What is this naija loan about!
Okay, hold your horses.
Naija loan is a member to member lending platform, with a vision of creating wealth with minimal risk to their members.
Wow the one that gets to me is that as a naija loan member, you can earn up to N120,000(one twenty thousand naira) monthly, while starting with just N1000(one thousand naira).
I’ve said the sweetest part of it now let’s know how it works below;
How naija loan works
NaijaLoan is an innovative member-to-member lending platform where all members are lenders and borrowers at the same time.
Member-to-Member lending means whenever you are giving a loan, you are giving it directly to a member on the platform, and whenever you are requesting for a loan, another member on the platform will give you the loan directly. We are the middle-man that connects everybody.
That is, we are not the one giving you the loan, neither are we the one borrowing from you.
But how can all members be lenders and borrowers at the same time? That’s tough to answer, but you will get it, do not worry. Scroll down to the next question for explanation. Quite tricky right?! Let’s move on.
How does lending and borrowing work?
As I said before , all members on Naijaloan are lenders and borrowers at the same time.
That means, whenever you give a loan, you are also borrowing from the platform. So let’s say you give a loan of N5,000 (on level 2), you will get N10,000 back (the N5,000 you gave + N5,000 interest). But at the same time, it means not only are giving a loan of N5,000, you are also borrowing N10,000.
You are confused right? Don’t worry. It will get simpler.
Here is the scope. You gave a loan of N5,000 in order to get N10,000 right? That’s right. You will get your N10,000 without stress. But whenever you upgrade (let’s say from level 2 to level 3), you will have to pay back the N10,000 you are owing the platform (that N10,000 we said you borrowed). And that N10,000 you paid will upgrade you to level 3, where you will get N20,000 in return.
So in other words, you paying N10,000 to move from level 2 to level 3 means you have paid back the money you borrowed & you are also giving a new loan at the same time.
In summary, whenever you give a loan on NaijaLoan, you are borrowing & lending at the same time, simple!
How can N1,000 turn to N120,000 in just a month?
Naija loan operates as a progressive level system and this is what enables your N1,000 to turn to N120,000.
Naija loan so far has 79,278 members and has paid out N47,159,000. Really this is incredible.
Najia loan is a grade by grade and you’ll need to pass this by starting from level one to the final stage which is level 6 to be able to withdraw your earnings.
If you have any questions concerning naija loan do bring down to the comment box, I’ll do well to reply as quick as possible. We most make this money while sitting at home!
While not take this opportunity a go!
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