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How low-income Nigerian women with no credit score are becoming loans from banks

How low-income Nigerian women with no credit score are becoming loans from banks

A busy mom of three operating a produce stall in Lagos’s crowded Balogun market has sufficient urgent things to deal with—keeping her company afloat, feeding her household, spending her children’ school fees—and investigating loans from banks hardly ever makes her to-do list. She can be dreaming of financing to develop her business and place her family members on more stable ground, but the possibility of borrowing funds from a bank appears not only daunting, but unattainable. To date, she has relied in restricted credit from companies, buddies, or family—when and available—so she can meet her most pressing financial needs if they make it. Continue reading How low-income Nigerian women with no credit score are becoming loans from banks