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 prospective customer base.
Knowing you need technology is one thing, being able to build and launch is another. This is usually the Waterloo for most lenders. They fall prey to sweet and fast-talking script kiddies, who know next to nothing about loans and their nuances.
That’s where Lendsqr comes in. We provide the tools and expertise to help you lend with Lendsqr and avoid the common pitfalls, so you can focus on growing your customer base and building a successful lending business.
Lendsqr has developed a self-onboarding process through which lenders can sign up and get a free web app in 5 minutes. It costs all of N0, and lenders are able to save their capital to be able to give almost all of it in loans to generate revenue.
Step 3: Fill in all the required information: Personal details, business information, bank details
Step 4: Click on “Complete profile”
Step 5: Quickly create loan products and set up decision criteria
And voila! You’re all set. You, too are now a proud owner of a new lending app.
Once you’re all set up on the web, it’s time to let your customers discover your app. You can share your web app URL with customers right away; the app can be used from a desktop or mobile phone (mobile responsive).
Also, setting up a new web app with Lendsqr doesn’t mean you lose your existing customers. If you have an existing client list with emails and phone numbers, you can upload these contacts onto the Lendsqr platform and automatically send loan invites to your customers (Neat!)
Your web app acts almost like a digital bank and can do what most banking apps do. The core of their functionality is that your customers can apply for loans seamlessly with a fully automated loan process.
Your customers can also on the web app update their profiles, withdraw loans from their wallet, view their transactions and loan history, and furthermore, refer friends, all on the web app.
Additionally, you’ll never be too far from your customers with the in-app chat function also available on the web app. Lendsqr has partnered with Freshworks to give you up to $10,000 credit on the customer support platform so you are only ever a click away from your customers.
If you’re a non-profit or development finance institution (DFI), it should be easier to run a lending program if you're already doing the hard part of reaching people most others won’t.
So what is Lendsqr, and how does it work? What makes Lendsqr the go-to platform for lending? Explore its key features and how they can help you build a thriving loan business.
The end-to-end loan management software that’s rewriting the rules for lenders globally by offering enterprise-grade features without the enterprise-grade costs.
