What is a personal loan?

What is a personal loan?

A personal loan may be a loan given to the borrower with no requirements dictating the way to use the cash. This means you’ll use your loan for whatever you would like, unlike a mortgage or an automobile loan, which need to be wont to finance your house or car, respectively.

Why are interest rates for private loans above mortgages or auto loans?

By contrast, a private loan may be a sort of unsecured loan with no collateral to back it up. If you don’t pay back your consumer loan, your lender can’t just come to take your stuff. Therefore, lenders must charge more interest for unsecured loans to catch up on their increased risk.

Can I prequalify for a loan? Yes. Here’s how the private loan process usually looks:

Visit www.creditdirect.ng and click APPLY NOW and fill in the necessary details and requirements.
The lender approves you for the loan and deposits the funds into your account. Quick. Easy. Smart.

When should you take out a personal loan?
You may consider removing a private loan if you would like an enormous influx of money and don’t mind paying interest for the convenience.

Here are some common reasons why folks remove personal loans:

• Cover the expense of renovations or repairs.
• Paying for a huge event sort of a wedding or fundraiser.
• Unexpected expenses such as medical emergencies.

While it’s generally recommended that you simply only combat debt for essentials like medical emergencies or home repairs, it’s still okay to remove a little consumer loan for things that contribute to your happiness and psychological state, sort of a vacation or a replacement motorcycle, as long as you’re comfortable with the interest.

Credit Direct offers quick loans, emergency loans, and federal government employee loans to enable peace of mind.

3 Ways to Save Money on a Tight Budget

When you’re already on a tight budget, it’s difficult to find additional ways to save money.

But it is often important to line aside a minimum of touch for the longer term, regardless of what proportion of income-you currently bringing in.

Here are three ways you’ll economize even when you’re working hard to measure on a budget.

Consider Your Food Bill

Another way to save lots of money is to vary the way you eat.

It’s so less expensive to eat leftovers from last night’s dinner than to travel out for lunch.

And the value of dining out tends to rise faster than the cost of groceries.

In the 12 months ended in July 2019, prices for food purchased to eat at home rose 0.6% while the cost of eating out increased 1.8%.5

And you’ll also economize by buying frozen or canned fruits, beans, and vegetables.

Work on Paying off Your Debt

You may be surprised at just what proportion you’re paying in interest each month if you are carrying a balance on your credit cards. The average annual percentage rate on MasterCard accounts that were assessed interest in November 2019 was 16.88%.6

Taking steps to pay off your debts as quickly as possible will free up additional money in your budget and make it possible for you to do more things with your money. If you would like to be easier and save, getting to obviate your debt is a crucial step.

Cut Back on Big Expenses

Take a glance at the large items in your overall budget. Is your car payment too much?

Can you find a less expensive place to measure that’s still nice? Could you progress in with roommates to save lots of on rent?

These options may be the last steps you take as you look for ways to increase your savings, but they really can help you save a good amount of money on your bills each month.

The lower you retain these costs, the better it’ll be to stay within your budget.

How to save money during uncertain times.

How do you save money during uncertain times? Maybe you enjoy collectibles or owning the newest tech devices. If your purchase doesn’t cause you to money supported the quantity that you simply spent, then buying it during times of uncertainty won’t be the simplest choice.

You are on top of things about how to save money during uncertain times. Checking your savings and your spending habits, and therefore the buying decisions you create today could potentially have a positive or negative impact on your ability to live with the knowledge of how to manage money wisely.

save money for groceries.

Have you ever shopped for groceries once you were hungry and returned home having spent quite originally expected? Budgeting for groceries might prevent many dollars monthly and will possibly help contribute to raising money management.

You might decide to order smaller restaurant portions.

Deciding to chop your restaurant bill in half by ordering a smaller portion could potentially help with money management during difficult times. Some people plan to cut one meal in half to share with their tablemates.

You might also consider other money-saving options like ordering water rather than tea, soda, or alcoholic beverages. Some diners share an appetizer rather than spending additional money on individual meals.

Credit Direct offers fast loans to government employees Quick Loans, Emergency Loans, Fast Loans, whatever your needs, we have it. Contact us today.

4 Reasons You May Need To Take Out a Loan

All across the world, the Coronavirus pandemic has forced small businesses to scale back operations, let go of staff and for most parts close down indefinitely. Under normal conditions, it can be possible to run your finances properly without taking out a loan. But there is nothing normal about a crisis like this, and the situation has created a financial burden for most people.

