From short-term financing to long-term impact: SeedFi’s transformative role in Nigeria’s economic landscape
The evidence of a country’s economic growth is prosperity and opportunity. For the people, economic growth driven by employment will ultimately lead to the emergence of an economically viable population, and calls for improved governance, as it is certain that strong economic growth fosters human development. The pressure should increase.
In addition to economic growth being the most powerful means of reducing poverty and improving quality of life in developing countries, individuals and small businesses need access to financing to handle the basic investments that sustain them. Because their options are limited, they are struggling to fulfill their role.
In an attempt to change the situation, the Central Bank of Nigeria (CBN) has mandated traditional banks to provide 60% of their deposits as loans to stabilize the economy.
Despite imposing fines on banks that fail to meet their quotas, it remains difficult for banks to meet their targets, mainly due to various bottlenecks posed by lenders, while individuals and business owners find it difficult to access financing. It’s still a tough job to do.
This has given rise to the creation of financial institutions that seek to play a vital role in changing the negative situation, stimulating economic activity and promoting financial inclusion.
One is SeedFi, a digital-first lending company that has emerged as a catalyst for economic growth in the country by providing short- and long-term basic loans to both small and medium-sized enterprises (SMEs) and individuals.
At SeedFi, we believe that small businesses are the backbone of a thriving economy and contribute significantly to employment and innovation, so supporting them is a must for their long-term success. It focuses on inclusivity and accessibility, and argues that supporting small and medium-sized enterprises financially will ensure their long-term sustainability.
Another feature of SeedFi is its flexible repayment terms, which allow SMEs to flexibly manage their cash flow effectively, and by adjusting repayment terms to suit the business cycle, it provides stability and stability for SMEs. Contribute to growth.
Perm Ali, Founder and CEO He said he wanted to be dependable. SeedFi bridges the gap by offering an easy application process and approvals in record time, making funding more accessible.
“By offering basic loans with competitive interest rates and flexible terms, SeedFi is reshaping the lending landscape one customer at a time. Whether you’re an individual or a small business owner looking for financial support, SeedFi can help you on your financial journey.
“Capital injections allow SMEs to strategically expand their operations, explore new markets, and invest in technology. This not only benefits them but also contributes to overall economic expansion.” Yes,” Ali added.
SeedFi co-founder Samaira Dogara said providing financial support to individuals also means a lot to them as the company helps address short-term financial needs. . He enthuses that these essential loans empower individuals to weather life’s uncertainties, whether it’s for medical bills, unexpected expenses, education or home renovations. Ta.
He said the company’s short-term loans are designed to provide immediate access to relief funds in times of financial emergency by ensuring a quick and hassle-free application process, allowing individuals to access relief funds when they need it most. He said the funds can be accessed at any time.
Dogara said short-term loans act as a financial safety net to help individuals manage emergency expenses without long-term burdens, thereby increasing financial resilience. This increases overall economic stability by allowing individuals and businesses to more effectively weather economic shocks.
SeedFi’s positioning has been praised by satisfied customers such as Omoyeni Disu, CEO of Mwanga Candles and Diffusers, who said: They took the time to explain how everything worked. It took about 2 days from advice to transaction completion. As a business owner, I recommend it. ”
As small businesses grow and individuals overcome financial challenges with their help, there is a positive ripple effect throughout the economy that creates jobs, increases consumer purchasing power, and fuels thriving entrepreneurship. SeedFi claims that this will be determined by the availability of the home ecosystem. A force for sustainable national economic development.
With the proliferation of the Buy Now Pay Later (BNPL) platform, SeedFi believes that citizens can access basic short-term loans to meet their social needs. For more information, please visit:
Source: dailypost.ng