Cameroon's number of money lenders or money lending companies, and micro-finance firms is growing extremely fast. Getting instant loans in this era has become much more straightforward. As a result, identifying the best lender for you can be a challenge.
Fraudulent scams and lenders exist almost everywhere and are ready to rip you off. There is a big difference between loans from bandits and those from lending or finance firms.
Lending firms remove the question of guarantors and security before they offer their loans. On the other hand, Banks in Cameroon will ask you to seek guarantors, and then you have to secure your loan.
While lenders have many pros, borrowers should be keen not to be conned by dubious companies. Before you seek the services of some of these money lending companies, be sure to check their registration status.
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Many people opt to get money from lending companies at the expense of banks and other traditional institutions. Perhaps it's because they are sure to get an instant loan without much paperwork, unlike their banking counterparts.
Money Lenders in Cameroon: Get Quick Finance Loans Online
Below is a list of the top or best companies that offer quick instant loans in Cameroon:
- UBA Cameroon
- Azire Cooperative Credit Union
- BICEC Bank
- Express Union Cameroon
- Temo group Finance
- Presbyterian Micro Finance Institution Limited (PRESMFI)
- Njangi Groups
1. UBA Cameroon
Whether you need working capital for your small business or need to handle a family emergency, UBA Cameroon lets you get an instant loan from 100,000 FCFA to 50 million. As you take loans and pay them back, the system trusts you more, offering you higher amounts each time.
You will need to open a bank account to benefit from their services.
2. Azire Cooperative Credit Union
Azire Cooperative Credit Union is a Micro Finance Company licensed in Cameroon under the Company's Act. Providing Emergency Loans to all Civil Servants and businessmen is their founding vision.
Its newest Logbook Finance product also offers loans to employees of selected private sector companies and business people.
3. BICEC Bank
BICEC bank has expanded to offer a wider variety of financial products that target privately employed salaried workers, landlords, and importers. Being one of the oldest banks in Cameroon, it is safe to say banking with them has limited risks. Shaka Credit loan application process is fast and convenient.
4. Express Union Cameroon
Express Union is a micro-finance company that started this journey in 1997. It is a fully registered company with a trading and money lending license under Express Union SA Cameroon. It provides emergency instant loans designed to suit a client's needs.
5. Temo Group Finance
Temo group Finance focuses on delivering top-notch business solutions to the business world by providing quick and flexible loan amounts agreeable between them and the borrower. It provides you with quick emergency loans to enable you to attend to your immediate financial needs. Simple items like Laptops, TV screens, cars, iPhones, and Android phones can act as security.
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6. Presbyterian Micro Finance Institution Limited (PRESMFI)
Presbyterian Micro Finance Institution Limited (PRESMFI) is a Christian-owned and operated mission-driven microfinance network. It works with caregivers in hard-to-reach, impoverished locations so they can create secure futures for their children. It is managed by the Presbyterian Church in Cameroon (PCC).
The products and services offered fall into five broad categories: micro-loans, savings programs, micro-insurance, training, and education. Benefits, therefore, include sustainable livelihoods, increased economic well-being, improved community well-being, decreased dependence on outside aid, and restoration of hope and dignity.
7. Njangi Groups
These are peer-to-peer lending platforms bringing together lenders (investors) and borrowers. When a borrower expresses interest in getting a loan, he provides collateral against which the lender (investor) funds the loan and earns interest. Njangi groups claim to be highly committed to the safety and security of this transaction.
However, it should be noted that Njangi groups are known for their interest-free loans. This is because members contribute monthly. Afterward, single members benefit from this contribution and, in turn, contribute for other members to get lump sums at the end of additional months in a calendar year.
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Disclaimer:
The intention of this article is for general informational purposes only. It is not a substitute for professional advice or help. It does not address individual circumstances, and Temo group will not be held liable for any damages arising from the use of this article.
You should therefore not rely on it to make decisions of any kind. Any action you take upon the information presented herein is strictly at your own risk and responsibility.