Do you need a quick loan to run a small business or investment? If yes, don’t look far, we know a platform that could borrow you between ₦5,000 to ₦150,000 monthly @20% interest.
But before we tell you about this platform, you need to understand the major difference between a good debt and a bad debt.
What is a good debt?
A good debt is money borrowed to invest in a business or assets that generates cash flow every month.
What is a bad debt?
A bad debt on the otherside is money you borrow to pay expenses or purchase gadgets that don’t earn you any money. They take money away from you every month.
If you borrow money 💰 to buy an apartment and put it out for rent, it’s a good debt. However, if you bought a car with the loan, it’s simply a bad debt as it doesn’t generate any income.
If you still don’t understand this basic concept of good debt and bad debt😂, pls stop reading this article now! There’s no point borrowing money in the first place if it would only make your life worse.
I’m saying this because have seen family members do this again and again. You should not be next 9CF family that would do this🤔.
Moving forward – the platform that allows you to borrow quick loan in Nigeria without any collateral is called Kwik Money.
For new users, the loan starts from ₦5000 and payback ₦6000 within 2 weeks. That’s 20% interest rate, which is not that bad considering the small amount you’re borrowing.
Note: We’re not advising you to borrow large sum of money eg. ₦1,000,000 at a 20% interest rate every 2 weeks. Nobody does that. You may end up not being able to pay.
Back to Kwik Money 💰 – if you end up paying the ₦5000 loan plus interest within 2 weeks, you would be qualified to borrow an higher amount. Let say ₦15,000 for a month.
If you also settle this new loan early, you can be allowed to borrow even a greater amount. Let say ₦150,000 for a duration of 2 month.
So how do you get started and borrow loans on Kwik Money? Check it out below👇👇👇.
3 Steps to Borrow Money on Kwik Money.
#1 First, you register your phone number here 👉 my.kwikmoney.com
#2 Next, you choose check loan offers
#3 Then you choose the amount you want to borrow
#4 After which you add the bank account you want to use to receive the loan 😊
#5 Finally, you add your debit account so you can automatically pay for your loans. And BOOM! you get the loan🤸🤸🤸.
Another unique feature on Kwik Money is that you can lower your interest rate. Who doesn’t want that?
How to lower your interest rate on loans
A frequently asked question by people seeking loans is “what is the interest rate like?”. Everyone wants low-interest rates and the best way to lower the interest rate on a kwikmoney loan is through referrals.
Here are the simple steps to follow:
- Get a kwikmoney loan
- Repay on time
- Refer a creditworthy friend
After those steps, the reduction of your interest rate depends on the friends you have referred to. If they repay on time, you qualify for an interest rate reduction. Yes, it’s that easy.
Hope you’ve learnt something new today. Kindly share your thoughts about getting this loan in the comments below👇👇👇.