When it comes to obtaining loans from banks in Nigeria, the process is never easy. But recently, obtaining loans has been easier than ever before, as a number of FinTech startups have sprung up to attend to this need, allowing Nigerians access funds whenever they need it.
eFinance is one of the few startups providing quick and easy loans to Nigerians. The platform is financial services provider offering short term loans between N100,000-N2,000,000 to customers with evidence of monthly income.
Users who want to obtain loans can have their funds within a short while by simply showing valid means of identification (Work ID & Government Issued ID), bank statement for the last 6months and letter of employment/last promotion.
Following application approval, users then confirm the amount and duration they are most comfortable with by using an online calculator available on the platform. The eFinance team then send a notification if your loan application is successful or not. If successful the requested loan is deposited into users’ account within 24 hours of the approval.
The eFinance team promises to give loans that are free of additional charges to monthly repayment if all payments are made once due on time, and claims to process loans quickly.
With the difficulty of accessing loans in Nigeria, eFinance, despite having a number of competitors, has a chance of winning the hearts of millions of Nigerians who are ready to do all it takes to access funds.