LendingSquare Digitizes The Money Lending Sector In Ghana

Lending and borrowing is part of every business environment. A lot of individuals borrow from friends and family when they fall into debts of all sorts. However, sometimes you may run out of options, and banks may not be so friendly towards you. LendingSquare has found this problem, and has created a solution for it.

Product

LendingSquare was created to offer a more efficient, transparent and customer-friendly alternative to the traditional banking system that offers creditworthy borrowers lower interest rates and investors better returns. An alternative that gives more control to money owners and decision making to those it affects the most.

We operate fully online with no branch infrastructure, and use technology to lower cost and deliver an amazing experience. We want to help individuals to save more, businesses expand, investors earn better returns and the economy grow. Today, individuals and businesses can borrow directly from a wide network of lenders.

LendingSquare allows people to invest in each other in a way that is financially and socially rewarding — it offers a web platform and framework that helps individuals and small businesses access to fast and simple finance for personal and business related purposes.

Value

  • Unlike the traditional financial institutions, LendingSquare does not lend money. The decision to lend or borrow exclusively depends on the lender and borrower respectively. The interest rate, loan amount and the payment term of the loan is determined by the lender and borrower. LendingSquare services all payments and transfers.
  • LendingSquare’s business model also offer social and marketing benefits that are unique in the P2P Lending community, which is creating awareness of, and interest in, the Businesses that borrow on the platform among prospective and participating customers and using social media to reach such customers.

Bragging Rights

Prior to going live on 17th November, LendingSquare was a finalist in the 2013 The indus Entrepreneur (TiE) business plan competition in Dubai and also an 88mph accelerator applicant.

Team

  • E.I.MBALAM, Co-Founder/ C.E.O
  • MARK APPIAH KUSI, Co-founder/ COO
  • BENJAMIN OPPONG-KYEKYEKU, Chief Risk Officer
  • RICHMOND DUAFAH, Chief Commercial Officer
  • Hope Avalon Gagodo Little, CTO
  • MICHAEL DUGAH, Backend Developer

Development Stack

Confidential

Contact/Social Media/Job Openings

We are located at iSpace Foundation, F618/2 Anumansa, Lokko St.146 East X’borg Estate, Osu, Accra – Ghana.

Also published on Medium.

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2 comments

  1. Pingback: Lending Square Wins GHS 250000 at SRS Hackathon | gharage

  2. Pingback: Lending Square Wins GHS 25000 at SRS Hackathon | gharage

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