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

[Obim34]

The main purpose of this service is to help people and get gratitude from them. Because I believe that "gratitude is the best gift in the world" which will be enough for me. If no one takes up this service and it becomes a useless service that people hide from, then I think it would be better to close this service and come up with some other plan to contribute to the Naija board. However, I will still wait for the interest-free loan service users for a certain period of time.

I will patronize NGN loan service because of flexibility, your rules are okay but seems too strict for most people. Don't forget you have a global competitor rendering same service, if his rules are more flexible and with longer duration, most persons will prefer that over this. I'm not saying you should adjust (only if you wish to)but wait a little, i'm sure people will be bent some how were your service will be needed.

[Mia Chloe]

~snip

Based on the PM you sent me, here is my 5 cents.... Firstly it's a nice service but I think you should make it more flexible. If you are loaning out in USDT try to ensure you can loan out regardless of the network (you could exclude ethereum network because of the extremely high fees) but for the others you should accept loaning out. Also try to accept the liberty of being able to accept other stable currencies like BTC as a way to pay the loan back.

Lastly you should consider thinning out the rules of late repayment instead of $5 fee which is relatively large for an average Nigerian you could use % increment based on the borrowed amount. All these must be negotiated when the person is taking the loan. Floxynice is having the upper hand because it's fiat which everyone uses ... Sha don't get discouraged....

[Shadiq]

Hello Naija people, hope everyone is well.
Some flexibility has been introduced in the rules to make this service easier. Hopefully, it will be a little easier to use this service now than before. Although no one has taken advantage of this service yet.

Changed rules-

• Loan repayment period has been increased to 14 days instead of 7 days.
• Late payment penalty has been reduced to $2 instead of $5.
• Merit requirement has been abolished.
• Signature campaign stay period (at least 4 weeks) has been set.
• Naija Local Board activity in the last 30 days has been reduced to 20% instead of 25%.
• Transaction addresses have been diversified.
• Telegram facility has been added to keep transactions confidential.

These rules have been changed to reduce the rigidity in using the service and be flexible so that it is easier to use this service. If there is still any error or rigidity in the rules, then feel free to comment. Your comments will be taken seriously.

[osasshem]

This is a very nice initiative, and it is very welcomed to see something of this existing in our local board here in this forum. I see this as a means of rendering help within to ourselves in the most possible way. Good job OP for this wonderful initiative.

[Mia Chloe]

~snip

Anyone tried your service yet?

[Shadiq]

~snip

Anyone tried your service yet?

I haven't found anyone who has shown interest in using this service yet.

I'm still eagerly awaiting the first person.

[Mia Chloe]

~snip

Anyone tried your service yet?

I haven't found anyone who has shown interest in using this service yet.

I'm still eagerly awaiting the first person.

I wanted to use your service to kinda motivate you but I already spent some BTC maybe some other time....

[Nightwalker(NW)]

Wait do you really mean you are giving out loan without collateral or even interest while the borrower just borrow and go then return them back when the duration is reached is that what you mean?
If is so I must say that you are a very generous person I have even came across on this forum from my journey over here because lot of people wouldn't be that wanting to joke with their finances or even have to trust people around here to give out loan without collateral and interest while repayment.

[Tonimez]

~snip

Based on the PM you sent me, here is my 5 cents.... Firstly it's a nice service but I think you should make it more flexible. If you are loaning out in USDT try to ensure you can loan out regardless of the network (you could exclude ethereum network because of the extremely high fees) but for the others you should accept loaning out. Also try to accept the liberty of being able to accept other stable currencies like BTC as a way to pay the loan back.

Lastly you should consider thinning out the rules of late repayment instead of $5 fee which is relatively large for an average Nigerian you could use % increment based on the borrowed amount. All these must be negotiated when the person is taking the loan. Floxynice is having the upper hand because it's fiat which everyone uses ... Sha don't get discouraged....

This is very true and e sure say you get good mind. Some of the previous rules no too gel for users and especially that 7 days repayment and penalty percentage. At least for you to come make this suggestion means say you understand wetin people want and Nigerians wey we be. Hopefully more people wey dey in need go dey patronise am now.

Hello Naija people, hope everyone is well.
Some flexibility has been introduced in the rules to make this service easier. Hopefully, it will be a little easier to use this service now than before. Although no one has taken advantage of this service yet.

Changed rules-

• Loan repayment period has been increased to 14 days instead of 7 days.
• Late payment penalty has been reduced to $2 instead of $5.
• Merit requirement has been abolished.
• Signature campaign stay period (at least 4 weeks) has been set.
• Naija Local Board activity in the last 30 days has been reduced to 20% instead of 25%.
• Transaction addresses have been diversified.
• Telegram facility has been added to keep transactions confidential.

These rules have been changed to reduce the rigidity in using the service and be flexible so that it is easier to use this service. If there is still any error or rigidity in the rules, then feel free to comment. Your comments will be taken seriously.

This improvement is a very good one and it is good that all this kind thing dey happen for our local board. No be everybody wey they give suggestions dey listen to am but you don show say you dey ready to help people. Especially that part wey talk say the repayment time don move from 7 to 14 days na the Koko because I dey feel say e no go too easy for people wey dey use the service to repay and na why e be like say they no too dey get interest again.

You don try wella with this loan service and at least e go help person wey get emergency to tidy am without difficulty.

