Sycamore Presents Lending Platform for Businesses

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Bennett Oghifo

To address the difficult and cumbersome process of financial empowerment, Sycamore.ng is poised to advance the credit culture in Nigeria, by providing secured loans to individuals, micro, small and medium scale enterprises through the creation of a Peer-to-Peer Lending Platform.

Sycamore believes it has a solution to bring about financial freedom to its customers by connecting individuals or businesses looking for a good opportunity to diversify their income with responsible borrowers.

Officials of the firm said, “As a subscriber to the platform, you have the ability to either identify and select loan contracts yourself or simply opt to have your portfolio managed autonomously. Our platform provides a compelling combination of liquidity, low volatility and attractive returns.”

According to the Chief Executive Officer Sycamore, Mr. Tunde Akin-Moses, “It’s no secret that access to finance is one of the main issues affecting the rapid growth of individuals and businesses in Africa. Our mission is for individuals to achieve more through organised lending and borrowing.”

In addition, the Chief Marketing Officer, Miss Onyinyechukwuka Okonji said “Sycamore growth so far has been based on great customer experiences and the effectiveness of Word of Mouth Marketing. Improved marketing efforts are being made to attract new lenders and credible borrowers.” Finally the Chief Operations Officer, Mr. Mayowa Adeosun stated that “a marketplace exists with the Sycamore P2P lending with investments designed for individuals seeking long-term capital preservation and growth, this fund offers competitive returns compared to the average onlin
e lenders.”

The Company’s Board Chairman, Mr Bade Aluko (who is also the Chairman of GNI Plc), also attested to the importance of Sycamore’s vision, by emphasizing Sycamore’s use of robust alternative data to make accurate financial decisions, which yields the most value for both lenders and borrowers.

Established in 2018 as a brainchild of three Lagos Business School graduates – Tunde Akin-Moses, Onyinyechukwuka Okonji and Mayowa Adeosun, Sycamore has successfully facilitated transactions in the 9 figure range since inception. Sycamore has framed its business holistically around Sustainable Development Goals (SDGs) one, eight and ten (1, 8 and 10). With one loan at a time, Sycamore is helping to reduce poverty, foster economic growth and decent work in addition to reducing inequalities by providing the necessary springboard for small business to transit to big businesses. Sycamore is authorized by the Money Lenders Act Cap 52, incorporates solutions, such as Flutterwave, Paystack, Remita, NIBSS and BVN infrastructure among others.