What is the Lendsqr web app
Lendsqr provides you with a free web application that is designed to give your users access to your loan products and solutions. Whether users are looking for personal loans, home loans, car loans, or any other type of financing, you can create these loan products on the Lendsqr admin console and your users will be able to access them on the web app.
How to access the web app
As a Lendsqr lender, you get a dedicated web app immediately signed up on the Lendsqr admin console.
To access your web app, click the logo at the top right corner on the admin console. Your webapp link is located in the modal that opens.
Once you click on it, you will be redirected to a new page to sign up on your web app. You can also copy the link directly by clicking on the “copy” icon and share it with your customers as needed.
Configurations that need to be done to ensure the web app works
Set up your loan products
First, you need to set up the loan products on the Lendsqr admin console. Your loan products are your loan offerings that your users will be able to view on your web app and apply for.
Once an application is done, you can then review, approve and disburse the loan on the admin console. To learn how to create a loan product, kindly view the guide here: How to create a loan product
Set up your decision model for each loan product
Also, if you do not want to use the default decision model that exists on your console, you can configure your own decision model and map it to your loan products.
To learn more about Decision models, kindly view the guide here: The Lendsqr Decision Model
Fund your Disbursement account
To be able to disburse loans to your customers, you will need to fund your disbursement account. This account is unique to just you and was automatically created for you when you signed up on the Lendsqr platform.
To better understand your disbursement account and how it works, kindly read the Managing your disbursement account guide.
Bonus Section: Customizing and Personalizing your web app
While this is not required to get your web app working, personalizing your web app to capture your brand is a good way to gain your customers trust!
The first and easiest thing to do is to update your logo! Learn how to update your logo here: How do I change the logo on my web app. Once your logo is updated, your users will be able to view your logo when they view your web app.
You can take the customizations a step further by updating the look and feel, to properly represent your company’s brand by changing certain images, colors and texts on your web app.. To learn how to do this, kindly view the user guide here: Customizing your Web app on Lendsqr Admin Console.
Details required to sign up on the web app
To sign up on your web app, there is some information you need to provide. Not to worry this data is secure and will not be shared with third parties or used inappropriately.
Your phone number
Your BVN details
A selfie for your profile picture.
Your bank details which you can transfer money from your web app to.
A transaction pin: This is created by you to authorize transactions on the app.
What your users can do on your web app
On your web app, your users can perform the following functions,
View your loan offers which you have created as loan products.
Upload required KYC documents
Apply for loans through our seamless loan application process
Receive loans approved and disbursed by you to their in app wallet.
Transfer money from their in app wallet to their bank accounts
Repay their loans from their wallets or with their debit cards.
Requirements for a loan application on the web app.
To apply for loan on the web app, your users will be required to do the following:
Provide their next of kin details.
Provide the required KYC documentation based on what you set
Link a debit card attached to their bank account. (This card will be debited for loan repayments once a loan is due. Also there is a default ₦50 charge collected for card linking.You get settled this amount (less the processor fee e.g Paystack, Seerbit) and you can also specify the amount you want.
Provide their personal information
Provide their education and employment information.
Provide their bank statement data if required.
Your users will also pass through the decision model checks to confirm if they are eligible for a loan based on what has been configured on the decision model. To understand why users may fail these checks, kindly view the guide here: Top 10 reasons the system auto-decline loans.
Once a user has been able to successfully apply for a loan, the loan will be displayed on the loan request page. To learn more about reviewing a user's loan request, kindly read the guide on Reviewing and approving user's loan requests.
Once you have approved a loan, the loan amount will be disbursed to the user’s wallet and the user can then make a transfer from their in-app wallet to their bank account.
Once the loan is due, your user's wallet or card will be automatically debited for the loan repayment or they can repay by themselves via the web app.
Who to reach out to if you need some assistance
At Lendsqr, we genuinely care about you and your business. If you need more information or assistance, please reach out to us via email at support@lendsqr.com or call us on +234 1 700 5282.
If you love to chat, we are right there within the admin console, just click on the chat icon on the bottom right and send us a message - someone is usually available to provide assistance.