LOAN OPTIONS
Purchase Order Finance:
Order and stock your goods in the Jumia warehouse and get a loan up to NGN 20m with 3.5% interest per month.
You order locally or internationally; once verified, you can access 50% of the loan amount before dropping the items at the Jumia warehouse and then access the remaining 50% once the items are dropped off at the Jumia warehouse.
Warehouse Finance:
You can bring & stock your items to the Jumia warehouse & get a loan up to NGN 20m with 3% interest per month
If you already have goods in the Jumia warehouse, you can get a loan up to NGN 20m with 3% interest per month.
Classic Jumia Loan:
No need to drop items off at the Jumia warehouse. Get up to NGN 10m for a 4% interest per month without any collateral.
Terms:
Purchase Order Finance:
- Loan amount: 50% of value of goods. Maximum amount of 20m
- Method: You provide a purchase order of the goods you wish to buy from your supplier. Half of loan amount is disbursed when purchase order is verified by Lendigo and second half is disbursed on drop-off of items at Jumia warehouse
- Tenure: 1 – 3 months
- Interest rate: 3.5% per month
- Processing fee: 0.5% one-off fee upfront
- Loan amount: 50% of value of goods. Maximum amount of 20m
- Method: Loan disbursed on drop-off of items at Jumia warehouse. If you already have items in the warehouse, loan is disbursed when Jumia confirms the value of items in the warehouse
- Tenure: 1 – 3 months
- Interest rate: 3% per month
- Processing fee: 0.5% one-off upfront
- Loan amount: Up to 10m
- Tenure: 1 – 6 months
- Interest rate: 4% per month
- Processing fee: 0.5% one-off upfront
The first 100 people to apply before October 15th will NOT pay the standard 0.5% processing fee, so hurry!!!
You can apply directly via the JumiaPay Lending platform by following the steps here: https://pay.jumia.com.ng/how-
- Electronics
- Computers/Phones
- Grocery
- Fashion
- Beauty
FAQs
1. How long does the process take?
We pride in our promptness to merchant’s needs, it takes 2-3 days from business verification to disbursal if your loan request is approved.
2. How much does Lendigo charge and are there hidden charges?
We charge from 3% flat monthly fees including a processing fee from 0.5%. No hidden charges! No processing fee for the first 100 vendors to apply!
3. Is your rate negotiable?
Our rates are very competitive compared with our competitors. However, with good recurring loan performance, we are willing to adjust the rates for good clients.
4. Can I take the loan for 1 year?
At the moment, we offer short-term loans maximum of 6 months.
5. What is the maximum amount I can get?
For first time merchants, we can give between N300,000 to N20 million, However, the approved amount is reached on a complete assessment of your business.
6. Can I liquidate the loan before the due date?
Yes, the loan can be repaid upfront without any additional charges.
7. How would repayment be structured?
A sub-account is created for this purpose, your Jumia sales proceeds are paid into this sub account, the weekly repayment is deducted from this payment and the balance sent to your personal account within 24 hours.
For easy payment, we request a fixed amount weekly which is deducted from your Jumia proceeds/payment.
Weekly payment = ((Principal + Interest)/number of weeks).
8. In the event of default, will I be charged?
Once there is a default on your weekly payment, a daily charge of 0.033% including the interest rate is applied to the owed amount after 6 business days.
NOTE: Repayment must be made via direct transfer to our designated account if in default.