Lender's Mart

About this App

This helps lenders to securely keep track of their loan portfolio investment with FundColony.

FundColony is a marketplace where people and organisations directly lend to individuals and small & medium sized businesses in Nigeria, helping support the core of the economy.

On the lender's mart app, lenders crowdfund loans alongside other lenders while being able to quote their rates.Borrowers then choose their preferred loan offers amongst all offers received.

Loan amounts on the marketplace are usually from N50,000 to N5,000,000.00 with tenors of one to six months. In some cases, loans on the platform may vary oustide the standard amount and tenor.

Lenders can earn monthly returns of up to 4% (APR 60% Estimate). Please note that these returns are subject to overall loan performance as actually returns may vary. A management fee of 20% applies on the earns (interest and late payment fees) after capital repayment has been completed by the borrower on a loan contract.

All repayments by borrowers will automatically be credited to the lender's wallet which can either be re-lent or withdraawn. All lenders are to allow a minimum of 48 hours for withdrawals from wallets. A withdrawal fee of N53.75 applies on each withdrawal irrespective of the amount.

Disclosure

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Please be informed that is not a savings account and funds lent on the platform are not covered by National Deposit Insurance Company (NDIC).

For more information on disclosure and how we manage risk on the platform please visit our website. https: www.fundcolony.com/invest/disclosure/