P2P Lending with OVAMBA ~ Funding businesses in Africa!
In today’s business world where competition is fierce and growth is inevitable, there is always someone willing to help business owners move a step or two ahead towards achieving their golds.
If you’ve been in business in Cameroon or Africa for two years and more, you stand a significant chance to benefit from OVAMBA’s P2P Lending model that’s carefully designed to solve Africa’s business funding challenges.
What is P2P Lending by the way?
According to Wikipedia, Peer-to-peer lending, abbreviated P2PL, is the practice of lending money to unrelated individuals, or “peers”, without going through a traditional financial intermediary such as a bank or other traditional financial institution.
During the #CmrBloggersHangout last Saturday, 9th of Oactober 2015, Camer bloggers got marveled by the exciting funding facilities packaged by OVAMBA for African businesses.
With an adequate knowledge and understanding of the African markets and challenges faced by business leaders, OVAMBA positions itself as the easily-reached source of funds, allowing businessmen like Mr. Triyah, CEO of TTC more time to focus on growing their businesses.
Watch Mr. Triyah
Here are some quick questions to help in understanding Ovamba’s mission and how you can benefit from their initiative;
- What are the challenges faced by most African SMEs?
- What is the solution OVAMBA tables to these challenges?
- How does Ovamba funding opportunity work?
For detailed answers, I recommend you check out this page on Ovamba’s official website
A video interviews of Ovamba’s CEO on one of the most popular TV channels in Cameroon, CANAL 2
Basic requirements to be funded
- Your company must be legally registered with tax authorities.
- You must have a 2 year or more business experience.
- You must have an existing account at financial institution where you deposit cash from your business.
- The business owner must be above the age of 21 and willing to provide personal guarantee for loan.
- Your business must NOT be in ANY following industries: Alcohol, gambling, money lending, adult entertainment, tobacco, weapons/armour, timber, primary agriculture.
Once you fulfill these basic requirements, you are qualified to apply for funds (up to $600,000). However, your application has to go through an evaluation by the Ovamba credit team.
There are few reasons to turn to Ovamba
- Funding transactions are complete within a shorter period compared to traditional financial institutions.
- Rates are between 1 and 2%
- Ovamba is very flexible on Collateral.
Let me hear from you in the comment box. Have you heard of Ovamba before? What are your thoughts on their products?