You might ask what anyone could need a loan for at this time well; let us give you a few reasons for you to reason with:

  1. Securing Accommodation

Cash flow may not be coming as fast as you would have hoped for at this time but the reality is that your rent, school fees, health bills, etc. do not respect this so,  zero-collateral loans like Sharp Sharp by Credit Direct can handle that for you because to be safe, you will need shelter.

  1. Education Loan:

From paying for your online Master’s program to taking a course that will improve you or your business, you don’t have to wait for the ‘’perfect time’’ because it really might not come so a quick loan can save the day (or your future).

  1. Your side hustle:

As a corps member, you might find yourself with more time on your hands now due to the lockdown, explore that business idea, take that course, Empower The Corp (ETC) Loans by Credit Direct is just what you need right now.

  1. Health Loan:

The fact is that when there is life, there is hope. Doing nothing when your health is down shouldn’t be something you want to joke with so whether there is cash or not, your health matters, including those with kids and elderly dependents.

In the end, we all want peace of mind and it should not exist only when we have everything. That is why at Credit Direct Limited we provide zero-collateral and low-interest loans. Click here to find out more about low-interest loans from Credit Direct. Don’t forget to share this with someone.

Credit Direct Limited, you are guaranteed PEACE OF MIND. We grant Quick Loans without collaterals in few hours and you can get Fast loans online to enable you to start off on your new stream of income. Pay bills and live a good life with our low-interest loans.

Click here to find out more about low-interest loans, Quick Loans, Emergency Loans, Fast Loans, whatever your needs, we have it. Contact us today.

Tips for managing and resolving conflict

Conflict is inevitable. It is impossible for two people to always agree on everything. The earlier one realizes that conflict is a normal part of any relationship, the better. The most important thing is to learn how to resolve it in a healthy way. Not being able to manage conflict tends to cause great harm in any relationship. But when it is managed in a positive way, it strengthens the bond in any relationship.

Below are some tips to guide you on how to manage and resolve conflict;

  • Prioritize resolving conflict rather than winning or “being right”

Maintaining and strengthening the relationship, rather than “winning” the argument, should always be your first priority. Be respectful of the other person and their viewpoint.

  • Be focused on the present

If you still hold on to grudges based on past conflicts, you won’t be able to see the reality of the current situation. Instead of looking to the past and assigning blame, focus on the present and what you can do to solve the problem.

  • Know when to let something go

If you can’t come to an agreement, agree to disagree. It takes two people to keep an argument going. If a conflict is going nowhere, you can choose to disengage and move on.

  • Listen for what is felt as well as said

When you really listen, you connect more deeply to your own needs and emotions, and to those of other people. Listening also strengthens, informs, and makes it easier for others to hear you when it’s your turn to speak.

  • Be willing to forgive

Resolving conflict is impossible if you’re unwilling or unable to forgive others. Resolution lies in releasing the urge to punish, which can serve only to deplete and drain your life.

That is why at Credit Direct Limited you are guaranteed PEACE OF MIND. We provide zero-collateral and low-interest loans. Click here to find out more about low-interest loans from Credit Direct. Don’t forget to share this with someone.

Click here to find out more about low-interest loans, Quick Loans, Emergency Loans, Fast Loans, whatever your needs, we have it. Contact us today.

Cash flow During Difficult Business Cycle

The cliché Cash is King has never been so apt as now, the Corona Virus Pandemic has distorted revenue pipelines and starved business of cash to execute projects, almost tending to bankruptcy for some.

Business owners understand that cash is the lifeblood of an enterprise routine operational activities such as purchasing supplies, paying salaries, and paying bills depend on its availability

Cash flow refers to the total amount of money that is generated and expended by a business and determines the liquidity of the organization.

For small and medium businesses, the ability to generate sufficient cash and manage liquidity will be a deciding factor in whether it survives the shock and aftershock of the difficult economic cycle caused by the pandemic.

During economic downturns, cash flow generation might be limited due to the drop in sales or revenue, disruption in supply-chain, large inventories tying down cash, and growing receivables. More precarious is the fact that banks and other lenders become more cautious in the grant of credit to business at such times to ensure the preservation of the depositor’s funds from high-risk ventures.

Small and Medium Scale businesses taking the foregoing into consideration must implement certain strategic cash management measures to keep them afloat during this period.

Identify the Income generation and expenditure points

Sources of cash are those activities that are cash-generating and the use of cash is the ones that reduce the money in the business. For E.g.  Credit from Customers is a source of cash generation while an example of a use of cash is the purchase of a van for the business.

Understanding how cash comes into and leaves your business will help you decide how to restructure activities to keep liquidity robust enough to support operations. In the instance above, the firm owner can decide to delay the purchase of the van and leverage credit from suppliers to generate the cash it needs or conserve its cash buffers.

