Social lender


Social lender Review – How to apply, interest rate and repayment

Social lender is a lending solution and a Fintech company that usually determines loan offering or credit worthiness through the social reputation of obligors on mobile, online and social media platforms.

These may be members of Sterling bank social media communities who by extension have and are running sterling bank account.

Social lender like most other online loans is an unsecured loan which is aimed at helping members of these communities to meet their emergency cash needs, where repayment comes at the next pay day or more as the bank deem necessary.

Usually a short term loan measured between N10,000 to N100,000. Accessing loans can be done via SMS, USSD code, mobile app and website.


Social lender is founded by Faith Adesemowo and Bade Adesemowo in 2015, which was meant to impact financial inclusion by creating a straight forward and unstrained financial services.


  • The loan approval process is swift and timely
  • Loan is determined according to social media profile
  • Loan does not require collateral
  • Loan is offered based on social score


  • Obligor limit is low/loan amount is low
  • The loan is usually short term


  • Social lender loan supports Facebook and Twitter users, so you should have been using any of these social media platforms as an entrance qualification step, log in from the interface provided to commence your loan journey.
  • Basic user social media details are required
  • Your school and work details
  • Valid telephone number
  • Bank account details, not necessarily Sterling bank.

How to apply for Social lender loan

As a registered user on Social Lender you will have to click on “Apply for cash” button, where the cash request page will indicate to the user the maximum cash request eligibility. However, the minimum social reputation score for a new cash request will also be indicated.

On approval of your cash request, fund will be disbursed to your verified bank account.

To apply for a loan via SMS

You can get a loan up to N10,000 as inferred by your social reputation,

  • Kindly text SOCIALLENDER + AMOUNT to 30812

To apply for a loan via USSD

  • Dial *348*3# to access the USSD2Loan channel available in Nigeria for now.

To apply for a loan via Mobile app

  • You will need to share your mobile data with Social lender to improve your social reputation score. Download the social data manager on Google play store.

How much can I request?

Cash request usually ranges from N1,000 to N100,000 where you can access a maximum of N10,000 from the first few transactions.

The maximum amount increase over time based on repayment and successful transactions which boosts credit ratings too.

What is the interest rate charged?

Per cash request, you will be charged between 5% to 20% of the disbursed amount. However, charged as part of your repayment amount. You can get a lower transaction charge to designated partner bank accounts on the loan platform.

When do I repay the loan?

Users are usually allowed the opportunity to dictate the repayment date, where a minimum lending period is pegged within one month for your first few transactions on the platform.

You are expected to pay back cash into the advised bank account.

Name: Social Media;

Bank: Sterling bank,

Ac no: 0026503494

Kindly ensure your full name and verified mobile number is indicated to help with clarity during automatic reconciliation.

How to pay back the loan

You can repay your loan via

  • Mobile money
  • Bank or online transfer
  • Online payment switch and options available.

What happens if I couldn’t repay on the due date?

You must rollover the cash request by the repayment date, which could be recognized as a new cash request. Do understand that you must pay the transaction and service charge by the end of repayment period regardless of repayment of the principal.

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