As the world continues to embrace the benefits of small and medium-sized businesses (SMEs), CreditPRO, a licensed money lender based in Lagos, Nigeria, has been established to bridge funding gaps for micro, small, and medium-sized businesses in Nigeria through innovative working capital financing. With a goal of bridging the over =N=600 billion annual funding gap for the MSME sector in Nigeria, CreditPRO is focused on providing customized and flexible loan products to support the growth of MSMEs in the country.
Innovative Working Capital Financing
CreditPRO specializes in bridging funding gaps for small and medium-sized businesses through innovative working capital financing. Unlike big financial institutions, CreditPRO takes time to understand the pain points of this category of businesses and designs loan products that are suitable for their businesses and cashflow. The company employs technology to drive its value proposition, leveraging both its own and third-party fintech applications.
CreditPRO offers a range of loan products tailored to meet the unique needs of MSMEs in Nigeria. Its product suite includes:
Trader Loan: A loan product that supports traders and small business owners in their daily business operations. It provides quick access to funds for purchasing inventory, raw materials, or any other business-related expenses.
Invoice Discounting: A financing solution that allows businesses to get paid immediately for their invoices rather than waiting for the customer to pay on terms.
LPO Financing: A loan product designed for businesses that have purchase orders or contracts but lack the funds to fulfill them. LPO financing provides funds to purchase inventory or pay for services to fulfill the order.
Asset Re-Financing: A loan product that allows businesses to use their existing assets as collateral for a loan. The company also offers asset management services to help businesses manage their assets more efficiently.
Receivable Management Solution: A solution that allows businesses to convert their accounts receivable into cash, providing immediate funds for the business to use.
Customized Loan Products
CreditPRO’s value proposition hinges on its flexibility and customization of loan products to align with the peculiarities of its small business customers. The company takes the time to understand its customers’ businesses and cashflow and designs loan products that are suitable for their unique needs. Its goal is to provide quick access to funds and help businesses grow by providing the necessary capital.
At CreditPRO, the focus is on supporting MSMEs and not just lending to them. The company takes the time to understand its customers’ businesses and works with them to provide the support they need to grow. Its goal is to become the lender of choice for the growing population of MSMEs in Nigeria and sub-Saharan African countries.
In less than three years, CreditPRO has serviced over 2,000 small businesses through both traditional and technology platforms. The company’s innovative working capital financing solutions and customized loan products have helped small businesses access the capital they need to grow and succeed. With a focus on supporting MSMEs, CreditPRO is positioning itself as the lender of choice for small businesses in Nigeria and beyond.
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