Three Years ago, Mrs. Ogunde, a rice seller and mother of three in the market, had always faced difficulties in securing credit facilities from traditional commercial banks in Nigeria due to their stringent requirements that often require collateral. Most financial institutions only offer access to secured or collateralised loans, which are usually inaccessible to low-income citizens and petty traders. She had so many customers who wanted to get rice from her in bulk quantities, but she did not have enough funds for such a purchase.
Some of her friends advised her to advertise the few stocks she had online for increased patronage, as many customers in Nigeria were willing to pay upfront before delivery. At that time, she was only using a feature phone that had no internet access or connection to other social media platforms. This was when she realized that she had to get a smartphone to promote her business online. She felt quite reluctant to use part of her limited capital to buy a smartphone because her priority had always been her children’s school fees, which were already overdue for payment.
The transformation of business models brought about by a single mobile phone
While discussing with her fellow traders in the market, she was informed about Easybuy and how it has assisted millions of Nigerians to own smartphones across the nation. The same day, she decided to purchase her smartphone via Easybuy, which coincided with a positive transformation in her business. She was amazed because the cost of getting a smartphone was lower than the cost of the old button phones she was accustomed to. To her delight, she got to advertise and meet her long-distance clients for the first time. She gradually started earning more money due to her online presence, where she was able to display her packaged rice.
Not only a phone ，More live
Mrs. Ogunde was still not satisfied with the fact that her sales were not in bulky standard bags and needed funds to expand her business. She was able to access more funds via the Easybuy online cash loan platform for existing customers in under five minutes, all from the comfort of her store, without any collateral.
Since then, she has consistently used the Easybuy platform to access any loan she needs for her business or her children’s school fees, thanks to its speed and flexibility.
