One of the biggest challenges for entrepreneurs is access to finance. Securing funds through a traditional bank loan is increasingly challenging and frustrating.
However, with the introduction of KiaKia loan, many individuals and businesses have been saved.
Kiakia loan is one of the leading financial market-place offering a wide range of funding options to users, including working capital loans, merchant cash advances, equipment financing, invoice factoring, and loan terms.
As the name implies, Kiakia lending app that grants short-term and quick business and personal loans.
KiaKia loan makes it very easy to access money in Nigeria without any collateral or excess documentation.
About Kiakia Loan App
Launched in 2015 by Chimeziem Anyadike and Olajide Abiola, Kiakia is a Nigerian loan app that offers flexible loans to users.
The money lending fintech startup was introduced to promote financial inclusion in Nigeria and make finances accessible to individuals who are considered ineligible by traditional financial institutions.
Besides, Kiakia is a peer-to-peer lending platform. Individuals and businesses who wish to lend money as an investment are paired with the best match from the pool of people who needs to borrow money.
This fintech startup uses a credit scoring algorithm to analyze people’s track financial history and determine their credit-worthiness.
Kiakia Interest Rates
Just like Okash loan, Kiakia offers a huge interest rate when it comes to online lending, ranging from 5.6% to 24%.
And the loan has to be refunded within 7 to 30 days. Most often, the interest rates are determined by individuals’ loan risk and creditworthiness.
What are the requirements to Get a Loan?
Before securing a loan from Kiakia, you have to meet the eligibility requirement needed by Kiakia. Below are the eligibility requirements for getting funding from Kiakia.
- Valid means of Identification
- A bank account with Bank Verification Number
- Proof of income from the workplace or business
- A working email address
- You reside in Nigeria
- You must be 21 and above
How to Apply for KiaKia Loan
You can now apply for KiaKia loan via its official mobile app. It’s quite a straightforward process from the application to the point where you get the money.
All you need is to follow the following instructions outlined below:
- The first step to take when applying for KiaKia loan is by downloading the KiaKia Loan app via the Google Play Store.
- Then, create an account with your accurate details.
- Start an application chat on the app
- Then, upload a valid means of identification
- Enter your desired loan amount
- Select the loan duration
- Upload a screenshot of your last 3-month salary or business income notification
- Accept the loan terms and conditions for the application to get approved
- Then wait for a few minutes, your cash is ready!
How Much can you Borrow From KiaKia App?
With KiaKia loan, you can borrow up to N200,000 depending on your credit score, records, and loan risk.
Does it take longer to process Kia Kia?
No. It takes less than 24 hours to review and process your loan application. KiaKia loan is one of the fastest digital lending platforms in Nigeria.
What Happens when you fail to Repay your Loans?
Failure to repay loans on the due date will attract severe penalties as you might be reported to the credit bureau of Nigeria.
Moreover, you might pay additional fees depending on the length of days you defaulted or possibly banned from securing loans from other loan platforms in Nigeria.
Searching for a fast and reliable digital lending platform? Kiakia is your best bet.
KiaKia is one of the best loan apps that I will recommend to anyone looking for a loan for emergency and great customer support.
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