Individuals and corporate entities can lend/invest on the platform provided a source of funds can be verified.

The minimum investable amount per transaction is N10,000 and subsequently in multiples of N1,000. This is however subject to change in future in line with market realities.

To get started you need to create a profile via the app or our website, tell us about you and fund your wallet. Once your account is verified and approved, your account is active, and you can begin to invest in loans. See investors risk disclosure and terms.

As your agent, we will go after the borrower with a view to recover the payment (principal, interest and default penalty) due. It is important to note, despite our best effort to only approve credible borrowers, loan performance will depend many factors that may result in some loan not getting paid. In some cases, you will lose some or all the capital and interest due from a loan you made an investment. We therefore strongly recommend that all investors build a diversified portfolio through fractionalisation.

Fractionalisation is the process that enables our lenders to lend only a portion of a loan to a borrower. This ensures that the credit risk is shared with other lenders enabling our lenders to lend smaller amount to many borrowers. This ensures that should a default occur, only the amount lent on the transaction is lost.

Individuals and corporate entities can lend/invest on the platform if they can provide a source of fund.

Individuals and corporate entities can lend/invest on the platform if they can provide a source of fund.

No. Loans on the FundColony platform are unsecured.

When Borrowers make a repayment your share of the funds will be credited to your wallet the next banking day.

All loan applications undergo a thorough credit assessment process to determine the Borrower’s creditworthiness. While we cannot disclose the full detail of the assessment process, it includes factors such as an assessment of income and financial records to determine a Borrower’s ability to meet monthly payments without suffering substantial hardship; any previous failure to meet financial commitments; consistency between the information provided and that recovered from background checks; and checks for credit history issues including prior defaults or insolvencies. FundColony then uses the result of this assessment to determine whether the loan application will be approved, and if so, which credit rating.

While FundColony has taken significant measures to minimise risks during the loan application and approval process, they do exist and should be considered. We recommend consulting a financial advisor before making any investment decisions. 
The primary risk inherent in Peer-to-Peer Lending is that Lenders may not receive all of their monthly principal and interest payments due to loan defaults.

Some Borrowers will repay their loans ahead of schedule. In this case, the funds are returned to the Lender’s account and will be available for re-investment or withdrawal. Borrowers are not penalised for early repayments of a loan.

FundColony has a proactive collections management process that is strongly structured and regimented. You do not have to manage collections personally.

Yes, but we advise against it.

No. There is no insurance or government protection to compensate the Lender for loss in the event of a Borrower default. However, the impact of Borrower defaults on the overall performance of an investment can be mitigated by diversifying your investment across numerous loans.

As the operator of the Marketplace, we take debt collections process very seriously. We follow a financial services industry process, whereby we proactively contact the Borrower whose repayment dishonours via SMS, email, and telephone to attempt to get them back on track.

A write off status indicates that a Borrower has defaulted on their loan, usually job loss, death, or other unforeseen circumstances. Typically, this means that we’ve exhausted our collections efforts and there’s a low statistical likelihood that we’ll be able to collect any funds from the Borrower; resulting in a capital loss for Lenders.

Once the loan is written off, there may still be some chance of recovery of the outstanding debt via Debt Recovery; you would see this as a loan payment against the existing loan.

No. There is no insurance or government protection to compensate the Lender for loss in the event of a Borrower default. However, the impact of Borrower defaults on the overall performance of an investment can be mitigated by diversifying your investment across numerous loans.

No. You will be provided with demographic information about borrowers, such as their residential and employment status, but you will not have access to any identifying information about them.