CT Financing

Registration

How it works

Business and Consumer Financing

SpottR gives credit to users who want to start a business but have little capital to embark on it. As with our default credit product, users need to make their equity contributions by purchasing CLIQ tokens up to 1/5th of the total capital requirement for the business. 

SpottR also bridges the gap for people who want to have a side hustle but do not know what to venture into. While we have money to give to you, we also have made it easy for you by coming up with business schemes that you can just key into without having to thing too much. See some of those schemes below.

We also give credit to business customers to buy from you. To be a partner business email us via partner@thespottrapp.com 

Consumption: Direct to Consumer 

  1. User reaches out to us to request loan through our portal
  2. SpottR Oracle determines their eligibility by checking wallet balance for equity contribution
  3. If eligible, the user gets credited directly to their bank account with the full value of the request and their tokens are frozen. 
  4. Else user is asked to request smaller amount or to top up wallet
  5. User make their equity contribution (by purchasing/acquiring CLIQ tokens that are enough to make their contribution) 
  6. User makes repayment according to contract and tokens are unfrozen after user successfully completes repayment
  7. If a user makes 2 consecutive defaults, SpottR triggers 1st warning and if the user defaults 2 more times following that, they forfeit their tokens. If a user makes remittance after the first warning, they will get a warning immediately after a default and will lose their tokens on the second one.



Consumption: Direct to Vendor/Partner

A user has the following exposure options once they discover a product from a vendor that they want to consume;

Visit to Client/Partner store

  1. User visits a Client/Partner store and requests to access our credit scheme to make a purchase
  2. The user is guided to make the purchase through the client/partner website or SpottR portal. The partner site plugs into ours using our API so that the user or the store attendant can help the user to set up their wallet instantly and routes back to the partner site to complete the transaction.
  3. Once the wallet is set up, on-the-spot users will be required to deposit at least 20% of the value of their transaction which will serve as collateral for their purchase. If a user already has a wallet, they will be required to sign in and to proceed with the transaction if and when the wallet balance equals 20% of the cart value.
  4. The user will receive the items and can exit the store while the SpottR oracle automatically credits the Client/Partner the full value of the transaction.
  5. User makes repayment according to contract and tokens are unfrozen after user successfully completes repayment
  6. If a user makes 2 consecutive defaults, SpottR triggers 1st warning and if the user defaults 2 more times following that, they forfeit their tokens. If a user makes remittance after the first warning, they will get a warning immediately after a default and will lose their tokens on the second one.

 

Purchasing Client/Partner products from the Client/Partner Website

  1. User visits the Client/Partner website and opts to purchase product
  2. User is directed to select more items and/or to proceed to the cart area and is presented with all the options to complete the transaction – our scheme inclusive. Our scheme perks must be displayed (e.g. low interest rate at 3.5%)
  3. User selects the scheme and is redirected to our portal to create a wallet if they don’t already have one and to make a 20% deposit on the value of their cart. If the user already has a wallet, they will be required to sign in and to proceed with the transaction if and when the wallet balance equals 20% of the cart value.
  4. User makes a deposit and checks out while the SpottR oracle automatically credits the Client/Partner the full value of the transaction.
  5. User makes repayment according to contract and tokens are unfrozen after user successfully completes repayment
  6. If a user makes 2 consecutive defaults, SpottR triggers 1st warning and if the user defaults 2 more times following that, they forfeit their tokens. If a user makes remittance after the first warning, they will get a warning immediately after a default and will lose their tokens on the second one.

 

Purchasing Client/Partner products from SpottR

  1. User finds a Client/Partner product on SpottR and opts to purchase product
  2. User is directed to select more items and/or to proceed to the cart area and is presented with all the options to complete the transaction.
  3. User selects the scheme and is prompted to make a 20% deposit on the value of their cart. 
  4. User makes a deposit and checks out while the SpottR oracle automatically credits the Client/Partner the full value of the transaction.
  5. User makes repayment according to contract and tokens are unfrozen after user successfully completes repayment
  6. If a user makes 2 consecutive defaults, SpottR triggers 1st warning and if the user defaults 2 more times following that, they forfeit their tokens. If a user makes remittance after the first warning, they will get a warning immediately after a default and will lose their tokens on the second one.

We also give credit to business customers to buy from you. To be a partner business email us via partner@thespottrapp.com

Business Schemes

The keke scheme allows users to own a keke napep for a period of 12 months with an equity contribution of atleast 200,000 naira. At the end of the period, the investor would have made Returns on their Investment of about 93% (15,100 naira monthly) while paying back their capital and interest to us monthly.

Here is how it works.

  1. User requests to join the scheme with 200,000 naira
  2. User is matched with a rider
  3. User signs contract and provides remittance account info
  4. User leaves the rest to us and gets their monthly returns
  5. User token is unfrozen after SpottR deducts our investment and makes remittance to the investor.

Collections: SpottR works with NURTW agents and other pre-signed agents in Major cities who maintain a register of riders under our scheme and collect the remittances and make deposits to us. The collector must provide valid I.D, valid residential address, two sureties with verifiable addresses who will also sign to be held to pay damages if the collector disappears.

The recipient: The keke rider is bound to

  1. Provide valid I.D
  2. Verifiable residential address
  3. Two sureties with verifiable addresses who will also sign to be held to pay damages if the collector disappears. This surety may also be 2 other keke riders.

