Lendigo Loan : Requirements And Interest Rate.

Lendigo loan facilities are for businesses that meet the loan requirement and enjoy low interest rate in Nigeria.

Running a business can be very enjoyable. But, owners of businesses always must spend money, particularly in the beginning stages. In this article entrepreneurs will discover how to apply for business loans using Lendigo. Lendigo loans service.

What exactly is Lendigo and how does it function?

Lendigo is an fintech firm which lends working capital to medium and small enterprises in Nigeria.

Lendigo provides loans that are based on the specific demands and financial needs of every company. You can get the amount of $10 million through Lendigo’s platform.

If you’re a business proprietor in Nigeria You can make an application for short-term loan on Lendigo. Lendigo Loan platform. The money you receive will be used received to expand your business and pay it back later.

Lendigo loans are low-interest according to what your company’s needs are. If your loan request is approved, the loan will be transferred into your account at the banks.

lendigo loan

Lendigo loan app download

Use and access Lendigo for mobile phones

At the time when this article was written, Lendigo is accessible on browsers, as well as Android phones. It is possible to access or use Lendigo via any web browser and also get the app and download it. application.

You can request a business loan via the Lendigo mobile application. Your business doesn’t need for registration by the Corporate Affairs Commission (CAC) prior to requesting an loan.

Download and run the Lendigo loan Mobile application via Google Play Store. Google Play Store. It is small in size of 12MB and more than 100,000 downloads. The current version has a review score of 4.0 from more than 3,800 users.

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It’s simple to get an investment loan to your company on Lendigo. You can pick one of four business loan options on Lendigo.

Lendigo business loan for small and medium-sized companies (SMEs)

Beginning at N300,000

This loan is designed for companies that offer retail and professional services. It is also possible to apply to this credit if your business sells items such as Electronics and Computing, phones, Fashion & Apparel, and household Goods in addition to other.

Criteria for eligibility for Lendigo business loan

  1. Your business needs to be operating for at least 12 months
  2. Your business should be of the kind that generates a minimum of N250,000 monthly
  3. From the time of your application, your company is not a debtor of a financial institution

Documents that are required for Lendigo business loan

  1. The government-issued identification documents (International Passport National ID, Driver’s License Voters ID)
  2. Last 12 months of Bank Statements
  3. The CAC documents (CAC 2 and 7) (if your company is registered)
  4. BVN as well as NIN for the owner of business
  5. NUBAN check (if you’re seeking a loan that is greater than N1 million)
  6. REMITA completed direct debit form
  7. Forms of Personal Guarantee signed by the signatory and a second Guarantor (if appropriate)
  8. Corporate guarantee by Board Resolution (if your business is a Limited Company)

Lendigo business loan for POS agents

Starting at N300,000

This loan is intended for POS businesses that require funds to pay for operational expenses and also to fund working capital.

Note The approval for this kind of loan will be contingent on the amount of your transactions in the past. The repayments will be done through weekly deductions of your profits.

Criteria for eligibility for POS agents

  1. Your POS company must be in operation and operating within the last six months.
  2. Your POS company must possess at minimum one POS Terminal. It must be purchased through a CBN-licensed POS Aggregator.
  3. Each POS device has to be able to process at least 20 transactions each week. That means that if you have three POS devices, you have to complete more than 60 transactions each week.
  4. This POS business has to have at least N250,000 in the past 6 months
  5. Your company should be debt-free at the time of your application
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The documents required by POS agents

  1. Identification issued by the government (International Passport National ID, Driver’s License Voters ID)
  2. CaC document (CAC 2 and 7) (if relevant)
  3. BVN of the owner of the business
  4. NUBAN cheque (if the loan is greater than N1,000,000)
  5. Direct debit form filled out (REMITA)
  6. Forms of Personal Guarantee signed by the signatory and another Guarantor
  7. Corporate guarantee via Board Resolution (if LTD Company)

Find out more information and apply here for an application.

Lendigo business loan for FMCG distributors

Beginning with N1 Million

The business credit is intended for registered Key-distributors as well as Sub-distributors for well-established Fast Moving Consumer Goods (FMCG) producers.

The eligibility criteria for distributors

  1. Your company needs to exist with the government of Nigeria in the form of LLP, PLC or Ltd
  2. The company should have been in existence for at least two years prior to the time of your application
  3. Your business should be able to generate minimum of N500,000 in revenue per month.
  4. Furthermore, your company must be one that buys items that are worth more than N1 million each month
  5. You have to have distributed at the very least one well-known or reliable customer (examples of this include private companies from abroad that are on the market for stocks)
  6. You’ll need an asset debenture prior to when you can get this loan

Documents required for distributors

  1. Identification issued by the government (International Passport National ID, Driver’s License Voters ID)
  2. The CAC documents (CAC 2 and 7) (if appropriate)
  3. BVN of the owner of the business
  4. NUBAN cheque (if you have a loan of more than N1,000,000)
  5. Direct debit form that is filled in (REMITA)
  6. Forms of Personal Guarantee signed by the signatory and another Guarantor
  7. Corporate guarantee via Board Resolution (if LTD Company)

Find out more information and apply here to apply.

Business loans from Lendigo for merchants who sell on the internet

Beginning at N300,000

This kind of loan is available to businesses who trade on major E-commerce platforms. The most common examples include Jumia as well as Konga..

Eligibility criteria for merchants on E-commerce

  1. Your company must be actively engaged on E-commerce sites, such as Jumia for at least 6 months.
  2. Your online company should be one that is able to sustain regular sales
  3. This online company must have earned at least N100,000. six months preceding it.
  4. Your business should not be in debt to any person or financial institution
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The documents required by E-commerce merchants are listed below.

  1. The government-issued identification documents (International Passport National ID, Driver’s License Voters ID)
  2. CaC document (CAC 2 and 7) (if appropriate)
  3. BVN of the owner of the business
  4. NUBAN cheque (if you have a loan of more than N1,000,000)
  5. Direct debit form filled out (REMITA)
  6. Signature of Personal Guarantee forms and another Guarantor
  7. Corporate guarantee by Board Resolution (if LTD Company)

Lendigo business loan repayment term

All business loans made available by Lendigo come with a repayment period of between 1 and six months. It is extremely flexible and can be very beneficial for entrepreneurs.

A good company should be able to return its start-up and working capital within six months.

Lendigo business loan interest rates

The rate of interest for Lendigo business loans is different, dependent on how big and the type of company.

  • Medium and small-sized companies Rates of interest start at 4.75 percent per annum
  • Agents at POS The interest rates begin at 4.75 percent per year
  • Distributors The interest rates begin at 3.5 per cent per year
  • Merchants who sell on the internet The interest rates begin at 4% per annum

Where is Lendigo headquarters located?

Lendigo Business Loans has an office in Nigeria which is where they handle the loan products they offer.

It is also possible to visit the office to make complaints or inquiries. The office is located on the 4th Floor 13, Town Planning Way, Ilupeju, Lagos State, Nigeria.

Lendigo customer support for loans and email address

It is possible to talk to Lendigo customer service for problems with the loan service. You can also reach them to discuss financial issues with them.

For phone calls: 0812 289 1078

Official websiteLendigo.ng

Email address: 60******3f9@2***b.com

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