Olamide Famuwagun

Due to the state of Nigeria’s economy, a lot of people lack the finances to access the necessities of life. In a quest to make ends meet, many people go as far as taking huge loans. These loans are sometimes unrepayable and may cause them to go into permanent debt. Fortunately, CreditClan solves this problem by providing a platform that allows people to access services on credit. Below is a summary of everything you need to know about the company.

An Overview of CreditClan

Creditclan is a privately held fintech company founded in 2018. The company helps businesses, banks, and merchants to provide credit to individuals across Africa. The company provides an omnichannel, which simplifies collection solutions, credits, and credibility in a way that is easy for merchants and financial institutions to leverage for scale and engage their customers.           

Essentially, the company’s platform allows you to obtain service on credit and pay later. A group of experts who are experienced in technology, risk management, data science, finance as well as customer experience manages and drives the organization. CreditClan is one of the companies that offer loans with no credit. Read more on how to get a loan with no credit in Nigeria here.

What are the services that Creditclan offers?

The platform provides services for schools, merchants, and finance partners. They include:

1. For merchants

The platform helps merchants across Africa to sell their goods on credit. Basically, it allows you to pull goods from other platforms you sell on and offer to your customers who will pay in installments. To access this service, all you need to do is to create an account as a merchant on the platform, set up your store, activate a bank partnership, and receive payment.

2. For Schools

With the school offer, you gain access to an easy and flexible way of paying your school fees. This solution makes quality education accessible to all by making a flexible school fees payment plan. To access this service, follow the steps below:

1. First register your school to create unique links for parents

2. Encourage parents to apply for the offer via the links

Lastly, once the platform approves your offer, you will receive payments.

3. For finance partners

Basically, the platform partners with bodies like banks and fintech companies. For partners, they help them to fund and access credit ecosystems at good unit economics. To gain access to this offer, just register your business on the platform.

Basically, the three services above are what CreditClan specializes in. Here are some of the things to consider before taking a loan.

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How can I register on CreditClan?

To register on the platform, follow the steps below:

1. Log into their official website, www.creditclan.com

2. Next, click on the ‘Sign Up’ toolbar.

3. Select your preferred sign-up option. You can either sign up as a merchant, school, or finance partner. 

Lastly, input important details about your business and signup fully.

Read also: LENCO – Everything you need to know

What are the requirements to sign up on CreditClan?

Below are the important details with the platform needs from you:

1. Your business name

2. Also, your business phone number

3. The name and category of your products (for merchants)

4. CBN license (For financial institutions)

5. Lastly, you need to create a strong password to secure your account from intruders.

Does CreditClan have a mobile app?

No, CreditClan does not have a mobile app yet. However, you can access all of their services through their official website, www.creditclan.com. Also, find out 5 common reasons why your loan application may be rejected.

How can I contact CreditClan?

Address: 1038b Ologun Agbaje Street, Victoria Island 106104, Lagos. Nigeria

Website: www.creditclan.com

Phone Number: 0905 353 5333

Email Address: support@creditclan.com

Bottom Line

CreditClan is a company that provides a platform that connects lenders and borrowers all over Africa. The company focuses on helping people access necessary services by offering them a flexible payment option. Also, they connect these consumers to merchants, schools, and businesses that are willing to provide credit to individuals. Essentially, the platform is easy to use, convenient and helpful. 

Need a loan? Kindly check out this platform that allows you to compare loans from several lenders in minutes. This would help you make the best decision for you.

The problem of waiting on long queues just to make money transactions is now outdated. Basically, people prefer to send and receive money from the comfort of their homes. SendCash is a digital tool that allows you to transfer and receive funds easily and conveniently. Here is a detailed summary of everything you need to know about the company.

An Overview of SendCash

SendCash is a digital platform that allows you to make quick and affordable fund transfers to Nigeria. The platform allows you to receive foreign currency directly to your account at a cheap exchange rate. Also, you can send money from Nigeria to over 80 countries worldwide. The Helicarrier group launched SendCash in 2020 to facilitate seamless cross-border transfers.