Carry out a risk assessment to business cash flow

After mapping out cash inflow and outflow in the day-to-day running of the business, owners and managers need to understand the various types of risk to their cash flow that they face. The risk to the liquidity position of a business can emanate from shocks to revenue, high-cost structures, “too early” settlement of obligations, and debtors that are slow in clearing out their liability to the business.

These challenges must be ranked in a way that reflects their probabilities and likely impact on the firm. By doing this, the business has an airtight framework to help in designing a strategy that will limit their risk of going-under due to insufficient funds.

When it is the case that slow sales are stifling cash inflow, the business can seek out other revenue streams to keep money coming in. Businesses into perfume production that shifted to the production of sanitizers is a clear instance of how practical and helpful this step is.

Next, if it is a problem of the cost burden, then those businesses can work to delay the settlement of those obligations and digitize some of their processes to reduce their expenses.

On the other hand, there is no one way to deal with the problem of receivables that have been delayed. The business owner can try to negotiate incentives like a discount to encourage debtors to pay early.

Keep an eye on your Cash Conversion Cycle (CCC)

Cash Conversion Cycle (CCC) is the number of days it takes for a business to convert its investments in inventory into cash. Investopedia defines it as how fast a company can convert cash on hand into more cash on hand.

CCC is the sum of the days it takes to sell your inventories (Inventory Days on Hand) and get back receivables (Days of Sales Outstanding) minus the days it takes to settle Payables (Days of Payables Outstanding).

Keeping accounting technicalities out, the logic is that if it takes lesser days to sell inventories and get back money owed to the business while it takes the firm more days to pay suppliers, the shorter their CCC would be – which is a good thing since they can put that cash back to use.

Secure supply chain

A major cash flow risk to businesses is the disruption to their supply chain which affects revenue-generation or leads to a spike in cost if the firms must replace suppliers at unfavorable terms.

Businesses need to secure their input supply by ensuring that if their suppliers are in distress already, they have mapped out alternatives to ensure their own operation is not jeopardized.

Factoring Government intervention

Businesses can also explore other financing options to inject more cash into their operations. We have several options like government grants or relief funds are often under-explored by businesses and another option is for businesses to factor in their account receivables.


Tips to control your Spending Habits

Some people are in debts and are struggling to save money for the things they really want. No matter how hard they try to save money, it is just never enough. Even after getting promoted at work and start earning more, they always think that could fix their problems, but they still find themselves in such situation and they ask themselves; why? Well, the problem is not about how much you earn or have but your spending habits.

It is not going to be an easy task but with hard work, it is possible and the number one step is your willingness to change.
Below are some insightful tips on how to control your spending habits.

1. Ask Questions: Many of us are fond of not assessing our purchases and almost everyone is guilty of this. Assessing your purchases is more important when you are about to buy something. Also, we do impulse buying i.e., buying things not planned for. Impulse can make us buy things we will regret as we only think about the consequences afterwards. So, it is therefore very important to ask yourself; why am I buying this thing? When you ask this question, you are immediately reflecting about it.
Say for example, you want to buy a car. You ask yourself, why am I buying a new car? What is wrong with the one I am currently driving? Majority of the times we ask ourselves questions like this, who do not always find a decent reason for wanting to buy it.

2. Have a Budget: Creating and having a budget forces us to think about every purchase we make. Your budget can be daily, weekly, or monthly. When creating a budget, it is better to assign it to something meaningful to you. When you do this, you will be able to stop your meaningless and unnecessary purchases to keep within the budget and achieve whatever your goals are.

3. Willingness to change: You cannot be doing the same thing repeatedly and expect different results, it is not possible. One the main causes of some people’s financial problems is their unwillingness to change their lifestyle. You cannot be living an extravagant lifestyle and expect not to one day be faced with financial issues. It is not going to be easy but your willingness to change is surely a major step in curbing this.

Dealing Effectively With Financial Stress

Having to deal with money worries can be frustrating. Financial problems can take a huge toll on your mental and physical health, your relationships, and your overall quality of life. Feeling beaten down by money worries can adversely impact your sleep, self-esteem, and energy levels. It can leave you feeling angry, ashamed, or fearful, fuel tension and arguments with those closest to you, exacerbate pain and mood swings, and even increase your risk of depression and anxiety. You may resort to unhealthy coping mechanisms, such as drinking, abusing drugs, or gambling to try to escape your worries. Whatever your circumstances, there are ways to get through these tough economic times, ease stress and anxiety, and regain control of your finances. 

A.     Plan and stick to it: Just as financial stress can be caused by a wide range of different money problems, so there are an equally wide range of possible solutions. The plan to address your specific problem could be to live within a tighter budget, curb your online spending, and so on.

