5 lending business activities to monitor daily
There are key lending business activities to monitor to ensure your lending business is on the right track. Generate reports of these activities and review them daily for best results. Lending is serious and sensitive business and must be conducted with the utmost attention to details. The last thing you want is to have put […]
How to obtain a moneylenders’ license in Nigeria
Now that you have succeeded in your building efforts so far, you mustn’t forget the final hurdle. You need a moneylenders license to operate your lending business in Nigeria.
How to start lending for free with Lendsqr
A typical state lender who has about N20 million capital is targeting the working class Nigeria, targeting loan sizes of N30,000 to N150,000. Knowing they stand no chance of growing the business if they demand their borrowers come to an office, they invariably would need technology, such as a mobile or website, to reach their […]
Are lenders evil for charging high interest rates?
The average lender today would typically charge 4% — 10% per month (48% — 120% per year) on a loan. Whoa. Does it make you wonder how they are able to recover loans with these rates? What probably immediately comes to mind is how crazy and horrible these rates are and that there is no […]
Lendsqr’s guide to responsible lending
Credit is one of the surest ways to grow an economy and bring smiles to the faces of small business owners, artisans trying to finish a supply, and fathers trying to provide for their families. If you’re a lender reading this, you’re probably thinking you made the right decision choosing this line of business right? […]
Tell your lending story. Win N50,000! 🏆
We can bet that you will have at least one great lending story. Tell us today, win N50,000.
How big is the addressable market for consumer loan in Nigeria?
Nigeria's 200 million population offers a vast potential for consumer loans. This guide explores strategies to tap into this market.
Lenders battle against fraudsters; a case for an industry blacklist
In Kenya, the lenders battle against fraudsters with an estimated 3.2 million people have been blacklisted on Kenya’s TransUnion credit reference bureau.
Why Nigerian banks will never win the consumer credit game
Consumer lending is basically loans to individuals, like me and you, to purchase goods and services. Of the forms of consumer lending, credit cards are perhaps the most popular. Yet, if you’re a Nigerian reading this, that last sentence is not very relatable, mostly because not only is consumer lending uncommon in Nigeria, credit card […]
Nigeria’s problems will be solved by access to credit
Access to credit has historically been difficult in Nigeria. This is because, for years, big banks were the sole providers of financial services and those banks didn’t care too much for retail banking.
What are payday loans and how to make the best of them?
When emergencies strike and funds are needed, it is often difficult to know where to turn. As a Nigerian, it can be quite difficult to save for rainy days, as every day is well…quite rainy. This means that at the same time, family and friends may not be able to help you out of such […]
