Social Lender: Quick loan app based on social reputation

Social lender: Quick loan app based on social reputation

Social Lender is a quick loan lending app based on social reputation on mobile, online, offline and social community platforms. It is designed to bridge the gap of immediate access for people with limited access to formal financial services.

Social Lender uses its own proprietary algorithm to perform a social audit of the user on mobile, online, offline and social platforms and gives a Social Reputation Score to each user. Financial Services are guaranteed by the user’s social profile and network.

Users gain access to services like credit, savings, leasing and much more from banks and other organisations based on their social reputation.

The platform is best for anyone looking for an unsecured personal quick loan, students and individual’s ineligible for typical bank loans due to thin credit files.

Quick loans from social lenders are designed to be short term loans of N10,000 to N100,000 that are designed to tide you over to the next payday.

Pros

Quick loan approval process
Loan based on social media profile

Cons

Low maximum loan
Short loan time

Features of quick loan from Social lender

1. The user’s Social Reputation Score is calculated using our proprietary Social Algorithm.

2. Users with a minimum social reputation score (see scoring) are eligible for Cash requests.

3. Additional Social Collateral and Social Guarantors can be provided by user for validation.

4. Cash requests are granted to eligible users after extensive Social Audit is carried out on the user.

How to get started

Visit the Social Lender Web App from your internet browser to apply for Cash. Available Clients are:
Sterling Bank (Nigeria) sterling.sociallenderng.com, Absa Barclays Bank (South Africa) absapoc.sociallender.co.za,
iTrust (Nigeria) itrust.sociallenderng.com.

Applying for Quick Loan Through SMS

Get a loan of up to N10,000 guaranteed by your social reputation. Just text SOCIALLENDER + [SPACE] + AMOUNT to 30812. You can also register and obtain a Social Reputation Score via our SMS2Loan Solution.

Applying for loan Through USSD
Dial *348*3# to access our USSD2Loan Channel (available in Nigeria for now).

How Social Lender Works

The process of using Social Lender to make a cash request is quick and simple. Registered Users on the Social Lender Platform can click the Apply for Cash button. The cash request page will indicate to the user the maximum cash request they are eligible to at any point in time. The minimum Social Reputation Score required for a new cash request is also indicated.

When a cash request is approved by our Social Credit Officers, the funds is disbursed to the users’ verified Sterling Bank Account.

Registration
To start using Social Lender, users would need to login with their Social Media Profile. Currently, Social Lender supports Facebook and Twitter. Other platforms will be included in the near future.

First time users are required to complete a one-time registration. Upon completion of this registration, a Social Audit will be performed on the user. At the end of the audit the user will be given a Social Reputation Score based on our proprietary algorithm.

The more accurate information provided by the User, the higher the social reputation score. The following information or actions will be requested from the User :

Social lender dashboard
After the registration process, Social Lender computes the user’s Social Reputation Score which is displayed on the dashboard with other links to apply for cash request, profile, Bank Account verification and much more. User may also provide additional information post registration to improve their score.

Quick Loan disbursement process

Before a quick loan request is approved and disbursed, The Social Credit Officers will carry out an extensive Social Audit on the Applicant, including reviewing the social reputation of the applicant and the applicant’s Guarantor(s) (where applicable).

The Social Credit Officer makes the final lending decision on every cash request. Some users may be asked to provide additional “Social Collateral” to qualify for a cash request

If the cash request application is successful, the user is credited via existing banking channels.

To get more information about Social Lender , CLICK HERE.

Register to become our business partner and enjoy our free advisory and consultancy services on getting a quick loan from our list of accredited lending partners and also guide on the process of loan application.

Disclaimer: Quick Loan Arena is not a loan agency and we do not give out loan to anybody. We are however a quick loan review blog that seeks to inform and educate individuals and small businesses about instant loan opportunities to help them take informed decisions.

We also provide loan advisory services, once you become our business partner

. Speak with any of our Quick Loan Consultants for more information! Call or Whatsapp +234 (0)803 385 7245.

Do remember to give us a feedback about your quick loan experience after the lending process is executed.

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About the Author: Susan Adeyemi

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