How does SendCash work?

Below are the simple steps that show how the digital platform works:

1. First, the platform links your Nigerian bank account to a specific Bitcoin wallet address.

2. A sender sends Bitcoin to your wallet address from notable platforms like Coinbase or Cash App.

3. You receive the Naira equivalent in your bank account.

Basically, you do not need to interact directly with Bitcoin before you receive cash. SendCash does the whole process for you. However, beware of fraudsters and stay ahead by reading more on how to identify loan scams.

How can I transfer money through SendCash?

With this platform, you can make money transfers without signing up. To transfer money via SendCash, follow the steps below:

1.       Log into their official website, www.sendcash.africa.

2.       Input the necessary transaction details.

3.       Lastly, the receiver gets the money within an hour of your transaction.

Also, you can download the app on the App Store for iOS or Google PlayStore for Android. The app gives you a better experience. However, you need to sign up before using it.

What are the benefits of using SendCash?

SendCash offers you a wide range of amazing benefits. They include:

1. Sending Money

Sending money conveniently is the primary purpose of SendCash. Therefore, with this platform, you can send up to $2,500 every day via peer-to-peer or Bitcoin methods for free.

2. Storing Beneficiaries

You can simply save the contacts of your loved ones on the app. Basically, by doing this, you can easily gain access to their details and send them money easily.

3. Payment links

After you signup, the app allocates you a unique payment link. With this link, you can easily receive money from friends, family, or clients globally.

4. Tracking Transfers

The app automatically generates and store details of every transfer you have made in the past. Hence, you gain access to your transfer history. This facilitates easy tracking of transfer.

What is SendCash Pay and how does it work?

SendCash Pay, a subsidiary of SendCash is a package of developer tools that facilitates seamless transactions. This software allows you to add a seamless and borderless payment experience to your online products. Basically, these tools lets you do the following:

a.       Receive Naira payments via direct bank transfer.

b.       Accept payments settlements globally. With SendCash Pay, you do not need to have a bank account where your users are to be paid.

c.       Also, receive payment from anywhere in the world through card or ACH.

d.       Automate payouts to more than 80 countries across the globe.

e.       Lastly, gain access to your users’ financial accounts to receive the information necessary for a seamless transaction.

Essentially, SendCash Pay is a software that you can use to add seamless transactions to your digital products.

You can also check out ReadyCash – How to become an agent

How can I contact SendCash?

You can contact SendCash through any of the following ways:

Website: www.sendcash.africa

Email Address: support@sendcash.africa

Closing Thoughts

SendCash is a great platform for you to easily send money to Nigeria from anywhere in the world. Also, you can use your payment link to receive cash. Its transfer tracking and saving beneficiaries function also make it a good alternative to conventional bank transfers. 

A sure way to access all your banking services with convenience is by using Kredi. Basically, Kredi Bank allows you to execute all your transactions from wherever you are and whenever you want. The company also guarantees you a secure and stress-free service. This solves the stressful transaction process common among conventional banks. Here is everything you need to know about Kredi and what they stand for.

KREDI- An Overview

Kredi is one of Nigeria’s leading digital banks and financial service organizations. The company focuses on responding to the need for innovative products as well as convenience. The bank was incorporated in 2010 and is powered by Kredimoney Microfinance Bank. Basically, they provide a wide range of services for corporate organizations and individuals. They have a sole aim to smoothly lead Nigerians into the digital future of banking.

Additionally, the organization is reputable for being customer-centric. They actively seek out solutions to any future problems you may encounter, while resolving your current problems. You can be sure to entrust the safety of your investment and privacy to them as measures are in place to protect your privacy.

What products does Kredi offer?

