Leonard lives in the United Kingdom and his parents immigrated from Nigeria when he was 10 months old. His parents encouraged him to study and work hard. Today, he is happy to help his family back in Nigeria.
Leonard used to send £500 on a regular basis to a cousin in Nigeria to help him with his business. He doesn’t do that anymore. He is now using SympliFi to help his cousin access low interest working capital loans from Alert Microfinance Bank in Nigeria, which has enabled his cousin to grow his business by 50%.
Over the course of a year, Leonard’s cousin has been able to get continuous access to credit of up to ₦8 million from the bank, thanks to the refundable deposit Leonard held in his SympliFi wallet as collateral. His cousin used the bank loans to expand his transport business in northern Nigeria, and now he’s able to access loans on his own.
“My cousin dealt with the bank directly. It’s hassle free. Helping your friends or family get access to credit through SympliFi is moving away from dependence to empowering.”
Using SympliFi, Leonard has helped his cousin improve his livelihood and has also earned £250 in cash rewards for doing so.