The Mini bus scheme allows users to own a Mini bus for a period of 18 months with an equity contribution of at least 500,000 naira. At the end of the period, the investor would have made Returns on their Investment of about 150% (41,500 naira monthly) while paying back their capital and interest to us monthly.

Here is how it works.

  1. User requests to join the scheme with 500,000 naira
  2. User is matched with a driver
  3. User signs contract and provides remittance account info
  4. User leaves the rest to us and gets their monthly returns
  5. User token is unfrozen after SpottR deducts our investment and makes remittance to the investor.

Collections: SpottR works with NURTW agents and other pre-signed agents in Major cities who maintain a register of drivers under our scheme and collect the remittances and make deposits to us. The collector must provide valid ID, valid residential address, two sureties with verifiable addresses who will also sign to be held to pay damages if the collector disappears.

The recipient: The Mini bus driver is bound to

  1. Provide valid I.D
  2. Verifiable residential address
  3. Two sureties with verifiable addresses who will also sign to be held to pay damages if the collector disappears. This surety may also be 2 other Mini bus drivers.

The Uber scheme allows users to own a car with an equity contribution of at least 30% of the value of the car. The investor repays the capital and interest to us monthly.

Here is how it works.

  1. User requests to join the scheme with 30% equity
  2. User is presented with a list of drivers in our database so they can interview and match with a driver. This is an option.
  3. User makes their monthly repayments
  4. User token is unfrozen after user successfully completes repayment else
  5. If a user makes 2 consecutive defaults, SpottR triggers 1st warning and if the user defaults 2 more times following that, they forfeit their tokens. If a user makes remittance after the first warning, they will get a warning immediately after a default and will lose their tokens on the second one.

Collections: SpottR isn’t committing extra effort to collect capital and interest payments

The recipient: The prospective driver is bound to

  1. Provide valid I.D
  2. Verifiable residential address
  3. Two sureties with verifiable addresses who will also sign to be held to pay damages if the collector disappears. This surety may also be 2 other uber drivers.

Our production scheme allows users to invest in various production endeavors for a period of 12 months with an equity contribution of at least 100,000 naira minimum. At the end of the period, the investor would have made Returns on their Investment of about 100% while paying back their capital and interest to us monthly.

The various production investment include;

Plantain chips, Chinchin, peanuts

Here is how it works.

  1. User requests to join the scheme with 100,000 minimum
  2. User is matched with a production business
  3. User signs contract and provides remittance account info
  4. User leaves the rest to us and gets their monthly returns
  5. User token is unfrozen after SpottR deducts our investment and makes remittance to the investor.

Collections: SpottR works with production/facility owners and managers who own production businesses who make remittance to us and we in turn make remittances to the investor. The business owner/manager must have insurance and must sign a contract to make remittances to us with no more than 1 period/month default.

Condition: Producers must show proof of off take and/or distribution channel

The recipient: is bound to

  1. Provide valid I.D and business registration document if he/she is an individual
  2. If they are a business with up to 6 months operation, provide business registration document and sign with 2 directors.
  3. Residential address
  4. Two sureties with verifiable addresses who will also sign to be held to pay damages if the collector disappears. The surety will be determined on the spot

Our importation scheme allows users to buy slots in single or multiple import streams with an equity contribution of at least 100,000. In the end, the investor would have made Returns on their Investment of about 15% in 37 days. Repayment is not predefined.

Here is how it works.

  1. User requests to join the scheme with 100,000
  2. User is matched with an importer
  3. User signs contract and provides remittance account info
  4. User leaves the rest to us and gets their returns
  5. User token is unfrozen after SpottR deducts our investment and makes remittance to the investor.

Collections: SpottR works with importers who will make remittance/deposit to us where we in turn make remittances to the investor. The importer must have insurance and must sign a contract to make remittance to us on the approved dates.

Condition: Importers must show proof of off take and/or distribution channel

The recipient: is bound to

  1. Provide valid I.D and business registration document if he/she is an individual
  2. If they are a business with up to 6 months operation, provide business registration document and sign with 2 directors.
  3. Residential address
  4. Two sureties with verifiable addresses who will also sign to be held to pay damages if the collector disappears. The surety will be determined on the spot

Our phone importation scheme allows users to buy slots in single or multiple import streams with an equity contribution of at least 150,000 – 2,000,000. In the end, the investor would have made Returns on their Investment of about 25% while paying back their capital and interest to us based. Repayment is not predefined.

Here is how it works.

  1. User requests to join the scheme with 150,000
  2. User is matched with an importer
  3. User signs contract and provides remittance account info
  4. User leaves the rest to us and gets their returns
  5. User token is unfrozen after SpottR deducts our investment and makes remittance to the investor.

Collections: SpottR works with importers who will make remittance/deposit to us where we in turn make remittances to the investor. The importer must have insurance and must sign a contract to make remittance to us on the approved dates.

Condition: Importers must show proof of off take and/or distribution channel

The recipient: is bound to

  1. Provide valid I.D and business registration document if he/she is an individual
  2. If they are a business with up to 6 months operation, provide business registration document and sign with 2 directors.
  3. Residential address
  4. Two sureties with verifiable addresses who will also sign to be held to pay damages if the collector disappears. This surety will be determined on the spot.

Indicate interest

    Sex

    CLIQ Token distribution now in progress
    This is default text for notification bar