Lendigo is an online lending platform that provides businesses with access to quick, flexible, and affordable loans. Founded in 2020, the company has quickly become one of the leading providers of digital lending solutions in Nigeria.
Lendigo offers a variety of loan products for businesses of all sizes, including:
- Small Business Loans: These loans are designed to meet the specific financing needs of small and medium-sized enterprises (SMEs) in Nigeria. With loans ranging from ₦300,000 to 10,000,000, SMEs can access the funds they need to grow their businesses.
- Distributor Financing: This product is designed to help distributors finance their inventory and stock up on fast-selling goods. With a flexible tenure of up to 12 months, distributors can access the funds they need when they need them.
- E-commerce Merchant Loans: This product is designed to help e-commerce merchants finance their growth. With loans based on the merchant’s sales data, e-commerce merchants can access the funds they need to scale their businesses.
Lendigo’s loans are available to businesses of all credit scores, and the company does not require any collateral. This makes Lendigo a great option for businesses that may have difficulty getting a loan from a traditional bank.
In addition to its competitive interest rates, Lendigo also offers a number of other benefits, including:
- Fast and easy application process: Businesses can apply for a loan online in just a few minutes.
- Flexible repayment terms: Businesses can choose from a variety of repayment terms, including monthly, biweekly, and weekly payments.
- Free early repayment: Businesses can repay their loans early without any penalty.
If you are a business owner in Nigeria who is looking for a quick, flexible, and affordable loan, Lendigo is a great option to consider.
Here are some additional details about Lendigo:
- Headquarters: Lagos, Nigeria
- Founded: 2020
- CEO: Abasi Ene-Obong
- Website: https://lendigo.ng/
How Does Lendigo Work?
Lendigo is a financial technology company that provides short-term loans to small businesses in Nigeria. The company does not require collateral, so businesses can get the funding they need without having to put up their assets as security.
Lendigo works by using a data-driven approach to assess the creditworthiness of businesses. The company collects data on a business’s sales, financial performance, and other factors to determine how likely it is to repay a loan. This allows Lendigo to offer loans to businesses that might not be able to get funding from traditional banks.
To apply for a loan from Lendigo, businesses can complete an online application. The application process takes just a few minutes, and businesses can usually get approved for a loan within 24 hours. Once a loan is approved, the funds are deposited into the business’s bank account within 48 hours.
Lendigo charges a monthly interest rate on loans, as well as a processing fee. The interest rate and processing fee vary depending on the size of the loan and the business’s creditworthiness.
Here are the steps on how Lendigo works:
- Businesses create a free account on the Lendigo website or mobile app.
- They provide information about their business, including their sales, financial performance, and other factors.
- Lendigo uses this information to assess the business’s creditworthiness.
- If the business is approved for a loan, they will receive an offer with the terms and conditions.
- If the business accepts the offer, the funds will be deposited into their bank account within 48 hours.
Lendigo is a good option for small businesses that need short-term funding but do not have collateral. The company’s data-driven approach to lending makes it possible for businesses to get the funding they need even if they have a limited credit history.
Here are some of the benefits of using Lendigo:
- No collateral required
- Quick approval process
- Fast funding
- Flexible repayment terms
- Competitive interest rates
If you are a small business owner who needs short-term funding, Lendigo is a good option to consider. The company offers a quick and easy way to get the funding you need without having to put up your assets as security.
Lendigo Loan App
Lendigo Loan App is a mobile app that allows small business owners in Nigeria to apply for and receive loans quickly and easily. The app is available on both Android and iOS devices.
To apply for a loan through the Lendigo Loan App, you will need to provide some basic information about your business, including your name, email address, phone number, business name, and business registration number (if applicable). You will also need to provide your bank account details.
Once you have submitted your application, Lendigo will review your information and get back to you within 24 hours. If your application is approved, the funds will be deposited into your bank account within 24-48 hours.
The Lendigo Loan App offers a variety of loan terms, including loan amounts ranging from ₦100,000 to ₦5 million, repayment terms of 3, 6, or 12 months, and interest rates ranging from 4% to 8%.
There are no collateral requirements for Lendigo loans, so you can apply for a loan even if you do not have any assets to secure the loan.
Here are some of the benefits of using the Lendigo Loan App:
- Quick and easy application process
- Fast funding
- No collateral requirements
- Flexible loan terms
- Competitive interest rates
If you are a small business owner in Nigeria and you are looking for a quick and easy way to get a loan, the Lendigo Loan App is a great option.
Here are some additional details about Lendigo Loan App:
- Interest rates: Lendigo charges from 4% to 8% flat monthly interest, including a processing fee from 0.5% to 2.0%.
- Repayment terms: Lendigo loans have repayment terms of 3, 6, or 12 months.
- Loan amounts: Lendigo loans range from ₦100,000 to ₦5 million.
- Collateral: Lendigo loans do not require collateral.
- Application process: The Lendigo Loan App application process is quick and easy. You can apply for a loan in just a few minutes.
- Funding: If your application is approved, the funds will be deposited into your bank account within 24-48 hours.
If you are interested in applying for a loan through the Lendigo Loan App, you can visit the Lendigo website or download the app from the Google Play Store or the Apple App Store.
How To Download The Lendigo Loan App
- Open the Google Play Store app on your Android device.
- Search for “Lendigo Loan App”.
- Tap on the “Lendigo Loan App” app.
- Tap on the “Install” button.
- Once the app is installed, open it.
- Follow the on-screen instructions to register for an account and apply for a loan.
Here are the requirements for downloading the Lendigo Loan App:
- You must have an Android device running Android 5.0 or higher.
- You must have a Google Play Store account.
- You must be a resident of Nigeria.
Here are the benefits of using the Lendigo Loan App:
- You can easily apply for a loan from your smartphone.
- You can get a loan quickly, even if your business is not registered.
- You can get a loan at a low interest rate.
- You can get the loan credited straight into your bank account.
What Is Lendigo’s Interest Rate?
Lendigo’s interest rates range from 4.0% to 8.0% flat monthly interest, including a processing fee from 0.5% to 2.0%. The exact interest rate you will be charged will depend on your credit score, the amount of the loan, and the length of the loan term.
As a comparison, microfinance banks charge from 5.0% and Lendigo’s competitors charge between 7.0-13.0% monthly. So, Lendigo’s interest rates are very competitive.
It’s important to note that early repayments are free and can be made anytime, which can help you save money on interest.
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