(Open) Shadiq's Interest-Free Loan Service for Nigerians Lv.1 💰

[Shadiq]

███  Introduction  ███

Hello respected Nigerians, my sincere greetings to all.

As a Nigerian, I always try to contribute to the welfare of Nigerians and do good deeds for them. In view of this, I am launching this service so that anyone can get a short-term interest-free loan. This service is only for the purpose of helping. I hope everyone will join me in helping to run the service.

▓▓▓  Details  ▓▓▓

• Loan amount: Maximum $200
• Duration: 30 days
• Who will apply for a loan?: Only reputed members of our (LB) community.
• Late payment penalty: If you exceed the specified time, you will have to pay a fine of 2% per day.
• Punishment time: After the due date of loan repayment, a penalty will be imposed for the next 7 days. If you do not repay the loan including the penalty on the 8th day, then we will take a stand against you from the 9th day and you are obliged to accept any penalty (negative tag) we impose.
• The longevity of the service:Level-1 will last up to 12 weeks.

                                           

▓▓▓  Rules  ▓▓▓

• You must be active in a signature campaign for at least 4 weeks.
• You must be an active member of the Naija Local Board.
• At least 15% of the posts in the last 30 days' post history must be from the Naija LB Board.
• Loan applications from users with negative tags will not be approved.
• Alternate accounts are not allowed.
• Only USDT and BTC loans will be approved.
• Transactions must be completed on any of the Bitcoin (SegWit bitcoin address) and USDT networks(BEP20,TRC20,ERC20,Solana and others USDT network).
• You will have to bear all transaction fees.

Note: This is only a small help for those in need. So please refrain from using the service for luxury and give a chance to those in need.
Warning! Our Honorable LB Moderator @Igebotz is a partner of Shadiq's interest-free loan service. So don't try to commit a heinous crime like loan default. The consequences of this may be very harmful for you.

▓▓▓  How to apply  ▓▓▓

Code:

I am interested in this service: yes/no
Loan amount: xx
Time:(Loan date-repayment date)
Your signature campaign sheet link: (last page where you can be found)

• Apply in this thread in the specified format.
• Don't forget to PM me.

• Send me a message on (@ShaDiqLv1)
    --Your Bitcointalk username.
    --Loan amount.
    -- Network name-Network address(for transaction).
  
  ▓▓▓  Contact Me  ▓▓▓
  
  Bitcointalk Username: Shadiq
  Telegram: @ShaDiqLv1
  
  My main goal is to be by your side in your time of need.So don't hesitate to ask for help and After receiving the money, be sure to acknowledge it in this thread and confirm the transaction
  

[Shadiq]

Funds remaining: $50

[Perfectbaby]

Congratulations on launching your loan service.. it's good seeing that our people are launching service like this making us to reduce our focused on how they do go apply for the general lending board. Usually, if we could get something like this then it would help us.

A little correction or suggestions; It wouldn't be that nice putting merits as a criteria because there are people who are already in campaign and doesn't have up to that merits requirements but can repay as long as they are in active campaign and earning. I think your focused should be on active campaign because there are people who earned up to that merits requirements but are not in campaign, would you also give loan to such person who are in campaign?

Wait a moment, doesn't it mean that your is free and doesn't require interest when paying back?

[Shadiq]

Congratulations on launching your loan service.. it's good seeing that our people are launching service like this making us to reduce our focused on how they do go apply for the general lending board. Usually, if we could get something like this then it would help us.

A little correction or suggestions; It wouldn't be that nice putting merits as a criteria because there are people who are already in campaign and doesn't have up to that merits requirements but can repay as long as they are in active campaign and earning. I think your focused should be on active campaign because there are people who earned up to that merits requirements but are not in campaign, would you also give loan to such person who are in campaign?

Wait a moment, doesn't it mean that your is free and doesn't require interest when paying back?

Thanks for your valuable advice.

Maybe the merit criteria were not very necessary. But I am just trying to value his (borrower's) account. I will definitely consider it and make corrections if necessary.

Another thing to clarify is that my service is interest free. So when you return the money within the specified time, you will have to pay the same amount. If the time is exceeded, the mentioned penalty will have to be calculated. Because, I want to spread the service to more people.

I invite everyone to comment and contribute to the necessary corrections.

[GPVibes]

I congratulate you for this service initiative.

I just want to say since this service is for emergency, it may not be very fast for the borrower to have the luxury of time to collect with crypto bep20 (including network issues that we face in Nigeria and processes of transaction) and then try to convert or sell to get Naira. We never can tell the kind of emergency that it will be including small health issues.

I will still suggest you add Naira for easy access and this is LB, let Naira still come the party.

Inflation won't eat up your money  within one week of repayment  . Just my suggestion.

[Tonimez]

This is a very good initiative from one of our own. I think this is first of its kind. I haven't really seen an interest free thread here. This shows how great our people can be and having each other at heart. It would be very nice if users show support to his initiative by;

*Making sure to pay as at when due to enable other interested members to participate.

