Lendsqr teams up with Freshworks, offering $10k credit to startup lenders
Lendsqr has partnered with Freshworks to bring advanced back-office tools that make it easier to deliver a seamless customer and employee management experience.
Why using bank statements is important for loan decisions
Perhaps the greatest head-scratcher for lenders is the fact that an average Nigerian doesn’t have a credit report (yikes!) but bank statements have proven to be a solid tool for assessing a borrower’s capacity to take a loan. Sometimes, it may even be a means of assessing their character as well (Interesting right? Stay tuned). […]
Hurdles to scale to become a lender
Lending is a profitable business and is probably as old as time itself. Lending has subsequently evolved into fintech, which when done well, grows faster and attracts significant valuations than traditional banks. But lending is a tough business and those who do it deserve special praises and sometimes even prayers; they help the sick get […]
Lendsqr and Mono partner to power the next generation of lenders
Most Nigerians don’t have a credit history which affects lenders’ ability to assess loan applications and hence, limits borrowers’ access to credit. However, Lendsqr has partnered with Mono to provide lenders with customers’ bank statement data which assists them in making better informed decisions about borrowers’ capacity to repay their loans. Access to credit is […]
A borrower’s right to data privacy is not negotiable
Nothing gets your heart racing several miles per minute like the chance that you may not recover your loans right?
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?
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.
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 […]
