FairMoney offers a different way to borrow money online without collateral – Nairametrics
“Akara and moin moin have the same parent, na wetin dem go through make them different– Proverb from the Niger Delta.
A little over a year ago, in March 2018, FairMoney, an online lending platform launched in Nigeria. Today, by disbursing more than 1,500 loans a day, the company has helped thousands of individuals and small businesses get closer to their dreams and, most importantly, access essential financing made possible by the power of the technology.
Customers access instant loans on FairMoney without collateral, detailed documentation or office visits, which generally makes borrowing money stressful for users.
FairMoney takes customer experience to the next level and has launched an upgraded Android app to reflect this as it enters the next phase of growth. The new FairMoney app is easier to use and reflects the new brand that portrays the vision of providing access to financial services for everyone in Nigeria.
According to Joy Uzuegbu, Head of Growth and Marketing at FairMoney, the short-term loan provider has streamlined its processes and improved the overall customer experience.
How to get a loan on FairMoney
Get a loan on FairMoney is simple and straightforward, as described in a few steps below:
- Download the Android app from Google Play Store
- Sign up or log in with your phone number or Facebook profile
- Create your profile (for new users) and / or submit an application.
- Receive money in your bank account within minutes.
In addition, clients can access higher amounts of up to N 150,000 and 3 month installment loans. Customers with a positive credit history could also take advantage of flexible interest rates.
While Nigerian society has a kind of love-hate relationship with borrowing, the use cases of a product like FairMoney are vast. From personal needs such as paying bills, shopping and family addictions to business loans to start that side business or build a credit profile, FairMoney’s loan product covers a wide range of options.
FairMoney’s The proposition appears to be built around customer focus, secure technology, and speed, which makes sense for an online loan service that doesn’t rely on collateral to reduce loan risk. It is 4.3 stars on the Google Play Store validates this proposition to some extent. If you’re interested in quick, short-term loans that don’t require collateral or office visits, FairMoney is a good place to start.