B.     Create a monthly budget: Whatever your plan to relieve your financial problems, setting and following a monthly budget can help keep you on track and regain your sense of control.

C.     Manage your overall stress: Resolving financial problems tends to involve small steps that reap rewards over time. In the current economic climate, it is unlikely your financial difficulties will disappear overnight. But that does not mean you cannot take steps right away to ease your stress levels and find the energy and peace of mind to better deal with challenges in the long-term.

D.    Take inventory of your finances: If you’re struggling to make ends meet, you may think you can ease your stress by leaving bills unopened, avoiding phone calls from creditors, or ignoring bank and credit card statements. But denying the reality of your situation will only make things worse in the long run. The first step to devising a plan to solve your money problems is to detail your income, debt, and spending over the course of at least one month.

E.     Talk to someone: When you are facing money problems, there is often a strong temptation to bottle everything up and try to go it alone. Many of us even consider money a taboo subject, one not to be discussed with others. You may feel awkward about disclosing the amount you earn or spend, feel shame about any financial mistakes you have made, or embarrassed about not being able to provide for your family. But bottling things up will only make your financial stress worse. In the current economy, where many people are struggling through no fault of their own, you will likely find others are far more understanding of your problems.

While talking to someone, why not just talk to us. let us help you out. Need loans? let us help you- get quick loans up to N2,500,000 call 01 4482225 or log on to www.creditdirect.ng. Loans available to salaried employees only.

Open Collaboration Meets Professionalism – A Tour of the CDL facility

Sequel to the official inauguration of our Corporate Head Head in Lagos, Tech Africa Team visited the office for a tour on the facility. They were introduced to different divisions and Units in the company including a visit to the Ladi Balogun Theatre. The facility has all the amenities of work space that encourages work life balance. A state of the art gym and relaxation lounge.

Click this link to read the complete- https://techpoint.africa/2018/10/17/credit-direct-limited-new-office/ 

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Rules to handling your personal finances

A hungry man is an angry man, same applies to a wealthy man is a happy man; Your financial situation reflects your total well-being and how best you perform depends largely on how well you take care of yourself. The same way you take care of your body is the same way you are expected to take care of your finances and this should be a priority of your thoughts.

We all have our ways of life and directions in handling things. We grew up with habits defined by our cultural lines but when it comes to finances, there are standards that we all live by. Just like you have regular checkups and dates with the doctors you should also have time to reflect on your financial health. There is structure in financial management and there are a lot of things to do to ensure we stay financial literate. We have laid out 4 basic personal finance rules that can guide you on starting out:

Getting multiple streams of income

Back in the day it was strange to have multiple streams of income. People were ok with just one job and all that came from it. Your salary was just enough to sustain you all month but the truth is there is no security in one stream of income. The economy is tight and it makes it almost difficult to sustain on one income. You should therefore set up a side business that would support your regular income. This can help you fund your lifestyle and hey! if you need a loan for it, Credit Direct Quick cash Loans have you all covered.

Your Salary and Your savings are totally different

Your salary is what you get paid when you meet the set expectations of your employer but your savings is what pays you. You work today so you can get paid, so also you save today so your future is secure. No matter how you procrastinate, your lack of savings today would dent your happiness in future; It would always certainly catch up with you. Imagine how you would have to explain to your children in future how you failed to save. The key to financial security is setting aside a certain portion of your salary now and planning for the future


“Birds of a feather flock together”… If you hang around loose spenders, you would end up with holes in your pockets. Cut your coat according to your cloth. It means live within your means. No matter how you try to fake it, you are not it. If you know you cannot afford a particular lifestyle then you must not continue faking it cos you would end up in debt and attendant issues. Don’t live for others, never stress to impress anyone and always stay in touch with reality.

Impulse buying

A lot of us are guilty of this. We buy what we want and not what we need. Some people have 4 sets of the same shoe type in different colours. Most of us rush to buying expensive “Aso ebi” for weddings when we really don’t need them. We live to impress people daily and end up running down our finances. To manage your finances, you need to reduce spontaneous buying to its barest minimum.

If you judiciously adhere to this step by step process, you would certainly build a good savings habit and progressively grow your finances. Well, with Credit Direct Limited, you are guaranteed PEACE OF MIND. We grant Quick Loans without collaterals in few hours and you can get Fast loans online to enable you start off on your new stream of income. Pay bills and live a good life with our low interest loans.

Call our lines 01 4482225 or send an email to cashtogo@creditdirect.ng. Loans available for salaried employees only

Quick Loans, Emergency Loans, Fast Loans, whatever your needs, we have it. Contact us today