Financial Technology or as they're known and called FinTech Businesses are increasingly taking over the Lending Industry and most of them offer Quick, Easy, Short Term and Convenient loans without requiring any form of Collateral.
Unlike the Traditional Banks that offer loans to customers with relatively high interest rates, almost impossible to complete paperwork including request for guarantors and usually unavailable collateral, these FinTech companies provide soft and short loans in very simple and easy to achieve ways.

One the recent ones now making waves in the industry is Borome. Arguably one of the most catchy names for FinTech Loans – as it speaks directly to its mandate and motive, Borome provides Loans ranging from N10,000 to N100,000 to first time Customers for a maximum of 30 days at 0.9% daily interest rate.

According to Borome, many Nigerians require Financial assistance in so many ways. It may either be to afford medications in cases of emergency, purchase food from the market or to for small businesses that may need to purchase goods. The fact is that most of the time, the money is needed urgently and banks cannot meet such urgency as their processes and requirements take time to satisfy.

Borome operates a Web-Based platform. A user Registers on the website and a valid phone number is verified. Next is completing of personal details like Bank Details, Occupation, Next of Kin, Address and Social Media information. A Valid ID is to be uploaded then amount requested for. Once these are done the User applies for the Loan and is considered to either be Approved or Declined. Once approved the user receives the funds almost immediately.

Important to note is that Borome operates a Credit score system where Trust is developed and increased rewards are given. Different scores for Paying before due date, Paying on due date and Paying when overdue and this affects the users next loan request. Trusted users can then receive higher loan amounts and more flexible duration which will grow to become in installments.

Borome has plans to provide secure and very reliable loans to focused groups and plans are underway already to move to a Mobile Application platform where users can request for Loans direct from their phones through the App.

Find borome @ www.borome.ng
Contact them on 0817 566 6000