Lendsqr launches affordable digital lending tech to expand credit access in Sierra Leone

August 26, 2025 | Freetown, Sierra Leone – Lendsqr, the global Lending-as-a-Service (LaaS) platform empowering lenders to build, scale, and manage digital credit offerings, has launched its affordable digital lending technology in Sierra Leone, making it easier for institutions to extend credit to individuals and businesses traditionally excluded from formal finance.

Access to credit in Sierra Leone remains critically low: only 4.3% of adults borrowed from a formal financial institution in the past year. Meanwhile, less than 20% of adults have a formal account with a bank or mobile-money provider, with just 12.4% holding a financial institution account. High infrastructure and technology costs, plus manual lending processes, leave much of the population underserved.

“Credit should be accessible to all, not just the few,” said Adedeji Olowe, CEO of Lendsqr. “By bringing enterprise-grade lending tech to Sierra Leone at an affordable cost, we’re empowering small lenders to serve traders in Freetown or farmers in Bo with the same efficiency as major banks, helping close the massive inclusion gap.”

Lendsqr’s platform enables lenders to design loan products, onboard customers digitally, run instant credit scoring, and manage repayments all from one system. It also supports integration with payment platforms, identity verification providers, and local credit bureaus, helping lenders reduce risk and expand outreach.

Why this matters for lenders in Sierra Leone

Microfinance institutions, cooperatives, and community banks in Sierra Leone typically lack access to modern lending infrastructure due to cost constraints. Lendsqr removes that barrier by offering robust digital infrastructure at a fraction of traditional costs. This empowers lenders to scale operations, speed loan approvals, and reduce overheads, while maintaining compliance and security.

“This isn’t watered-down software,” Olowe added. “It’s the same infrastructure powering top fintechs and banks across Africa, now made affordable for all lenders in Sierra Leone aiming to grow sustainably.”

About Lendsqr

Lendsqr is a global Lending-as-a-Service (Laa) company powering digital lending for banks, fintechs, cooperatives, and non-profits. With offices in Wilmington (United States), London (UK), Lagos (Nigeria), and Trinidad, the platform supports both online and offline lending, which is helpful for markets with low internet penetration. Lenders can design loan products, onboard digitally, make automated credit decisions, and manage repayments all with quick setup and a free trial.

Lenders in Sierra Leone can sign up today for free at lendsqr.com and start offering digital loans immediately.For more information, contact marketing@lendsqr.com.