If you’ve ever taken out a loan, signed up for a credit card, or considered financing a car, you’ve probably come across the term Annual Percentage Rate (APR). At its core, APR is a way to understand the cost of borrowing money or the return on an investment in terms everyone can easily compare. Key … Read more
In March 2024, business loans issued by lending institutions increased by 16.3%, highlighting a strong demand for capital to drive initiatives like expansion. This increase indicates that companies are ready to seize growth opportunities, leveraging business loans to fuel their ambitions. While a business loan can provide you with the required funds, it is crucial … Read more
Applying for small business loans can be a pivotal step in securing the funding needed to start, expand, or sustain your business. However, navigating the loan application process can seem daunting, especially for first-time entrepreneurs. This step-by-step guide breaks down the process into manageable steps, helping you navigate the complexities of applying for small business … Read more
A credit score is a three-digit number designed to rate a person’s creditworthiness. It is typically between 300 and 850, based on one’s credit history, repayment history and other information. It generally reveals the likelihood of a person repaying loans on time. Creditors and lenders in the United States and other countries will use your credit … Read more
If you have taken a loan from a financial institution and are unable to repay or fail to fulfill the repayment obligations due to circumstances beyond your control, that constitutes a bad loan. Definition Also referred to as bad debts, bad loans arise when the borrower no longer pays loans they obtained from a bank or … Read more
You can access at least N250K and as high as N2.5 million as a business loan to support your business, thanks to the partnership between the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the Sterling Bank. Application Update Applicants for the loan who submitted applications in November 2023 have now had their … Read more
Providing borrowers with access to funds is the main purpose of crypto loans and traditional loans, but they differ in terms of collateral, interest rates, credit checks, loan terms, access and approval. This article explores crypto lending vs traditional banking lending, looking at what sets them apart such as: What Are Crypto Loans? Crypto loans are a newer … Read more
You may have heard of FHA loans, VA loans, or conventional loans, but have you ever heard of a jumbo loan? If you’ve never heard of a jumbo loan before, you may be wondering what it is and how it works. In a nutshell, a jumbo loan is a financing option for high-dollar homes that … Read more
When it comes to getting a personal loan, a personal loan emi calculator is an essential tool for determining your repayment plan. EMI stands for “equated monthly installment,” and it is the amount of money you will be required to pay back each month to repay your loan. An EMI calculator will help you understand how … Read more
There are 173 legitimate loan apps in Nigeria, according to the latest approval notice issued by the Federal Competition and Consumer Protection Commission (FCCPC). Out of the 173 loan apps that got the green light from the consumer protection agency, 119 of them got full approval while 54 of the digital lenders got conditional approval. … Read more