Why using bank statements is important for loan decisions
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).
Lenders battle against fraudsters; a case for an industry blacklist
As digital lending surges in Nigeria, fraud has quietly become one of the industry’s biggest threats, with coordinated identity theft and serial loan defaulters overwhelming individual lenders who battle in isolation. The danger isn’t unique. Kenya offers a stark warning, with an estimated 3.2 million people blacklisted on the country’s TransUnion credit bureau. Without a unified industry blacklist to identify and curb repeat offenders, Nigerian lenders risk following the same path, continually staying several steps behind increasingly sophisticated fraudsters.
Lending as a side hustle: What I need to know
So, you want to branch out and earn some extra cash on the side. Becoming a small-scale lender might not have been the first idea on your list. Whatever your story is, the important thing is that you’re here to learn about lending as a side hustle
A guide to promoting your lending business using digital channels
Promoting a lending business today requires more than word-of-mouth or traditional advertising. With more borrowers searching for financial services online, digital channels such as social media, search engines, and email have become essential for reaching the right audience. When used effectively, these platforms help lenders build trust, increase visibility, and connect with potential borrowers at scale. This guide explores practical ways lenders can use digital channels to grow their reach and attract more customers.
Invest in a lending business: Why and how to make profit from it
If you are interested in making extra cash by borrowing out some of your excess funds to individuals, then you consider investing in a lending business
How to sell your loan products
In our posts on getting your lending business up and running, we mentioned that the next step after creating your loan products was to invite borrowers to view and apply for them. In this post, we will be talking a bit about that process, which is really all about “selling” your loan products.
Wonder what types of loans exist? We’ve broken them down for you
As a new lender, the most important information you will seek to find out is knowing what types of loans exists and what loans you can offer.
