How To Get Loan In Nigeria 2021

How To Get Loan In Nigeria 2021

How To Get Loan In Nigeria 2021

Loans can be acquired for two main reasons – business and household spending but regardless of whatever the reason is for needing a loan, the fact remains that loans in Nigeria are expensive and, oftentimes, out of reach.

Many young Nigerians are at the receiving end of the reach issue as they are mostly unemployed and do not possess the standard collateral required to access loans from banks and other financial houses. $B opportunity for fintech innovators and blockchain based projects to innovate around.

One such innovation is the SpottR ecosystem which gives loans to any and everyone with interest rates as low as 3.5% per annum. Using the tokenization model, SpottR will make credit available to business and household consumers when they make an equity contribution of 20% of the value of the intended loan amount. What this means is that users only need to purchase CLIQ tokens worth 1/5th of the desired loan amount which will be held as collateral by SpottR until the loan is repaid. So lets say a consumer needs a loan of N1,000,000, all they need to do will be to download the SpottR app, head on to the wallet area and request a loan of N1m. The system will check that they have CLIQ tokens worth 200k and if they do, it credits them N1m and freezes the tokens worth 200k. SpottR hopes that this move will open up finance to everyone with a collateral or not.

To know more on how this works, visit https://cliqtoken.com/ct-financing/.

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