Loan/Debt

Numida

Posted 6 months ago

Description

Numida is a rapidly growing digital financial institution in East Africa serving micro- and small businesses. Thanks to our proprietary credit score, and digital credit operations we provide unsecured growth and working capital to businesses, resulting in high portfolio yields and a high impact on our borrowers’ livelihoods.

Contacts

CEO: Mina Shahid,: mina@numidatech.com General: info@numidatech.com

ADDITIONAL FMC INFO

Loan Terms & Approval: Numida uses risk-based pricing, but on average, the interest rate is about 11.5% Repeat clients in good standing get their loans approved instantly, but new applicants, and repeat businesses seeking larger facilities, must wait for up to 24 hours to have the loans approved. Mobile technology: Numida leverages mobile technology to improve the financial management and financial literacy of Ugandan small business owners through their simple record-keeping app. As entrepreneurs use the app to keep track of their finances, they unlock access to unsecured credit directly in the app.