SympliFi has partnered with Kredi Bank to launch a digital line of credit to help small business owners in Nigeria with their daily life and business needs, while building their credit history responsibly.
With the new product, Nigerians in the diaspora can help people in their communities back home access the line of credit with Kredi, giving them instant and continuous access to cash, whenever they need it. The line of credit starts with as little as 15,000 NGN (£16), and is a new and easy way to provide financial support, without the need to send money all the time.
For the borrower back home, the product is fully digital and easy to use from any smartphone in Nigeria. Anytime the borrower needs cash, they can instantly access a small loan from the Kredi App and repay it within 30 days. The funds can be used to support working capital needs for business or life emergencies. As they repay, they start qualifying for higher amounts with Kredi.
More than just access to credit, the new partnership also enables Nigerians in the diaspora to help their friends and family back home access a full suite of financial products from the Kredi App to improve their financial well being. Some of the additional benefits include a digital bank account, savings accounts with preferred interest rates as high as 20%, and access to POS devices for business or to become a Kredi agent and start earning extra cash.
The process is completed in seconds on the SympliFi App and provides a lifetime of financial empowerment.
Learn more about the partnership here.