Word on the street: Loans are bad! Maybe not
The Nigerian’s perception of loans can be likened to the human’s fear of wild animals; scary! Okay, maybe that analogy is layered a little too thick, but you must agree that Nigerians hate loans which is ironic because when they eventually get them, they never payback. To the crux of the matter, why do loans have […]
Why Nigerians don’t pay their loans
That Nigerians don’t pay back their loans on time isn’t up for debate, after all, we all get replete with stories of the high and mighty, and the not so mighty, dragging it out with banks regarding bad loans. “The Nigerian attitude to debt is curious and nowhere could this have been better demonstrated than […]
How Blocka Cash got its lending groove
Blocka Cash is one of the fastest growing and the easiest digital lenders in Nigeria with a clear ambition to become the lender of choice in a market where over N74 trillion of credit gap is a perennial problem. The Blocka Cash team set out to rewrite the rules of the game by removing the hurdles that […]
Lending as a side hustle: What I need to know
So, you want to branch out and earn some extra cash on the side. Becoming a small-scale lender might not have been the first idea on your list. It might not have even been the tenth. Maybe you’re on this page out of curiosity. You might even have clicked on that link just so you […]
Why you need technology to scale your lending business
We’re in an age where technology shapes our lives. Technology impacts almost every sector of human life and businesses are not excluded. Today, technology is causing a revolution in the lending industry. For a long time, before technology improved the Fintech industry, banks were the known lending channels. But getting a loan from a bank […]
5 Tips that can help you become a more efficient lender
Too many people start a business without considering obtaining skills that’ll help the business succeed. The requirement goes beyond dedication to sustain a successful business. You can achieve business success by planning out all the necessary steps you need to achieve success. According to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first […]
Why You Should Invest in a Lending Business
Would you be interested to make extra cash, borrowing out some of your excess funds to individuals? If yes, then you should consider investing in a lending business; popularly known as consumer lending. The lending business is on the rise as there are platforms that are now built to provide opportunities to individuals who want […]
How to Sell Your Loan Products
In our posts on getting your lending business up and running, we mentioned that the next step after creating your loan products was to invite borrowers to view and apply for them. In this post, we will be talking a bit about that process, which is really all about “selling” your loan products. In that post, we also […]
Wonder what types of loans exist? We’ve broken them down for you.
Now that you’ve decided to start your lending business, the next thing to do is, well, get to know the business! The first thing to learn about is the different types of loans that you can offer. There are many different types of loans so you can tailor your loan products to suit you and […]
Five Reasons Why You Should Embrace the “Sharing Economy” Today
You may have heard countless times, the phrase “sharing economy.” It’s basically an umbrella term coined to describe social and economic activity of the new age. It is an economic system in which assets or services are shared between private individuals, either free or for a fee, typically by means of the Internet. As a […]