Why Lucred was created
So Jennifer started a gadget retailing business in the premier city of Ibadan around July 2021. As the business started to grow, a lot of customers would come in and request if they can buy an item and pay later or pay in batches. She gets about 2 of these requests daily and so does other sellers in the city.
We can’t remove the importance of credit in business, imagine having no sales for a long period and a customer comes to buy an item but wants to pay in installments, turning down that offer would be difficult.
From a customer’s point of view, sometimes bringing out a huge amount of money to pay for an item at once can be a hard choice especially when you have other expenses to pay for.
Lucred comes to solve this problem, we provide customers a line of credit that they can spend at selected merchants and pay back monthly or weekly. We are constantly adding merchants to give you a wide range of goods and services to choose from. Your favorite stores and merchants are already on Lucred :-)
The importance of credit can’t be overemphasized, being able to pay for an item over a long period brings convenience to us as humans. A good economy is grown and built on a functional credit system, and the Nigerian credit system is getting matured for this.
Lucred was created to make accessing credit easy for Africans, seamless, and faster. Yes, you get a credit decision faster than saving a phone contact.
We’ve built the product to be simple and easy, the application stage is fast and not cumbersome like traditional banks, and repayment is even easier.
We set out to grow businesses for merchants, increase sales for vendors and also support SMEs. We believe SMEs are the driving force of an economy. For customers, we are providing a cheaper alternative to fund their lifestyle, help them build a good credit culture, improve their credit score and ratings, and help them get access to bigger loans and credit in the future.
Join our waitlist today at https://lucred.co and be the first to know when we launch
