| Interest Rate | 30% |
| Duration | From 14 days |
| Access Level | Public |
| Company Name | Orange One Finance |
| Phone 1 | |
| Phone 2 | |
| Website or Store | |
| Address | |
| Category | Mild Loan |
| Company Email | |
| Views | 136 |
Orange One Finance Limited was officially licensed by the Central Bank of Nigeria on December 7, 2016, as a Finance Company. Since the day we opened our doors to the public, we have remained committed to engaging with our customers—both individuals and small and medium-sized enterprises (SMEs)—to build a mutually beneficial partnership. Our goal is to assist our clients in reaching their financial and business objectives, creating a lasting, positive impact on their growth and success.
Our team consists of dedicated professionals who are passionate about driving these objectives forward. We take pride in offering innovative, flexible, and timely financial solutions tailored to the unique needs of each client.
Our Vision:
To become the leading provider of financial solutions for SMEs and individuals across Africa.
Our Mission:
To deliver world-class financial services and employ cutting-edge technology to help our clients achieve their financial goals.
Orange One Finance Personal Loans
Orange One Finance provides Personal Loans designed specifically for professionals employed in the banking sector or with reputable, large corporations, including blue-chip and multinational companies. These loans do not typically require collateral but do require proof of employment. For larger loan amounts, a guarantor may also be necessary. Personal loans are intended to address immediate financial needs, with loan amounts ranging between ₦500,000 and ₦4,000,000, all in compliance with labor laws.
- Eligibility: Professionals in banking or major organizations
- Security: Proof of employment; a guarantor may be required based on the loan amount
- Purpose: To meet urgent financial needs
- Loan Amount: ₦500,000 to ₦4,000,000
- Repayment Period: Monthly installments over a term of 3 to 12 months
Orange One Finance Working Capital Loans
The Working Capital Loan from Orange One Finance is specifically designed to support small and medium-sized businesses (SMEs) by enhancing their operational capabilities and driving profitability. This loan is tailored for businesses with a proven track record, requiring a minimum of two years in operation. A comprehensive evaluation of the business’s current financial needs and its repayment capacity, after the capital enhancement, forms the basis for loan approval.
Both cash flow projections and historical financial records are taken into account during the loan assessment process. Businesses with organized financial records and a history of banking their proceeds are better positioned to qualify. This loan acts as bridge financing to help businesses reach the next level of growth.
- Eligibility: SMEs with a minimum of 2 years of operational history
- Purpose: To boost operational capacity and profitability
- Evaluation Criteria: Business cash flow projections, historical financial performance, and record-keeping
- Repayment Period: 6 to 12 months
Orange One Finance is dedicated to offering financial solutions that foster growth, stability, and success for both individuals and businesses. Through our personal and working capital loan products, we help our clients overcome financial obstacles, seize new opportunities, and achieve their goals.
Expert Counsel
Loan apps offer quick and convenient access to credit, often with minimal documentation and fast approval. However, they can be notorious for high-interest rates, hidden fees, and predatory lending practices.
How to Avoid Loan Apps
- Build an emergency fund: Save 3-6 months' worth of expenses to avoid needing quick loans.
- Create a budget: Track expenses, prioritize needs over wants, and allocate funds wisely.
- Explore alternative credit sources: Consider banks, credit unions, or peer-to-peer lending platforms with more favorable terms.
- Improve credit score: A good credit score can help you qualify for lower-interest loans.
- Avoid unnecessary expenses: Cut back on discretionary spending to reduce the need for loans.
Precautions When Using Loan Apps
- Read terms and conditions: Understand interest rates, fees, repayment terms, and penalties.
- Check lender legitimacy: Research the lender's reputation, licenses, and regulatory compliance.
- Borrow only what you need: Avoid taking more than necessary to minimize debt.
- Set realistic repayment expectations: Plan to repay on time to avoid penalties and interest.
- Monitor your credit report: Ensure loan app activities are accurately reflected.
How to Pay Loan Apps
- Prioritize repayment: Pay on time to avoid penalties and interest.
- Create a repayment plan: Break down debt into manageable installments.
- Use automatic payments: Set up automatic transfers to ensure timely payments.
- Consider debt consolidation: Merge multiple debts into a single, lower-interest loan.
- Communicate with lenders: Inform them of financial difficulties to negotiate payment extensions or reductions.
What to Do in a Financial Crisis
- Seek professional help: Consult a financial advisor or credit counselor.
- Prioritize essential expenses: Focus on necessities like food, rent, and utilities.
- Negotiate with creditors: Discuss payment extensions or reductions.
- Explore government assistance: Look into programs like unemployment benefits or financial aid.
- Consider debt restructuring: Work with a credit counselor to reorganize debt.
Red Flags to Watch Out For
- Exorbitant interest rates: Rates above 36% APR are considered predatory.
- Hidden fees: Look out for origination fees, late fees, or prepayment penalties.
- Unclear repayment terms: Ensure you understand repayment schedules and amounts.
- Lack of transparency: Be wary of lenders with unclear or misleading information.
- Aggressive marketing: Be cautious of lenders with pushy or deceptive marketing tactics.
Additional Tips
- Regulatory bodies: Familiarize yourself with local regulatory agencies, such as the Central Bank of Nigeria, to report suspicious lenders.
- Loan app reviews: Research reviews from multiple sources to gauge lender reputation.
- Financial education: Continuously learn about personal finance and responsible borrowing.
By being informed and cautious, you can navigate loan apps wisely and make better financial decisions
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