In cases of low cash flow, it is normal for entrepreneurs to take out a loan and finance their business. But it’s not as easy as it sounds to get a loan from a bank.
This is why many entrepreneurs choose to take advantage of platforms for obtaining loans without having to worry about them.
Lidya is a fintech company which provides financing to small and medium-sized enterprises in need. In order to assist these businesses in managing their financials digitally, it also provides them with business management tools.
What Is Lidya Exactly?
In frontier and emerging markets, Lidya is a financial institution that provides access to finance and credit for individuals. In essence, they make loans to business owners who need them.
The company will also provide the business owners with a platform enabling them to use appropriate tools for managing their cash flow. The platform makes it possible for such companies to create credit scores that enable them to access more flexible financing options at reasonable interest rates.
In 2016, the privately held organization was set up in 5 countries and 3 continents. The list of countries includes Nigeria, the USA, Poland, Portugal, and the Czech Republic. In short, they’re just offering individuals credit scores, working capital, and financial technology services.
What Does Lidya Have to Offer?
The following services shall be provided to small and medium-sized enterprises by this credit facility:
Finance your needed capital
The company will provide you with loans to allow your business to function smoothly and develop more effectively, which will result in increased revenue. In addition, you can get loans from them only on the basis of cash flow in your bank account, and no collateral is required. That’s another added advantage.
Raise your cash flow
You have the option to convert your invoice into a source of income through this platform. It is therefore not necessary to await receipt of your invoices in order to pay the costs or acquire a new business.
Digital finance handling
You’ll be alerted to all your financial details immediately after selecting this platform via an automatic notification in your email. It includes the status of your loan process, automatic invoicing tracking, and a reminder that you should ask customers about payments.
Tools for business management
You can take care of all the things that are connected to your business such as customer lists, invoices and loans on this digital platform. It’s also very safe, and secure and protects your private information from hackers and security breaches.
Registration Process for Lidya
In three simple steps, you will be able to register successfully on this platform. They include:
- You can visit their Official Website. You can check for the link to their platform below:http://www.lidya.info/
- Next, click on the signup button in the toolbar.
- Also include the following information: First name, last name, phone number and email address.
Loan Application Process on Lidya
The following steps must be followed when applying for a loan:
- Step 1. Create an Account. In less than five minutes, you will be able to create your profile.
- Step 2. Select a loan type in the next step. In line with your needs, decide which type of credit you would like to receive and apply for it.
- Step 3. Finally, you’ll get your loan. You will receive a loan in your account no later than 24 hours after the date of application.
Lydia Loan Interest Rate
The interest rate on Lydia is as follows:
Variable fees for the loans are between 2.44% and 4% and fixed fees from 3% to 4% depending on the amount of the loan, with a maximum of 21.09% APR.
The duration of the loan is between three and 36 months, with maturities which are halved in each individual part.
What Do I Need To Have To Open An Account On Lydia?
You must enter your first name, last name, email address and phone number in order to set up an account.
Is There A Mobile App for Lydia?
No, Lydia has no mobile application of its own. Therefore, you can visit their website for the purpose of applying for a loan or accessing any additional services.
Customer Support for Lydia
You can reach out to Lydia via:
- Website: http://www.lidya.info/
Conclusion
Lydia’s is a company providing instant loans to small and medium-sized businesses, which they can use for financing or expanding their business.
They provide these enterprises with the necessary digital management tools so that they can effectively operate their businesses.
Another benefit is that you don’t need any collateral in order to get a loan. It makes borrowing loans safe, easy and stress-free this platform.
If you have been searching for a good platform to get quick loans from, check out Lydia.
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