*Paying your penalty when you default

*Other top members can also pool resources together to increase the number of beneficiaries above 4 per week.

Congratulations to local board and Good luck to all!!!

[DubemIfedigbo001]

Well done senior man, I no know say them still dey do this kind charity. This go help us more here make we no dey go general board for loans if things hard for us. Gradually, naija community don dey approach self sufficiency as we dey try help ourselves the more.

I get one question for you
What if person default and em no gree pay you, even after you don add the interest for am for 1week, you go continue to dey add the $5 every day for as long as e go take am to comply (which fit no dey feasible), abi you get other means you carry for mind to recover your money?

As you no be DT member, you no fit tag am, abi you get DT person wey go dey help you? So that men go know say them no fit carry your good intentions play.

[Shadiq]

As you no be DT member, you no fit tag am, abi you get DT person wey go dey help you? So that men go know say them no fit carry your good intentions play.

I have already asked our Honorable Moderator for help in this service and he has responded positively to my request. I hope he will help me in this regard to the best of his ability and encourage other members to take such initiatives.

The defaulter will continue to be fined for the next 7 days after the due date. Even then, if he does not repay the loan along with the fine, we will definitely take action against him.

[DubemIfedigbo001]

I have already asked our Honorable Moderator for help in this service and he has responded positively to my request. I hope he will help me in this regard to the best of his ability and encourage other members to take such initiatives.

The defaulter will continue to be fined for the next 7 days after the due date. Even then, if he does not repay the loan along with the fine, we will definitely take action against him.

Very good. E good make all clients see am black and white say our honorable moderator dey play the advocate role for this your service. So whoever fuckup, moderator go take am up.

E go still good if you update your OP with this info in bold, so that any client go see clearly who go dey involve for em case  if em no behave well.

Well done once again, you be good man.

[Gooner0]

Congratulations on launching your loan service.. it's good seeing that our people are launching service like this making us to reduce our focused on how they do go apply for the general lending board. Usually, if we could get something like this then it would help us.

A little correction or suggestions; It wouldn't be that nice putting merits as a criteria because there are people who are already in campaign and doesn't have up to that merits requirements but can repay as long as they are in active campaign and earning. I think your focused should be on active campaign because there are people who earned up to that merits requirements but are not in campaign, would you also give loan to such person who are in campaign?

Wait a moment, doesn't it mean that your is free and doesn't require interest when paying back?

Thanks for your valuable advice.

Maybe the merit criteria were not very necessary. But I am just trying to value his (borrower's) account. I will definitely consider it and make corrections if necessary.

Another thing to clarify is that my service is interest free. So when you return the money within the specified time, you will have to pay the same amount. If the time is exceeded, the mentioned penalty will have to be calculated. Because, I want to spread the service to more people.

I invite everyone to comment and contribute to the necessary corrections.

I don't quite understand the penalty fee of 5$ per day, does it mean 5$ would be added each day to your outstanding amount?
Or how does it work you need to enlighten us more

[Hewlet]

I will still suggest you add Naira for easy access and this is LB, let Naira still come the party.

Inflation won't eat up your money  within one week of repayment  . Just my suggestion.

This is a forum initiative and it's only best it's tailored down to either BTC or USDT. You don't expect him to leave his assets in fiat just because he's hoping to help members of the forum that are in need of loan.

Imagine he's giving out as much as $200 per week and he's to make such payment in USDT and have to keep doing it week after week, what's going to be the implication of that? It means he has to keep aside at least 350k in fiat for such purpose and with the way fiat can depreciate, don't you think he's going to loose too much?

This is a very good initiative and that no interest is attached to it is what makes it even better. Congratulations @shadiq and success to this initiative.

[Gost ms]

First of all, I would like to thank you. Because the method you have expressed your willingness to give a loan has probably never been done before. Interest-free loans are a very good plan. It will be very beneficial for a Muslim person. Because for a Muslim person, taking interest is forbidden.

This initiative of yours, Naija LB, can benefit many people. For example, if a person is in a very urgent situation and at that time can borrow money from you completely interest-free, it will be very good for him.

[Tonimez]

As you no be DT member, you no fit tag am, abi you get DT person wey go dey help you? So that men go know say them no fit carry your good intentions play.

I have already asked our Honorable Moderator for help in this service and he has responded positively to my request. I hope he will help me in this regard to the best of his ability and encourage other members to take such initiatives.

The defaulter will continue to be fined for the next 7 days after the due date. Even then, if he does not repay the loan along with the fine, we will definitely take action against him.

I assume the measures are very effective. But based on the criteria for qualifying to take the loan, there may be little or no extreme defaulters. With every benefactor having a signature campaign, at least the problem of not having a source of income would be settled.  Thanks again for the initiative.

[Barikui1]

As you no be DT member, you no fit tag am, abi you get DT person wey go dey help you? So that men go know say them no fit carry your good intentions play.

Even then, if he does not repay the loan along with the fine, we will definitely take action against him.

