When they are short on funds, business owners frequently take out loans to fuel their operations. However, getting loans from banks is not as simple as it seems. As a result, many business owners increasingly choose alternative lending platforms to get loans quickly.
And this is precisely where Lidya comes into play.
As the leading loan platform in today’s global market, Lidya offers loans to small and medium-sized enterprises that require it. They also provide business management solutions to assist these enterprises in managing their digital finances.
Here is everything you need to know about how to apply for a loan with Lidya. So, without any further ado, let us dive right in.
A brief overview
Lidya is a leading financial institution that provides business owners access to credit and money in Nigerias. Simply put, we offer loans to struggling business owners.
Additionally, the business offers a platform that equips entrepreneurs with the necessary tools to assist them in managing their cash flow. The platform gives these companies access to credit scores that open the door to more considerable lending limits at low rates.
The privately held company was established in 2016 in the USA with operations in Nigeria. s. Essentially, we focus on offering the simplest and quickest Working Capital Loans for businesses. Businesses can access same-day loans with no collateral in Nigeria.
Step-by-step guide on how to apply for a loan with Lidya
Application for your loan
You need to apply for a loan on the Lidya platform to get things started. To assess if you or your business is eligible for a loan, you need to submit some information on your business along with your application. This will include your bank statement or to link your bank account.
Let us analyze your transaction data.
Lidya gets a sense of the applicant’s financial soundness by carefully examining the statements. Lidya attempts to gain insight into the business transactions and balance from these statements. These are required to confirm the applicant’s creditworthiness and ability to repay the loan installments on schedule.
In this step, the platform will determine if the analysis result is positive or not.
Get ready for a loan proposal.
If your previous loan proposal comes out positive and your business ticks all the marks for eligibility, you can expect to get a loan proposal from Lidya.
The great news is that all these three steps, from your application to analysis togettingt a proposal, will be completed within 1 to 2 business days. This enables small-sized businesses to scale quickly and never suffer from a missed opportunity due to the lack of funds.
Linking your bank account
If you haven’t done this before, once you get yourself the loan proposal, you can link your bank account to the Lidya Finance on-Demand platform.
No need to offer any collateral for your loan. Simply link your bank account and get ready for the funds to come your way.
Final signing
Once your account is linked, you need to sign the loan documents to finalize the approval from your side.
Loan disbursement
Once you have signed the documents, you will get disbursement from Lidya. Like the proposal, the estimated disbursement time for your loan can go through can be anywhere from 2 to a maximum of 3 business days.
So, get started today and finance your working capital like never before. Stay tuned for more updates.
