Sofri (powered by Links Microfinance Bank) has launched Sofri Nano Loans, an innovative digital lending service now available on the enhanced Sofri app.
This new feature is designed to provide quick and convenient access to loans ranging from ₦5,000 to ₦100,000, specifically addressing short-term financial needs.
Whether facing an unexpected expense or handling everyday costs, Sofri Nano Loans offer a flexible, reliable solution to bridge financial gaps.
Through a streamlined application process, users can complete loan requests and receive funds in as little as five minutes.
The Sofri Nano Loan feature offers flexible repayment terms, spanning from 15 to 180 days, allowing borrowers to select a timeline that aligns with their financial plans.
To qualify, applicants must have an active Sofri account, completed KYC verification, and a positive credit history. Additional criteria include being between 18 and above and residing in Nigeria. Sofri’s decision engine, equipped with a proprietary credit algorithm and integrated fraud detection from third-party bureaus, manages the loan approval process by assessing each applicant’s risk profile. Users who meet all requirements are presented with multiple loan offers, allowing them to choose terms and interest rates that best meet their needs.
Once an offer is selected, users set up a debit card for automatic repayment, and upon confirmation, the loan is disbursed, providing immediate access to funds. Repayment is simple and convenient, with the loan account automatically closing once full repayment is completed. All of this is done within minutes!
Deputy MD of Sofri, Paul Adebayo, highlights the goal behind this new feature, “With Sofri Nano Loans, we are not just providing financial assistance, we are enhancing the way customers address their financial challenges. Our aim is to ensure every user has a seamless experience and fast access to funds when they need it most.”
This new addition underscores Sofri’s commitment to a smooth, accessible, and secure financial experience. Now available for download on the App Store and Google Play, the updated Sofri app empowers users to achieve financial stability with ease, helping them manage their finances confidently and effectively.
