Eventustaculia:
Strategy of online loan apps revealed.

Understanding the strategy of online loan apps is simple

Now when you sign up, they give you 7,500 Naira to repay 10,000 in one week and when you repay they make 2,500 from you as I interest.

Following week, they give you 7,500 again and when you repay they make another 2,500 interest and when added to the first 2,500, they make 5,000 Naira from you in 2 weeks.

They repeat the 7,500 borrowing twice again and make 10,000 from you as interest in 1 month.

They now increase your borrowing to 9,500 Naira, to repay 12,000 and that 9,500 in essence is the 10,000 Naira they made from you as interest.

By this time they are not borrowing you their own money but your very own money where they stay in control and increase the funds as you keep borrowing...

Thanks for this info.