“My loan request got rejected!” No problem! Unlock Secured Line of Credit with Borderless Credit

The scariest part of applying for a loan is being ineligible to access the loan, due to your reduced credit score which cannot cater for the amount you have applied for. This poses a lot of financial restrictions for business owners seeking to leverage credit as a means to scale their businesses and expand their product offerings to their customers.

“My loan request got rejected!”

“I am not qualified for the loan amount!”

“My credit score is very low and I can’t top up my loans!”

This is the nightmare many borrowers face across all loan platforms and why it is impossible to diversify credit faster to various ecosystems.

According to a survey by Enhancing Financial Innovation and Access (EFInA) in 2020, only 16.8% of Nigerian adults have access to formal credit products from financial institutions, while many rely on informal sources of credit from their family and friends or moneylenders. This is largely due to a lack of financial inclusion and limited access to credit for individuals who do not meet certain eligibility criteria. Many lenders say most of these applications are from borrowers with low credit scores and do not qualify for the loan amounts in their applications. These borrowers with low credit scores are seen as high-risk by lenders, thereby restricting them from securing a loan from these loan platforms. Therefore, there is a need to develop alternative credit scoring models and implement processes that encourage financial inclusion for all Nigerians.

At Veend, we understand the urgency of these loan applications, and borrowers’ desires to access these credit quickly. We also understand the need to facilitate credit to borrowers who are eligible and credit-worthy to access these loans. We have devised ways to expand your credit opportunities so you can access maximum credit whenever and wherever you need it. Borrowers can access a #50,000 credit limit through a secured credit line backed by a refundable deposit from their guarantors. What is most interesting is, the guarantor gets a 5% cashback on the deposit secured for the guarantee. With each repayment, the borrower unlocks more opportunities to access credit up to #200,000 and more. More importantly, the borrowers can build their credit score which unlocks future financial opportunities with ease. Everyone wins!

The big question is, how can one unlock borderless credit?

The steps are as simple as sending an email. Scratch that, let’s stick with as easy as ABC.

• Click on Get Started to begin your application.
• Input the amount of credit you want between ₦‎10,000 – ₦‎50,000
• Add the details of your guarantor abroad.
• Proceed to create your account on Veend and get verified.
• We will reach out to your guarantor for a refundable deposit.
• Once secured, you will get a credit card with funds you can always access as quickly as you want.

Easy-peasy!

Veend is in the business of democratising credit to every part of Africa, and we are only just getting started. With borderless credit, we are enabling financial opportunities through the community. To leverage individual networks and communities to create a credit system where everyone wins. The goal is to provide limitless credit opportunities for individuals and businesses for a credible financial Africa. Interested in leveraging this solution and unlocking access to borderless credit, hurry and get started HERE