Bimzukash bridging the gap in access to loans

At a time when Nigerians are feeling the heat of financial difficulty, an online loan company, Bimzukash, is offering subscribers of its loan app unfettered access to loans up to the tune of five million naira with easy repayment plans.

Bimzukash, which began operation in 2021, has built a reputation as a reliable online lender with its salary advance and business loans popular among Nigerians, leading to over 1,000, 000 transactions in the last six months of 2022.

The CEO of the company, who spoke recently during an Instagram live chat, attributed the popularity of Bimzukash to several factors which he said are comparative advantages of Bimzukash over other online loan companies.

According to him: “If you check our ratings and reviews on google play, you will notice that customers are saying good things about us. From most of the comments, many customers are attracted to Bimzukash because they get their loans in a very short time, just a few minutes after applying and that is because we are available online 24/7, and our app is compatible with either android phones or iPhones. In fact, anyone with a phone can get a loan from us; just go to www.bimzukash.com or download our app on google play store or apple store.”

Verifying the claim that Bimzukash gives customers as much as five million naira, the CEO clarified thus:
“Yes, we give up to N5 million. We give people who apply for loans for the first time as much as N100,000 and even as high as N1,000,000, although, that exact amount depends on the health of applicant’s bank statement. No other loan app gives that much at first instance. Our interest is also low and the repayment plan is the best you can get online.”

Several questions were raised during the Q&A session of the live chat.

On the question of online loan companies’ harassment of borrowers, the Bimzukash CEO said his company doesn’t have issues with customer repayment. “In the first place, we give credible and verified customers and we trust our clients to repay. So far, we have not had any repayment crisis,” he stated.

Another question was about many loan companies rejecting loan requests or offering far lower than customers want.

The Bimzukash owner clarified: “Different loan companies have different purposes for starting a business. In our case, the purpose of the Bimzucash loaning service is to provide steady funds to indigenous businesses and working-class people who might be in need of salary advances. We also consider salary earners who frequently find themselves in a situation where they could use salary advance. This is why we are empathetic to our customers and we do not exploit their vulnerability.”