The constant thing in life they say, is, CHANGE. There are loads of unpredictable, unexpected situations life could throw at someone. When this happens, help is inevitable.
Meanwhile, how and where the assistance is gotten is also as important as the help itself. Let’s take an example of Mr. Martins, a small business owner in Lagos. Mr. Martins, a tyre dealer in one of the markets in a suburb area of Lagos State, has a loyal customer base but has been struggling to expand his business due to a lack of funds. Mr. Martins has been turned down by multiple Loan Companies because of his lack of ‘DOCUMENTATIONS’. The effect of rejection by many lenders soon became a source of concern for him. Mr. Martins inability to expand and meet up with customer’s demands drove some of his customer’s away. The sad thing is that this is not limited to him alone. Many small business owners in Nigeria face similar challenges when it comes to accessing credit. But thanks to the efforts of a Lender like KwikPay Credit, who was able to help put Mr. Martins’ documentation in order and grant him a loan which he judiciously use to revive his dying business.
As a small business owner in Nigeria, access to credit can be a major challenge. The requirements by some of the lenders can be difficult for many MSMEs (Micro, Small, and Medium Enterprises) to provide. But services like KwikPay Credit are changing this narrative.
How? By making the necessary requirements borrowers need to access a loan, based on the borrower’s level, less burdensome. KwikPay Credit helps to finance your business and you pay us back in installments.
Major Use of Business Loans by MSME in Nigeria.
1. To purchase raw materials and inventory to meet increasing demand
2. To expand the operations of the business i.e. employ new resources, open additional branches to take advantage of demands, etc.
3. To buy new or upgrade equipment
4. For working capital purposes.
What are the benefits of using KwikPay Credit?
1. A flexible loan amount.
2. You can get approval in minutes which is really helpful in cases of emergency
3. Flexible repayment tenure
4. For a salary earner, with a side business, your net income and those from the side hustle (business) are used to determine your loan amount so that you can borrow within your financial limit
5. No application fees.
6. No admin fees and
7. No collateral is needed.
8. There are no hidden fees.
9. Interest rates are communicated upfront.
10. The repayment process is very easy. The payment is taken directly from your bank on the specified date or by using pre-written and pre-signed cheques/ mandate provided at the time of application. The cheques / Mandate will only be paid or activated on the date agreed on. Also, a reminder via email and phone calls at least three days before the repayment is due.
How to apply for KwikPay Loan
1. Must be over 18 years of age, be employed, and have a Nigerian bank account
2. Online application form
3. Employment ID and valid means of identification (passport, driver’s license, national ID, etc.)
4. Credit checks (If you’ve taken any loans prior to this at any financial institution in Nigeria, the repayment of these loans are factored in)
5. A guarantor may be needed (this is dependent on the loan amount)
Conclusion
KwikPay Credit is an easy and available option when unplanned financial commitments occur. The process is available 24/7 online and approval and disbursements are done within minutes.
To get more information about the process and any other questions you may have, you can visit our website at www.kwikpaycredit.com or send an email to us at [email protected]. Bear in mind that we have agents at the loan spot who are also willing to help you through the process. Click here to reach out to us!
KwikPay Credit is the trading style of Trafalgar Associates Limited, a licensed and registered digital lender with the Federal Government of Nigeria’s FCCPC, and a member of the Money Lenders Association.
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