Basically, they offer three major products. Which include:

1. Kredi Savings

As the name implies, Kredi savings allows you to save your money in exchange for mouthwatering returns. It is divided into four different parts. They include:

a.       Kredi Daily Savings: 

Daily savings allows you to save money and earn returns on your savings. By contributing savings daily, your money accumulates interest and grows over time without stress.

b.       Kredi Vault: 

With Kredi Vault, you can lock your money for a specific period of time and gain interest. Basically, an automated process is set to ensure that you can lock your money with ease and enjoy maximum returns.

c.       Kredi Pot: 

This service permits you to set financial goals and targets and receive amazing interests as you save towards your goal. Your financial goals are your priorities and working towards them is a necessity.

d.       Kredi Edupot: 

Entrust the valuable future of your kids in capable hands by saving money for their education. In return, your savings accumulate interest over time.

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Get a loan up to N100,000 at the best affordable rates in Nigeria

Did you know that you can now you can compare interest rates from different lenders with our loan simulator and get the best deal? Making an informed loan decision requires comparing different loan offers before making a commitment. Through our simulator, you can see at a glance, loan offers coming from different lenders in less than 5 minutes, so you can make the right decision regarding your financing. Try it today

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2. Kredi Loans

This product offers individuals as well as businesses loans to ensure the smooth running of the business. Kredi loan is divided into four different parts. They include:

a.       Kredi SME (Small and Medium-sized enterprises) loan: 

This product allows you to take a loan for your business with no collateral. This loan can serve as funding to start, grow, rescue, and expand your business.

b.       Kredi Nano-Loan: 

Nano-loans are small, short-term loans to rescue your finances when necessary. In simpler terms, this product allows you to access as high as NGN 100,000 whether or not you earn a salary,

c.       Kredi Salary-Backed loan: 

This product is solely for salary earners. With a salary backed loan, you can access up to N5million with a repayment period of 18 months.

d.       Kredi Collateral-Backed loan: 

These loans are backed up by collateral to act as security for it. However, they also offer instant bank loans without collateral for customers.

3. Kredi Digital Banking services

The bank is automated with digital services to guarantee your convenience. With Kredi, you can easily pay your bills, top-up your airtime, fund your account as well as do a transfer seamlessly.

How can I download the Kredi app?

To download the Kredi app. Follow the steps below:

1.       Go to Google Playstore for Android or the App Store for iOs

2.       Search for Kredi and download the app

Basically, the app gives you access to all the products and services that Kredi offers.

How can I get a loan from Kredi?

To secure a loan on Kredi, follow the steps below:

1.       Download the Kredi app

2.       Create an account by registering your details with the app,

3.       Apply to get a loan through the app

With the steps above, you can get a loan from them.

How can I save my money using Kredi?

To save your money with Kredi, follow the steps below:

1.       Download and register on the Kredi app

2.       Fund your Kredi wallet by transferring cash into the wallet

3.       Kredi keeps your money safe pending when you need o to withdraw,

Also, your money will accumulate interest depending on how long you save.

How does Kredi Bank operate?

They are a digital bank that primarily works on your phone or desktop. However, they have a  physical branch In Lekki, Lagos.

How can I contact Kredi?

You can contact them through the following ways:

Address: Plot 8, Babatunde Anjous Road, Lekki Phase 1, Lagos

Phone numbers: +234 1888 5557,  +234 1888 5558

Email address: info@thekredibank.com

Website: www.thekredibank.com

Bottom line

Kredi offers you a hassle-free digital banking platform for your financial transactions. Over the years, Its reputable service shows that it is a bank you can trust. Also, the company’s no collateral loan option makes it customer-friendly. You should give them a try. Also, read some of the things you should consider before taking a loan.

Do you need a loan? Be sure to visit this loan platform that allows you to compare loans from different lenders in minutes. It offers the best and ensures that you get nothing less.

It can be quite devastating for a business owner to experience a loan rejection when trying to secure adequate funds to invest in their business.

Ideally, business fruition thrives upon access to investment opportunities, as well as readily-available cash. For a number of small and medium enterprises (SMEs), there is a tenacious dependence on banks and other financial institutions for business loans. It is, however, noteworthy to mention that there is a conscious divergence from traditional institutions to financial technology platforms.

That’s right. Other than banks, a new wave of lending platforms are sweeping the industry.

It is relatively easy to apply for a loan in any of the commercial banks in Nigeria, as well as other lending institutions.

