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.
Help is crucial, but how and where it’s obtained is equally important. Take Mr. Martins, a small business owner in Lagos. As a tyre dealer in a Lagos suburb, he built a loyal customer base but struggled to expand his business due to a lack of funds. Rejected by several loan companies because of insufficient documentation, Mr. Martins’ inability to grow and meet customer demand led to losing some clients. Unfortunately, his story is not unique—many small business owners in Nigeria face similar challenges when seeking credit. Thankfully, KwikPay Credit stepped in, helping Mr. Martins put his documentation in order and secure a loan. With this support, he successfully revived his struggling 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. Services like KwikPay Credit are changing this narrative.
How? By making the 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
- To purchase raw materials and inventory to meet increasing demand
- To expand the operations of the business i.e. employ new resources, open additional branches to take advantage of demands, etc.
- To buy new or upgraded equipment
- For working capital purposes.
What are the benefits of using KwikPay Credit?
- A flexible loan amount.
- You can get approval in minutes which is helpful in cases of emergency
- Flexible repayment tenure
- 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.
- No application fees
- No admin fees and
- No collateral is needed.
- There are no hidden fees.
- Interest rates are communicated upfront.
- The repayment process is very easy. We deduct the payment directly from your bank on the specified date or process it using pre-signed cheques/mandates submitted during application. Also, a reminder via email and phone calls at least three days before the repayment is due.
How to apply for KwikPay Loan
- You must be over 18 years old, employed, and have a Nigerian bank account.
- Online application form
- Employment ID and valid means of identification (passport, driver’s license, national ID, etc.)
- We factor in your repayment history from any previous loans taken with financial institutions in Nigeria during credit checks. Read more
- You may need a guarantor, depending on the loan amount.
Conclusion
KwikPay Credit is an easy and available option when unplanned financial commitments occur. You can access the process 24/7 online, with approval and disbursement completed within minutes. (T&Cs) Apply
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.