Kiakia Loan Review [2020] : Read This Before Taking a Loan

I will be giving you a Kiakia Loan review, which has been developed based on experience, usage and reliable surveys. You are advised to read this first before taking a loan on Kiakia.

Kiakia Loan Review

Need a loan to grow you existing business into a large profitable one? Don’t go too far. I can certainly assure you Kiakia loan is a very good option.

If you are here, you surely need a fast loan and must have come across Kiakia Loan. However, those reviews you have heard might have been borne out of partiality and favouritism.

But, I will be giving you a brief and an unbiased Kiakia Loan review. Before I proceed, I should tell you a short story about how I first heard of Kiakia Loan.

I was in an urgent need of cash for a business project I was pursuing some years back. I ran to so many friends, but none could help. Fast forward to my salvation day, someone told me about Kiakia Loan.

Without much hesitation, I decided to go for it, and I got my loan in no time! Awesome right? Yes, I felt the same way too. That story should give you a good impression about Kiakia Loan. However, just like every other thing, it has its bad sides.

About Kiakia Loan

Kiakia, popularly known as “Mr K” is one of the leading institutions, which offers credit and investment facilities to MSMEs in Nigeria.

Kiakia Loan provides funds for personal and business loans with very flexible interest rates. Moreover, it is a very fast and secure way to save, invest and borrow money.

Kiakia Loan Information

Everyone wants a loan, but not everyone has the ability to pay back within the stipulated time. This happens mainly as a result of the way too high interest rates of most banks and lending institutions.

Here at Kiakia, you get to pay back your loan at a pocket friendly interest rate, within a fairly long period of time(tenure).

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How much can I apply for?

You can apply for as much as you need, but you are advised to take your income and expenditure into big consideration before submitting your application.

However, after submitting your application, Mr K will give you an estimate of funds you can be able to access based on the info you have provided. This is called a loan offer.

But, you can choose to accept or reject the offer, if it is not convenient for you or your plans.

How long is the Kiakia Loan Tenure?

If you are borrowing for the first time, the maximum tenure you can get is 30 days. But, the tenure of subsequent loans can be increased to a maximum of 18 months, if you have a good credit score.

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Kiakia Loan Requirements

To qualify and apply for a quick loan on Kiakia, you must have met some certain criteria. They include:

  • Applicant must be residing in Nigeria.
  • Applicant must possess a Bank Verification Number(BVN) and own an account with any commercial bank in Nigeria.
  • The applicant must be above 21 years of age.
  • Also, applicant must have and provide a valid means of identification (Work ID or Government-issued ID).
  • In addition, applicant must provide proof of income for the 6 most recent months(e.g bank statements or monthly income alerts).
  • The applicant must have a proof of verified source of income.

How to apply for a Loan on Kiakia

Follow this procedure to apply for a loan on Kiakia and get it approved in 5 mins.

  1. Visit the Kiakia website here
  2. Scroll down a bit and click on “Get a loan”.Kiakia Loan Review
  3. Create an account.
  4. Begin an application chat with Mr K.
  5. Enter desired loan amount.
  6. Upload your work ID or Govt-issued ID.
  7. Pick the Loan tenure suitable for you.
  8. After that, upload bank statement or alert screenshots of last 3 salaries payment.
  9. Then, accept/reject the loan offer from Mr K.
  10. Validate your bank details.
  11. Lastly, Wait for your credit alert.

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Kiakia Contact Information

Office Address – Plot 395A Etong Obuli Crescent, off Idris Ibrahim Crescent, Obafemi Awolowo way, Jabi, Abuja.

Email – helpdesk@kiakia.co

Other things about Kiakia

Enough of the hypes! Here, I will be disclosing to you what I personally find as a fault on the part of Kiakia. Remember, I’m here to give a honest Kiakia loan review.

Therefore, before you think of taking a loan, you should consider all these first. It is very important.

Firstly, Kiakia does not offer loan to students. If you are a student reading this and need a quick loan, then Kiakia is certainly not a good one for you. They believe students might not have the sources to repay their loan.

Secondly, Kiakia does not offer loan to set up a new business. Otherwise known as startups, new businesses do not qualify to take a loan on Kiakia.

This is because of the probability that the business might fail at the first trial, and the borrower could run into debt.

Further, the loan repayment tenure is too short. Most businesses need a while to generate profits, and 30 days is just too small for that.

In conclusion, Kiakia only offers short term personal and business loans, therefore the maximum loan tenure is fixed at 18 months.

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