Finance Loan apps you can use for funding your business

[Augusta]

If you are interested in funding your business through borrowing or loans. Then they are some online apps you can borrow from. But you would need to check their interest rate and pay back time to be sure you would comfortable with it.

The outstanding ones are ;

Palmcredit:. You can get your loan from this app. You can even refer others and make extra money from them.

Carbon: This is another good loan app you can access to find your business. It's available for both IOS and Android phones.

FairMoney app: you can use this app to fund your business today. The transaction just take fees and you are done.

Quick check : This is a special one as you would have the option to choose when to pay back. So you can check this out.

 

[Good luck]

Most of the app loan funding for business are genuine but their terms and conditions really varies.most of them charge big interest which makes you almost impossible for them to have more customers.I heard some of them change their initial agreement with you after sometime. I have never attempt using their loan to fund any form of business

 

[kayode10]

I can never advise anyone to make use of loan app. The reason is that some of them have higher interest rates especially when you want to repay back for a long period of time. Another thing is that majority of them are found of embarrassing the client if it happens that they default and didn't pay or back on time. We will start with you now to your contacts in order to pressurise you to pay back the money.

 

[Mika]

Never heard of any of these loan apps. In my home country, we can use bank apps to apply for a loan. You will first have to fill a form in the app and submit your form, if you are eligible, the bank you contact you and you can secure a loan.

 

[Mandy96]

Hello, I am from nigeria, and I think of all the apps you listed above, fair money is the only one we have in nigeria but I am not sure if they give people so much huge loans to the extend of using for business purposes. Well I can’t really say that there is any good loan app that borrows people money to run their businesses but I am sure that most of the businessmen and businesswomen in nigeria makes use of bank loans and some agencies called cooperative and also LAPO, the second one is very common amongst the local or rural traders.

 

[btaliat]

The conditions that you need to meet before giving the loans and the malicious ways of collecting their loans back makes some of these app inappropriate for loan collection

 

[Kennysplash]

Well these loan apps are exclusive to Nigerians only. However the various reviews that many people have been saying about these apps are so disheartening. If you default a day, they will start calling all your contacts that you are a debtor and have refused to pay them their money. Since you also submitted your BVN before you are granted the loan, your account might be put on hold and may not function depending on the amount of the loan. Even if you need the loan, just use it for small expenses and make sure you repay it on time. It is not advisable to use it for business.