Lidya: Nigerian online lender is issuing loans to SMEs within 72hours

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Lidya is a new financial services platform created to improve the access of African entrepreneurs worldwide, to finance and credit facilities in order to help them grow their businesses.

The value of the loan on Lidya can be between $500 and $15,000 and credit is disbursed to qualified customers in 72 hours unlike the usual 3-6 months it takes to access loans from the banks and other financial institutions.

According to Tunde Kehinde, co-founder of Lidya: “The overall aim of this platform is to tackle the huge issue of financial inclusion in Africa and to help support the continent’s entrepreneurs.”

Kehinde says “with 600 million mobile subscribers and close to 350 million people online in Africa today, it’s clear that mobile-led, technology solutions are the future of financial services in Africa.  He adds that Lidya will work with SMEs to not only provide capital to grow but also provide data to help entrepreneurs understand and improve the financial health of their businesses.”

Lidya

To apply for a loan on Lidya, entrepreneurs will be required to sign-up on the website.

How it works: OPEN an account, APPLY for a loan and GET PAID within the next 72hours. The platform’s first product is a receivables based loan aimed at SMEs.

Another Lidya co-founder Ercin Eksin, had this to say on the launch: “We estimate the credit gap in Africa to be several hundred billion US dollars.  To unlock capital for customers that do not have access to credit; innovative financial services backed with world-class customer experience must be developed. Lidya is revolutionizing how risk is assessed and how credit is disbursed. We look forward to helping our customers access the capital they need to fulfil their potential. ”

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5 Comments

  1. Peter chuks

    May 7, 2017 at 4:00 pm

    Pls i want to know whether i am eligible for this loan, i am a small business owner

  2. ayim Ferdinand

    January 18, 2018 at 4:28 am

    am also interested, but don’t know am eligible

  3. ismail abdullah

    May 1, 2018 at 12:27 am

    good to no lidya.

  4. Jocelyn Pam Benjamin

    June 1, 2018 at 9:58 pm

    I want a cash loan to expand my business, I buy and sell pesticides and spraying knapsacks

  5. Mike O Keru

    July 20, 2018 at 6:32 am

    We applied for a loan of $209000USD to enable us do our supply, up till now no response from Lidya .tnx Mike O Keru .

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