- Jan 22, 2018
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5 Online Platforms Where You Can Get Loans In Few Minutes.
There are few online lending platforms that help business owners with quick loans for their business. Some even give out to salary earners to meet up with unplanned expenses.
The top 5 online platforms where you can get loan in few minutes are:
1. C24: C24 Limited is a microfinance institution that was established with the sole mission to create an avenue for people to actualize opportunities around them, by helping them access cash loans when they need it.
C24 understands the need for quick cash loans and the necessity of quicker loan processing time.
Their online loan process has been optimised to help applicants avoid the stress associated with other loan companies.
2. QUICKCHECK : QuickCheck is a modern lending platform for individuals and small businesses.
QuickCheck uses mobile technology to enable individuals and small businesses gain access to financial credit.
According to the platform, users can access quick and hassle free loans of up to 30,000 Naira without any collateral for a duration of either 15 or 30 days.
Paylater is an easy and entirely online lending platform that provides short-term loans to individuals and small businesses in Nigeria to help cover unexpected expenses or urgent cash needs.
With Paylater, you can access up to 500,000 Naira loan with no collateral. Once your application is approved, funds are typically received within 1 – 3 business days. Making on-time repayments can grant you access to higher credit limits for your next loan.
Even though the help is timely, the interest rate is usually high. Ensure to read through the terms and conditions before you apply.
This is a Mobile Lending Marketplace Solution that links lenders and Credit worthy Unbanked/Underbanked Borrowers.
It makes use of a proprietary algorithm that automatically aggregates client's transactions notification on their mobile phones, Bills payment, Call/SMS history and simultaneously analyses Income and spending patterns,then avails loan amount with tenure that uniquely suits each individual.
The application process is quite easy and seamless.
Loans on PayConnect do not require Collateral. Applicants receive loans amounts into their PayConnect E-wallet after approval, which they can withdraw from any ATM, Use on any POS or transfer to any bank account of their choice in Nigeria. Repayment is required after a stipulated tenure.
5. CREDIT VILLE
Credit ville offer both payday and business loans between 250,000.00 to 1,500,000.00 for, employed, business owners and self employed individuals. Interest portion is usually on a reducing balance basis (rbb). Creditville Loans all have a maximum repayment period (tenure) of 12 months and monthly repayments can be done via multiple channels.
Online lending websites are advantageous in the sense that they give room for comparison of several loan offers all at once on the internet. This is crucial and makes it easier to compare and get the best interest rates and terms possible. Also, online lending is a suitable option if you do not qualify for a bank loan and need funds immediately.
The major disadvantage of lending from these online platforms is the high interest rate placed on loans.