We are building Loanith, an instant and revolving consumer credit app for adults with prrof of resurring income and a validated peer network.

Loanith is making access to credit affordable, inclusive and flexible. Current credit providers have rigorous onboarding and underwriting, request for collateral, are expensive with up to 250% interest rates per annum, and force users to a rigid repayment plan.

Combining a smartphone app with a credit card model, we make onboarding easy, leveraging on existing KYC information from users bank account. As much as users have evidence of recurring income as shown in their bank statement, we provide a revolving credit limit they can use on demand. Usage of limit include Bill Payments, Cash Advances and Balance Transfers to other Users on our Validated Peer Network.

Customers benefit from a 90 days grace period, in which if they are able to clear their credit balance without interest obligations. However, after 90 days, any uncleared balance is rep...
We are building Loanith, an instant and revolving consumer credit app for adults with prrof of resurring income and a validated peer network.

Loanith is making access to credit affordable, inclusive and flexible. Current credit providers have rigorous onboarding and underwriting, request for collateral, are expensive with up to 250% interest rates per annum, and force users to a rigid repayment plan.

Combining a smartphone app with a credit card model, we make onboarding easy, leveraging on existing KYC information from users bank account. As much as users have evidence of recurring income as shown in their bank statement, we provide a revolving credit limit they can use on demand. Usage of limit include Bill Payments, Cash Advances and Balance Transfers to other Users on our Validated Peer Network.

Customers benefit from a 90 days grace period, in which if they are able to clear their credit balance without interest obligations. However, after 90 days, any uncleared balance is repaid at an applicable interest not exceeding 35% per annum. Repayment is also flexible with as little as 10% of credit balance paid back monthly on a date user specifies.

With the smartphone app, issues surrounding credit card theft, card maintenance fees, damaged cards and card replacement fees, as well as default charges are rules out, reducing the cost to access and service a loan on our platform. This also provides more inclusive service, with improved security.
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Employees

Emmanuel Okpala
Admin
Emmanuel Okpala CEO Architect ☝️| Urban Designer 👍 | Climate Smart Serial Entrepreneur 🧗‍♂️ | UrbanSphere, ZEET, Loanith, REChest 🏋️‍♂️

Recommendations

Emmanuel and the Loanith team have recognized that the lending infrastructure in Nigeria is broken and the financial gap is enormous. The Loanith platform empowers the everyday consumer to better manage their credit and gain control over their financial health. I commend them for seeking to create a more financially equitable world.