In Nigeria, Moniepoint is one of the few reputable fintech companies that is providing working capital loans. Up till now, no Moniepoint user has boldly say “I have gotten a personal loan on the banking app”.
Although Moniepoint claims that it’s offering both business and personal loans. But that’s not completely true because the fintech only offers a working capital loan to it merchants and POS agents.
Despite the fact that Moniepoint give option for personal loan on it personal banking app, the loan is never available to users. Its working capital loan is also only available to it merchants and agencies network.
So, if you’re asking to know whether Moniepoint still give loan in 2024, I can only say the fintech is still giving it to it merchants and POS agents.
The Moniepoint loan amount is determined based on merchants inward and outward daily transactions. This simply means if you’ve got a good inflow and outflow of funds on your Moniepoint business account, you have higher chances of getting the Moniepoint working capital loan disbursed in to your Moniepoint account.
