In Nigeria, a private loan in 2023 is by definition a particular type of loan facility available with a Nigerian private lender or a group of Nigerian investors in favor of Nigerian borrower who’s wish is to avoid the Nigerian banks.
In Nigeria, a private loan aims to contribute to the social and financial inclusion of Nigerian private people or Nigerian small entrepreneurs who are facing cash issues and who are been rejected by the Nigerian banks.
In Nigeria, a private loan can take several types as it can been provided either through Nigerian private lenders, or through a Nigerian private lending platform such as peer-to-peer lending or via financial institution who grant a microloan in the context of Nigeran microfinance.
In Nigeria, private lending should be from the borrower side been used cautiously as often attractive loans facilities offered in the internet are unveiled as being scam and fraud to cash an advance or upfront fee without lending anything
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