However, the success of your loan application may not prove automatic as this depends on a number of factors. A loan application can be denied for various reasons, and we walk you through these so that you can eliminate them to increase your chances of getting a loan.

What are the top 5 Common Reasons Your Loan Application May Be Rejected?

Some of the most common reasons include:

1. Bad Credit History Leading to Loan Rejection

Credit history? What does that even mean? Credit history is a report of all the previous loans an applicant has taken in the past. It also takes into account; an analysis of how the loan was repaid. Now, one of the foremost things a lender does is to make reference to your credit history. Undergoing this task provides the lender with information on the number of loans you have before they proceed with issuing another. 

This concept might appear strange because a number of Nigerians may not be familiar with the strategy – especially first-timers. It is noteworthy to mention that the credit score plays a significant role in the approval of your application. Ideally, when a loan is declined without reason, it is advised that you check your credit history to be sure that you do not have any defaulted loans.

Awareness of your credit score prior to applying for a loan will inform you if you have poor, or no credit at all. If so, you can be certain that your loan application will be denied because you are too much of a risk. You can read more about credit score in Nigeria here and exactly what it entails.

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Get a loan up to N100,000 at the best affordable rates in Nigeria

Did you know that you can now you can compare interest rates from different lenders with our loan simulator and get the best deal? Making an informed loan decision requires comparing different loan offers before making a commitment. Through our simulator, you can see at a glance, loan offers coming from different lenders in less than 5 minutes, so you can make the right decision regarding your financing. Try it today

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2. Limited or insufficient collateral

Lenders as banks or financial technology companies are typically not willing to risk lending money to businesses without some sort of reimbursement. Should you decide to loan from a bank, there is every tendency to request a physical property or an equivalent that they can hold on to if a loan is not repaid. 

What should you do in this light? You should create a collateral document that lists everything you can put up as collateral. You can include both business and personal assets since the former may not have the equipment to offer as collateral. Following this, you may have to offer your home or car as collateral.

3. Loan Rejection Due To Over-Indebtedness

An applicant’s salary, account balance or statement of account do not automatically justify the approval of a loan. Rejection or denial of loan might be due to outstanding loans on the part of the applicant. That’s right: A lender is able to ascertain when an applicant has a number of loans running concurrently. This is a risk-management decision for the lender and they may not be willing to take chances. Actually, it’s a no-no. 

4. Low Income/Profits

Like we have established earlier, lending platforms are in the business of giving out loans such that they can make returns for themselves. Judging by your application, it is possible to discover that your business may not possess the potential to repay them. In this light, an application may be denied. This, however, is not to encourage the adoption of pseudo proposals for your business. No, you do not want to try that.

The simple message is: If you apply for loans that are considered too large for you or your business’ capacity, the proposal may be declined.

5. Flimsy Business Plan or Proposal

Investors will not probably consider your loan application if you present a shallow business proposition. To ensure the approval of your loan sequel to submission, here is a simple rule of thumb: Do justice to the thoroughness and explicitness of your business plan. This paints the picture to your prospective investors that you have conducted research, or that you know your target customers. What’s more, is that it demonstrates you have a clear mission statement with goals in mind, and contains a calculated estimate of sales and profit projections.

The report further, suggested that asides from your plan, ensure you have prepared your resume, personal background, financial statements, bank statements, income tax returns, and legal documents such as articles of incorporation.

Conclusion

All of these reasons may not be clear to an applicant at the point of rejection because these were not criteria that they expected. However, if they are important to lenders when ascertaining whether or not to issue a loan, a borrower should also put the lenders into consideration prior to applying for a loan.

It is imperative that you do your homework when applying for a loan. Failure to use accurate information about yourself while applying on platforms like Branch Loan can also lead to rejection. Keeping tabs with trends is also an added advantage to keep you abreast of recent developments.

If you discover at any point, that there might be complications, you might as well postpone your application until a later date. Alternatively, you can seek other lending platforms.

Do you need a loan? Be sure to visit this loan platform that allows you to compare loans from different lenders in minutes. It offers the best and ensures that you get nothing less.