Lending to borrowers is a time-consuming procedure for both lenders and borrowers. This is due to the fact that it requires a complicated set of processes to maintain acceptable security. Fortunately, certain platforms have made this procedure easier for lenders. Lendsqr is a platform that makes lending easier for small and medium-sized businesses. Essentially, they provide lenders with the necessary tools to make this procedure as simple as possible.
- 1 A Quick Look at Lendsqr
- 2 1. Credit Evaluation
- 3 2. Origination
- 4 3. Collections
- 5 3. Disbursements
- 6 4. Green-gating And Red-gating
- 7 Conclusion
A Quick Look at Lendsqr
Lendsqr is a digital financing platform for small and medium-sized businesses that offers innovative features at no cost up front. Essentially, the company assists these lenders in lending at scale via online, mobile, API distribution, and USSD. The technology manages the entire loan life cycle, from application to repayment, making the lending process simple for borrowers.
The firm is privately held and was created in 2018 by a group of financial specialists. You receive access to tools that help you manage your loan business more successfully with this platform.
What kind of services does Lendsqr provide?
Lendsqr provides a variety of loan services to make the loan procedure as simple as possible for you. Among the services offered are:
1. Credit Evaluation
The software allows you to assess the creditworthiness of potential borrowers. In essence, they incorporate a credit scoring algorithm that assesses your borrowers and streamlines your decision-making process. It can also be completely customized to meet your individual needs.
Take advantage of a digitalized loan application process. From paperless loan application channels to algorithm-driven easy scoring and auto loan disbursements and recovery, there’s something for everyone. With this platform, you can easily handle every aspect of your loan business with a stress-free method that ensures your safety.
The platform offers an automatic loan recovery engine that collects your money on your behalf from the borrowers’ account on the agreed-upon due dates. To ensure optimum security, the gathering method is essentially card-driven.
You may regulate how loans are disbursed using this platform. Essentially, this allows you to manually or automatically accept or deny loans.
4. Green-gating And Red-gating
Increase security by putting someone on the block if they don’t pass your preliminary screenings. You may also qualify users for additional benefits and make them eligible for your loans by prequalifying them.
How do I sign up for Lendsqr?
Here’s how to sign up for the loan management system:
- First, log in to their website, www.lendsqr.com
- Next, tap on the ‘sign up for free’ toolbar
- Finally, fill out the registration form with your information and submit it.
To register on Lendsqr, what documents do I need?
A valid identification card, your BVN, and information about your loan business are required to register on our site. Your basic information, such as your name, address, phone number, and email address, are also required for registration.
What is Karma on a Lendsqr?
Karma is the platform’s privately-sourced blacklist engine, which is open to everyone in the Nigerian financial ecosystem. Basically, the purpose of this blacklist engine is to collect, track, and disseminate credit profile data to other partners.
You can secure your loan business from scammers and unethical actors with Karma.
Is there a mobile app for Lendsqr?
No, there isn’t a mobile app for the loan management platform currently. This implies you may use the online platform to access all of their services.
How can I get in touch with Lendsqr?
You can get in touch with Lendsqr in the following ways:
- Address: 4 Perez Dr, Lekki Phase 1 106104, Lagos
- Website: www.lendsqr.com
- Email Address: email@example.com
- Phone Number: +234 1 700 5282
Lendsqr is primarily a financing platform for small and mid-sized businesses. Essentially, this platform gives your lending firm all of the tools it requires to succeed in today’s market. Overall, this platform ensures that the entire financing procedure is safe and simple.
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