Tobi Onoja is Fashion Entrepreneur based in Lagos. In her line of business, there are times when she needs to get a customer’s clothes done as fast as possible, and she might need quick access to cash. This made her download a loan app to take a loan. She shares her experience with us on how this went.
The first time I used this particular loan app, I didn’t have any issues at all. I had heard bad stories about loan apps, but I was very broke on that occasion and needed some quick cash.
I went on to Playstore, downloaded the app and filled in my details. My first red flag was when the app asked permission to access my contacts and messages. But, I shoved that concern under the rug as I needed funds. My application went smoothly, and I got the funds. I repaid on the said time.
After then, I made up my mind that I was never going to use it again. I wouldn’t say I liked taking loans from those apps, but there was no other option. I just had to.
I went back a second time, and this was when trouble sparked. I got the loan from the same app; this time, it was much higher. Three days before the loan was due; I got a call from one of the customer agents saying my loan would soon be due. I responded that I knew and would pay up on the due date.
But the agent didn’t want to listen; she pressed me to make the payment that day. I told her I didn’t have enough money to make a payment that day but would pay up on the due date as I was expecting my salary the next day. She was still insistent, and I was already getting annoyed. I still tried to be civil and tried explaining to her.
I lost my cool when she made a particular statement. She said, “Miss Onoja, I hope you know you are a debtor”. It was at this point I blasted her. I told her point blank that she wouldn’t even have a job if I didn’t take a loan from her company. And that’s just the truth. It is because of people like me who use the company’s services that even makes her have a job.
I was so livid. It was shocking to me because I was being treated like a repeating debtor when the due date for my loan hadn’t even reached. I was so pissed off. It made me kill the idea of taking loans from these loan apps.
I think these people need to train their staff to relate with customers better. This is very important; if not, they would keep losing customers.
The debate keeps raging, and both sides feel they have a strong point. As much as the customers don’t want to be mistreated, lenders are also businesses and must ensure they get investment returns.
But can lending agencies make better decisions when giving out loans, as this would help reduce cases of non-payable loans and also incidents like Tobi’s own?
This is where Hadada comes in. Usually, when a user applies for a loan, they are required to share their transaction history with lenders to determine their eligibility for the loan. Frequently, users do not have a credit history that lenders can assess to qualify them for loans. This becomes too much of a hassle for lenders and users who cannot prove creditworthiness through these means.
With Hadada’s Data Analytical Solution, lenders will be able to quickly and securely access their customers’ financial statements with their consent, make data-driven underwriting decisions, and offer more loans to even users who do not have a credit history and would otherwise be unable to access loans and other forms of credit.
Talk to a Sales Consultant HERE