Renmoney Launches Loan Product for MSMEs

Renmoney, a leading fintech lending company in Nigeria, recently announced the launch of a new solution for self-employed individuals, business men and business women. The new product allows this market segment to access credit of up to ₦4million either via Renmoney‘s website, (www.renmoney.com), contact centre, agent network or branches.

Since inception, Renmoney focused on the employed market and has learnt a lot from this segment and used this to refine their score cards and algorithms to ensure the company continues to make responsible lending decisions.

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Oluwatobi Boshoro, Renmoney’s CEO, said “we’ve always been aware of the need to solve credit challenges for another equally important segment – the self-employed, the business man, the business woman. She added that “we have tested and iterated this product extensively for almost 6 months, reviewed over 30,000 applications and issued over 6,000 loans in the process. We’re convinced this product will go a long way in making financial inclusion meaningful for these micro business owners and impactfully contribute to Nigeria’s goal of a post-oil, diversified economy”

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Renmoney continues to be a key player in the fintech space, focused on solving complex credit challenges and driving impactful financial inclusion for individuals in …read more

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Source:: MediaCraft

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