Ethical ways to recover loans
Growth marketing

Ethical ways to recover loans

A not-so-fun fact you need to know about running a lending business is that the biggest challenge every Nigerian lender faces is not technology, capital or regulatory constraints, but how to recover loans and the scary fact is that Nigerians don’t pay back their loans. While one might be tempted to sympathize and assume that […]

Are lenders evil for charging high interest rates?
Lending

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
Information

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! 🏆
How to

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?
Lending

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.

We built Lendsqr to innovate affordable credit for all
Company

We built Lendsqr to innovate affordable credit for all

There’s no shortage of research to show how crucial consumer credit is to the average Nigerian and the economy as a whole. But we like to think of credit from how it affects people and it is often the one tool people use to deal with economic shocks. In Nigeria, those economic shocks can be […]

Lenders battle against fraudsters; a case for an industry blacklist
Lending

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
Lending

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
Lending

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.

Make Better Informed Decisions

Our decision model Oraculi helps you handle all modules required to form the decision model for your lending business, convenient and easy.

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What are payday loans and how to make the best of them?
Lending

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 […]

Word on the street: Loans are bad! Maybe not
Lending

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
Lending

Why Nigerians don’t pay their loans

The frustration that comes from not being able to recover your money because 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 […]