What really happens when a business defaults on a loan?
Defaulting on a loan is a stressful milestone for any business owner, but understanding the timeline can help you navigate the fallout.
Ethical ways to recover loans
Recovering loans ethically is one of the toughest challenges Nigerian lenders face. Contrary to common assumptions, the biggest obstacle isn’t funding, technology, or regulation, it’s the alarming reality that many Nigerians simply don’t pay back their loans. While financial hardship plays a part, a significant number of borrowers are willfully reluctant to repay. This article explores ethical, effective strategies lenders can use to recover loans without resorting to harassment or illegal practices.
How to set up CreditRegistry on Lendsqr
Fortunately, Lendsqr is fully integrated with the key credit bureaus across Africa — CRC, CreditRegistry, TransUnion, and FirstCentral, and you can get access to millions of data to help you make smarter credit decisions in a matter of minutes.