This a good one actually and am quite impress by this act of yours, though I am not a big fan of taking loan but this will help our brothers in the community that are used to taking loans.
My only objection here is the currency, bro we are Nigerians, the loan should be issue in naira, not in usdt, you and I know that in usdt transaction fees are being deducted which is a big loss to the sender, but with our local currency the highest our banks can deduct from transactions is #50 if am not mistaken,  so our local currency seems better than this usdt you are talking of, just an opinion though.

[DubemIfedigbo001]

As you no be DT member, you no fit tag am, abi you get DT person wey go dey help you? So that men go know say them no fit carry your good intentions play.

Even then, if he does not repay the loan along with the fine, we will definitely take action against him.

This a good one actually and am quite impress by this act of yours, though I am not a big fan of taking loan but this will help our brothers in the community that are used to taking loans.
My only objection here is the currency, bro we are Nigerians, the loan should be issue in naira, not in usdt, you and I know that in usdt transaction fees are being deducted which is a big loss to the sender, but with our local currency the highest our banks can deduct from transactions is #50 if am not mistaken,  so our local currency seems better than this usdt you are talking of, just an opinion though.

Personally I dey reason this your point as wetin no go favor Shadiq as na free interest loan. For now, BSC bep20 na free TX fee Dem dey offer and 50USDT pass the minimum.

If Shadiq come liquidate em USDT to Naira, bearing in mind say e fit be say na en accumulated signature campaign money wey en dey try use help em brothers them, em go fit pay tax for exchange, come still pay charge for bank, so finally na em dey loose.

If you come dey look from the repayment corner, since em focus na say make you repay an with money wey you earn from campaign, then e dey easier for you to change coins, send em 50USDT through BSC back to am at no cost,

Shadiq e get another thing wey come my mind now,
Some full members weekly pay no reach $50, so them fit no pay back all for one week timing. You fit still adjust the loan amount make person no borrow more than em dey earn weekly if e no reach $50, abi you get extension plan for person wey no dey earn reach like dat weekly?

[Richbased]

Good service but very risky because if the loan is defaulted it will be a very big loss to you because some people are very dubious in nature and wouldn't even care if their account is red tagged. However, it's your risk, i don't pray for a defaulter either. However, this is an act of generosity from your end, hope anyone that will use it complies to your terms of service. Omor, no be small risk sha o but i pray it stand the test of time.

[Shadiq]

Shadiq e get another thing wey come my mind now,
Some full members weekly pay no reach $50, so them fit no pay back all for one week timing. You fit still adjust the loan amount make person no borrow more than em dey earn weekly if e no reach $50, abi you get extension plan for person wey no dey earn reach like day weekly?

There has been some adjustment in the amount. The OP post now says that a person can borrow a maximum of $50 and the minimum is whatever they need. In this case, I will keep updating the remaining funds so that a borrower can understand how much $x is left in the fund and how much $x he can borrow at most.

But I can't say anything about the currency. Because it seems to me that USDT is the only stable currency from which my fund or the value of the fund will never decrease. In the case of Naira (fiat), I cannot deny the impact of inflation (in the long run).

[SatoPrincess]

Congratulations on starting your loan service. It always gives me joy to see members of our community doing well in the forum and giving back to the local community. Managing an online loan service is not easy, those people way dey do am for lending section dey really see shege. I hope we get to see only genuine people making requests on this thread.

[GPVibes]

But I can't say anything about the currency. Because it seems to me that USDT is the only stable currency from which my fund or the value of the fund will never decrease. In the case of Naira (fiat), I cannot deny the impact of inflation (in the long run).

Quite understandable. You are a good man abi woman self 

Once again I commend your humane kindness towards people here and I like the fact that you are liasing with moderator to be able to join in punishing defaulters where it arises.

Keep getting better at the noble service.

[Olatundespo]

Congratulations on launching your loan service.. it's good seeing that our people are launching service like this making us to reduce our focused on how they do go apply for the general lending board. Usually, if we could get something like this then it would help us.

A little correction or suggestions; It wouldn't be that nice putting merits as a criteria because there are people who are already in campaign and doesn't have up to that merits requirements but can repay as long as they are in active campaign and earning. I think your focused should be on active campaign because there are people who earned up to that merits requirements but are not in campaign, would you also give loan to such person who are in campaign?

Wait a moment, doesn't it mean that your is free and doesn't require interest when paying back?

Thanks for your valuable advice.

Maybe the merit criteria were not very necessary. But I am just trying to value his (borrower's) account. I will definitely consider it and make corrections if necessary.

Another thing to clarify is that my service is interest free. So when you return the money within the specified time, you will have to pay the same amount. If the time is exceeded, the mentioned penalty will have to be calculated. Because, I want to spread the service to more people.

I invite everyone to comment and contribute to the necessary corrections.

Interest-free loans make you seem like a generous person, but maybe you could be more motivated if you introduced some interest. Most loan services require a small additional payment and this can provide more probity to your capital. I think you can accept a small amount of interest by setting an additional repayment period. The extra period and some extra interest will help you to continue the service in the long run.

Increasing the loan amount may be decent.