Lendigo is a Fintech company that provides short-term financing facilities to help small and medium-sized businesses run smoothly and optimally. It is an internet platform that assists companies in reaching the financial demands of the market.
Lendigo is a great option if you need to find rapid loans. You might give Lendigo a try if you’re a small- or medium-sized business owner who needs money to fund your operations. Lendigo provides loans to companies so they may operate smoothly and without hiccups.
However, everything is dependent on the kind of business and the required sum. Yes, submitting a loan application on Lendigo is quite simple. Lendigo offers loans of up to ten million Naira (N10,000,000), with payback terms ranging from one month to six months, low-interest rates, and no need for collateral or other property documentation.
Lendigo Loan App
You may stay up to current on your loan application and payments at any time, anywhere with the Lendigo loan app. You can download this loan app from the Google Play Store. Over 40 000 reviews, 4.1-star ratings, and around 100,000 downloads are a result of its amazing features.
The software includes an intuitive user interface that is simple to navigate on your own. The Lendigo lending app is also only 12 MB in size when downloaded. It will be downloaded to your Android smartphone.
The Lendigo Loan App Download Procedure
The Lendigo loan app is easy to download. You can download this software on your phone for no more than 12 MB. How?
- Open the Google Play Store.
- Enter “Lendigo Loan App” into the search box. You will see the app.
- Click “install” to start the app’s download.
- Register and submit
What Conditions Must Be Met in Order to Qualify for Lendigo Loans?
According to the type of business you have, the requirements and standards for receiving loans from Lendigo are listed below.
1. SMEs (Small and Medium-sized Enterprises)
You should apply for a Lendigo SMEs loan if you provide professional or even retail services. These companies are able to borrow up to N300,000.
But the following are required;
- Existing for at least a year.
- monthly revenue of N150,000.
- A recognized government identification document.
- If your company is a limited corporation, request a corporate guarantee through the resolution board of the business.
- Your CAC records.
- a history of the account statement
- You require a NUBAN check and REMITA for loans up to #1,000,000.
2. Online retailers.
Similar to SMEs, businesses at this level can borrow up to N300,000. They must meet the requirements and submit the documentation listed below:
- Your company has to be debt-free for the previous six months of operation.
- The completed direct debit form, or REMITA, is crucial.
- If you want to borrow up to N1,000,000, a NUBAN check is necessary.
- For the last six months, a monthly income of N100,000.
Registration Certificate For A Corporation.
- NIN and BVN
- a reliable identifying strategy.
- a personal guarantee form, a guarantor form, and a corporate guarantee form (for limited companies)
The following requirements and records are necessary to demonstrate your eligibility.
- For the last six months, N250,000 has been recorded as revenue during the last six months.
- Your POS terminal must be with a POS aggregator that has a CBN license.
- NIN and BVN.
- You require a NUBAN check if the loan amount you wish to collect is close to one million. Additionally, a REMITA form must be completed.
- A corporate guarantee (for limited firms), a personal guarantee, and a guarantor form.
- Verified identification technique
- 20 transactions or more must be completed each week.
Minimum And Maximum Loan Amounts With Lendigo.
Everything is dependent on the type of business you run. This is because there is a minimum loan amount for each loan option. Despite this, you are able to borrow anywhere between N100,000 and N10,000,000. You can apply for business loans from Lendigo whenever you meet the conditions and specifications for your loan option.
Lendigo Loan Repayment Period and Repayment Procedure.
Lendigo loans typically have terms of one to six months for repayment. You can pay back your loan using the loan app or by asking for the business’s account information to make a cash repayment.
What Is the Interest Rate at Lendigo?
The type of business and the loan selection affect the interest rate. The interest rate for small and medium-sized firms is 4.8% annually. Online retailers receive 4% annually. POS employees earn 4.8% annually. In contrast, distributors pay about 3.5% annually.
Lendigo is a reputable Fintech business, they are trustworthy and sincere. They are also one of the top-rated apps in the Google Play Store.