If you’re a small business owner or a medium-sized business person in need of funds to operate your business, Lendigo loan app could be a viable option for you.
In this article, I will explore the features of Lendigo, its functioning, the Lendigo loan app, and the process of obtaining fast and seamless business loans from Lendigo. Keep reading to learn more.
Lendigo is a financial technology (Fintech) company that provides short-term credit facilities to support the smooth operation of small and medium-sized businesses. It operates as an online platform, called Lendigo loan app, and assists businesses in meeting their funding requirements to align with market expectations. If you require quick loans, Lendigo comes highly recommended.
How Does Lendigo Loan App Operate?
Lendigo loan app offers loans to businesses to ensure seamless operations without any obstacles. The loan amount and terms depend on the specific business and funding needs. Applying for loans on Lendigo is straightforward and hassle-free.
You can secure loans up to ten million Naira (N10,000,000) from Lendigo loan app, with convenient repayment terms, low-interest rates, no collateral or property documents required, and a repayment period of 1 to 6 months. The Lendigo loan app allows you to stay updated on your loan application and repayment status anytime and anywhere.
You can download the Lendigo loan app from the Google Play Store, just like Branch, Carbon, Aella Credit and others. With its excellent features, it has garnered over 40,000 reviews, 4.1-star ratings, and approximately 100,000 downloads. The app has a user-friendly interface and is easy to navigate without any guidance. Additionally, the Lendigo loan app has a small download size of 12 MB, making it suitable for your Android phone.
Lendigo Loan App Download
Downloading the Lendigo loan app is a simple process. It requires less than 12 MB of storage space on your phone. Here’s how you can do it:
- Go to the Google Play Store.
- Search for “Lendigo loan app” using the search bar. The app will be displayed.
- Click on “install” to download the app.
- You now have the app installed on your device!
Requirements for Obtaining Loans from the Lendigo Loan App
The following are the requirements and criteria for obtaining business loans from Lendigo, depending on the type of business:
Small and Medium-sized Businesses/Enterprises (SMEs)
If you run a retail or professional services business, the Lendigo SMEs loan is suitable for you. These businesses can borrow starting from N300,000. The following documents are needed:
- Minimum one year of existence.
- No outstanding debt.
- Monthly turnover of N250,000.
- BVN (Bank Verification Number) and NIN (National Identification Number).
- Valid government-issued identification.
- For limited companies, a corporate guarantee through the company’s resolution board.
- CAC (Corporate Affairs Commission) documents.
- Statement of account history.
- For loans up to one million, a NUBAN cheque and REMITA are required.
E-commerce Merchants
E-commerce businesses can borrow starting from N300,000, similar to SMEs. The following criteria and documents are required:
- Debt-free operations.
- Minimum six months of business operation.
- Filled REMITA direct debit form.
- For loans up to one million, a NUBAN cheque is required.
- Monthly revenue of at least N100,000 for the past six months.
- Certificate of company registration.
- BVN and NIN.
- Valid identification method.
- Personal, guarantor, and corporate guarantees (for limited companies).
POS Agents
The following criteria and documents are essential to demonstrate eligibility as a POS agent:
- Active operations for at least six months.
- Minimum revenue of N250,000 over the past six months.
- Possession of a CBN-licensed POS aggregator.
- BVN and NIN.
- For loans around one million, a NUBAN cheque and REMITA form need to be completed.
- Personal guarantee, guarantor form, and corporate guarantee (for limited companies).
- Verified method of identification.
- A minimum of 20 transactions per week.
Fast Moving Consumer Goods (FMCG) Distributors
Registered FMCG distributors seeking loans for their businesses must meet the following requirements:
- Active operations for at least two years.
- Monthly revenue of N500,000 or more.
- Verified method of identification.
- National Identification Number (NIN) and Bank Verification Number (BVN).
- CAC documents.
- NUBAN cheque and REMITA form.
- Corporate guarantee through the resolution board.
- Asset debenture or lien.
- Capability to purchase goods worth one million monthly and have at least one well-known client.
What is the Minimum and Maximum Loan Amounts on the Lendigo Loan App?
The minimum and maximum loan amounts depend on the type of business. Each loan option has its own minimum amount. However, you can borrow as little as N100,000 or as much as N10,000,000. Once you meet the requirements and criteria for your chosen loan option, you can obtain business loans from Lendigo.
Lendigo Loan App Repayment Term and Process
The repayment term for Lendigo loans typically ranges from 1 month to 6 months. You can repay your loan through the loan app or by requesting the company’s account details for cash repayment.
Lendigo’s Interest Rates
The interest rate charged by Lendigo depends on the type of business and the specific loan option:
- Small and medium-sized businesses: 4.8% per annum.
- E-commerce merchants: 4% per annum.
- POS agents: 4.8% per annum.
- FMCG distributors: Approximately 3.5% per annum.
How Do I Contact Lendigo?
Head Office: 14th floor, 13 Town Planning Way, Ilupeju, Lagos State, Nigeria.
Phone Number: 08122891078
Email Address: support@lendigo.ng
Frequently Asked Questions (FAQs)
Is Lendigo Legit?
Yes! Lendigo is a trustworthy and dependable platform. It has earned a stellar reputation and is widely regarded as one of the top-rated applications available on the Google Play Store. It does not harass or threaten customers like fake loan apps do. It is safe to use.
How Can I Borrow From Lendigo?
To get started, simply head to your Play Store and download the Lendigo app. Once downloaded, proceed to register by creating an account with Lendigo. Once your account is set up, you can easily apply for a loan directly through the app. Just follow the provided guidelines and make sure to submit all the required documents. If your application meets the approval criteria, you will be credited with the loan amount.
How Does Lendigo Work?
When applying for loans on Lendigo, there is no need to provide collateral as security. As long as you meet the eligibility requirements and adhere to the terms and conditions, you can proceed with the application process. The Lendigo loan app offers a flexible repayment plan, allowing you to manage your loan repayment in a way that suits your financial circumstances.
Conclusion
Lendigo is a
reputable and reliable financial technology (Fintech) company that offers short-term credit facilities to support the smooth functioning of businesses. With its user-friendly online platform and convenient loan application process, Lendigo provides businesses with quick loans tailored to their needs. The Lendigo loan app, available for download on the Google Play Store, allows you to easily apply for loans, stay updated on your application status, and manage loan repayments.
