3. E-Naira

E-Naira is the official digital currency for Nigerians. The Central Bank of Nigeria issued it as a legal tender. It is the Naira in digital form and you can use it just like cash. The E-Naira uses block chain technology and has the same value as the Fiat Naira. This digital currency assures you a faster, secure and convenient means of transaction. The app will soon be available on the play store for Android and App Store for IOS devices.

4. PTA/BTA

Lotus bank provides you with foreign exchange for your foreign transactions. These transactions include your Personal and Business travels, payment for foreign education, medical expenses, and other invisible transactions. However, you can only use the PTA/BTA services for legitimate travel purposes. Read more about travel loans here.

What are the terms and conditions of the Lotus PTA/BTA service?

Below are the terms and conditions of the PTA/BTA service:

• Your travel documents must be valid
• You can only apply for this service once a quarter.
• The bank prohibits application on behalf of a third party. Also, you must be 18 years and above to apply.
• You have to return unused PTA/BTA to the bank within 2weeks of the initial purchase.
• Lastly, you must not use fake documents to apply.

How can I apply for PTA/BTA?

To apply for this service, follow the steps below:

• Go to Lotus website, www.lotusbank.com
• Click on the ‘services’ toolbar 
• Click on PTA/BTA 
• Thereafter, fill the form with your details and submit it.

How can I open a Lotus Bank account?

To open a Lotus Bank account, follow the steps:

• Login to Lotus website, www.lotusbank.com
• Click on the ‘Become a customer’ toolbar
• Lastly, Fill in and submit the online account opening form

Where can I download the Lotus Mobile Banking app?

You can download the Lotus Bank app on google play store for Android and App Store for IOS. With the app, you can make transactions seamlessly and conveniently. Also, you can open an account, make money transactions and pay bills on the app.

How can I contact Lotus Bank?

You can contact Lotus through any of the means below:

Phone Number: 0700 56887 2265, 0700 0100 0000

email address: support@lotusbank.com

Address: 30a, Adetokunbo Ademola Street, Victoria Island, Lagos.

Website: www.lotusbank.com

Conclusion 

Lotus bank is a financial institution that combines ethics with commercial banking services. Also, the bank is known for having zero interest rates on transactions. They provide quick, easy, and seamless service to ensure maximum satisfaction for you.

Do you need a loan? Be sure to visit this loan platform that allows you to compare loans from different lenders in minutes. It offers the best and ensures that you get nothing less.