Free-to-use Nigerian lending app
Free-to-use Nigerian lending app
Vote: (1 votes)
Program license: Free
Version: 1.0.8
Works under: Android
Vote:
Program license
(1 votes)
Free
Version
1.0.8
Works under:
Android
Pros
- User-friendly Interface
- Quick approval process
- No collateral required
- Industry-grade data protection
Cons
- Disbursement delay complaints
- Limited initial loan amount and terms
- Auto-debit repayment might go unnoticed
Continuous Borrow is an application providing quick, uncollateralized personal loans to Nigerians.
Amply User-friendly Interface
Continuous Borrow is a financial platform designed to offer its users an opportunity to avail of loans from recognized financial establishments across Nigeria. This platform provides the leverages of unsecured loans up to 600,000 Nigerian Nairas, it is specifically handy for procuring micro and mid-term loans. The app is developed considering both tech-savvy and not so tech-savvy population, who finds its three-step procedure conveniently manageable. However, it follows a stringent loan approval regime, which although ensures legitimacy, might take a while to give green light and is noted to have a moderate clearance frequency.
The Convenience of Application
Before delving into loan application, each prospective loanee is required to undergo registration on the Continuous Borrow application. This follows a process that includes validation of the user's Bank Verification Number (BVN), to ensure uncomplicated, secure and direct service. The registration process spares the chaos of document scanning and uploading, applicants need to fill in the required information in the specified fields. The platform offers flexibility in choosing loan amount and repayment terms, approval speed is usually swift for registered users, with approvals even reported within the five-minute mark. The loan selection and disbursement process is as straightforward as picking the amount, tenure, and nominating the bank account for funds. Highlighting one of the strongest points of Continuous Borrow which is its provision of unsecured loans, meaning, no collateral is needed to attain the loan approval. Furthermore, this application guarantees industry-grade data confidentiality.
Approval to Disbursement
While the approval process is notably fast-paced, the disbursement phase has seen polarizing feedback, with users recounting their funds being delayed by days or, in certain instances, weeks. Fresh users might find the platform slightly unnerving offering limited loan amounts and narrow terms initially. Moreover, the default repayment scheme includes an automatic deduction from the borrower's account, which could impose a charge unknowingly.
A Popular Choice but Debatable Convenience
Irrespective of the constant influx of lending programs, Continuous Borrow has managed to retain its popularity among the available options, owing to its elasticity in loan magnitude and repayment tenure, coupled with speedy approvals. Yet, the disbursement and repayment processes appear to be stumbling blocks for certain users, due to the occasional delay in funds' availability and the automatic debit repayment that could often be unanticipated. Hence, it is pertinent for users to handle the application with informed discretion and a thorough understanding of its processes.
Pros
- User-friendly Interface
- Quick approval process
- No collateral required
- Industry-grade data protection
Cons
- Disbursement delay complaints
- Limited initial loan amount and terms
- Auto-debit repayment might go unnoticed