Also that part wey you reduce the penalty from $5 to $2 show say you mean to help mates. My advice na just make no body abuse this kind privileged wey don come here for everybody. You fit no need am today, but a day fir come wey you fit need am and if e no dey again you no go like am. At least person wey collect loan here without collateral no go see wetin people dey see for outside before anybody go give them loan.

Wait do you really mean you are giving out loan without collateral or even interest while the borrower just borrow and go then return them back when the duration is reached is that what you mean?
If is so I must say that you are a very generous person I have even came across on this forum from my journey over here because lot of people wouldn't be that wanting to joke with their finances or even have to trust people around here to give out loan without collateral and interest while repayment.

Exactly, na better person he be. The small penalty sef wey he put na for who no go like comply for wetin they agree. E go help people for this kind economy wey we dey face now. E no easy to see people wey go gree give out money without collateral this period because of how people dey always fail.

[Yablee0]

Sincerely speaking this form of kindness is very rare in our presence time for someone to single handedly carry the interests and load of others. I wish you more strength and wisdom to accomplish this great vision of yours, and one other thing is that  those that will be taking the loan please do well to pay back as of when due to reduce the stress on the persons in charge of the loan.

[Shadiq]

The service has been running for almost 5 weeks. There are still 7 weeks left.

[Jostern]

I will have to say this is a grate sense of humor, Not everyone can even think of doing such a thing given a loan to people who you don’t know, which I think it’s a means and a good gesture of helping people, you must have a good heart indeed, you must be a very kind fellow, but a piece of advice you should be careful with some folks that you will have to give that money, because there are people who will not want to comply.

Most importantly after taking the loan is to comply by paying back within the time duratio, or if you didn’t pay back before then you shouldn’t hesitate to pay the fine, well I will be considering this offer in due time, once again I must say it’s a good development.

[Shadiq]

Bump

The service has been running for almost 6 weeks. There are still 6 weeks left.

[Bitcoin.com97]

Thank you so much for this kind gesture, your kind are rare , this shows that you have your peoples at heart , considering  how all this loan company operate, their interest rate is very high , once you owe them , they will call you to glory , their way is nothing to write home about , Thank you for given people in need this opportunity, and I hope those given this opportunity will reciprocate and not stress you mentally, I wish you more wisdom to accomplish this kind gesture.

[Zackz5000]

I will have to say this is a grate sense of humor, Not everyone can even think of doing such a thing given a loan to people who you don’t know, which I think it’s a means and a good gesture of helping people, you must have a good heart indeed, you must be a very kind fellow, but a piece of advice you should be careful with some folks that you will have to give that money, because there are people who will not want to comply.

Most importantly after taking the loan is to comply by paying back within the time duratio, or if you didn’t pay back before then you shouldn’t hesitate to pay the fine, well I will be considering this offer in due time, once again I must say it’s a good development.

I don't believe that there will be any one who will not want to pay back his debt after due time remember there are penalties to defaulters and i don't think anyone will want to risk his account because of $50 at most knowing that you are in a signature champagne.
This is a good initiative OP is a kind gesture offering this service to our local board it will be of help to those who might find them selves in some emergency situations without much delay.

[Shadiq]

New addition:

• Loan amount has been increased from $50 to $200.
• Repayment period has been increased from 14 days to 30 days.
• Penalty has been increased from $2 to 2%.
• Only reputable Naija members can now use this service.
• The amount of remaining funds will be mentioned, you will apply for a loan accordingly.

[Tonimez]

New addition:

• Loan amount has been increased from $50 to $200.
• Repayment period has been increased from 14 days to 30 days.
• Penalty has been increased from $2 to 2%.
• Only reputable Naija members can now use this service.
• The amount of remaining funds will be mentioned, you will apply for a loan accordingly.

There's one thing about this initiative and the way you have been running it since this period it has been active. Being able to accept corrections and suggestions from members and moderators. This is huge and this new addition is making more sense already. With $200 someone can actually make a reasonable application of the fund which would add more value to his life. Increasing the repayment period again to 30 days is very commiserate with the increase in loanable amount. Keep up the good work and don't give up on it. Even if it looks like no one is interested don't panic because there might be a day when this scheme will be the only reason that would save a mate. This initiative you brought to local board is great and all the improvements are encouraging.

About increasing interest to 2% it's nearly the same as $2 and it's not a high interest as compared to many loan companies.

[Shadiq]

About increasing interest to 2% it's nearly the same as $2 and it's not a high interest as compared to many loan companies.

You are misunderstanding here. This is not interest, but a penalty. Which will be charged only if you delay in repaying the loan or if you violate the rules. If you repay the loan on time and you follow all the rules and regulations, then you will not have to pay any penalty.

I repeat, this loan service is completely interest-free. A penalty of 2% will be charged daily if someone does not repay the loan on time. If you repay the loan on time, you will not have to pay any penalty.

[Joy- maker]

I am interested in this service: yes
Loan amount: $100
Time:(Loan date-repayment date)05-09-2025
Your signature campaign sheet link: (last page where you can be found) https://docs.google.com/spreadsheets/d/1rNRSLd1weqeN1llpXNvulqlWs8vTCDYjXe-iHMQdNgc/edit?usp=drivesdk

[Shadiq]

@Shadiq am applying for a loan of $100.

Please follow the application format. Send a message on Telegram.

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)[/center]