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We work with you, for you, and never against you

Whether you need N50,000 tomorrow or an urgent N2,000, Irorun is one of the top loan apps in Nigeria, helping you borrow money online easily, and with low interest.

At Irorun, we understand your needs and, as you continue to repay your loans, we reward loyal customers with higher loan limits up to ₦50,000, low interest rates, and exciting perks like birthday gifts and bonuses for referring friends to borrow easily and meet their financial needs with us.

We reward our loyal customers with special perks, including interest-free loans for a limited time, so you can meet urgent needs without worrying about high interest rates.

With only a few clicks on your smartphone, you can
pay all of your bills and top up your airtime at the
lowest possible cost.

We will never misuse your data, resort to shady debt collectors, or harass your friends and family. If you are having issues with your repayment just reach out to us. We are always here to help.

Frustrating right?

Trying to reach out to a brand and not getting a response for days has to count as one of the most frustrating moments!

It gets even worse when it involves an issue that requires urgent attention.

At Irorun, we understand how frustrating and disappointing it could be especially when it involves money and that’s why we constantly find ways that allow you to communicate with us with ease via various mediums.

Everyone has a preferred contact method, and sometimes different problems have different ways they can be addressed. Here are 3 ways you can make inquiries/solve your problems with Irorun:

Read more: [How to spot a destructive small loan](https://irorun.com/blog/how-to-spot-a-destructive-small-loan)

## Contact us via email or phone number
At Irorun, we make it our priority to be available to assist all of our users, including prospective clients. This is why you can always, and at any time, send an email to Irorun if you have any inquiries or concerns that need to be addressed. In a matter of minutes or a few hours, you can get a reply to your inquiries and concerns.

If you feel like an email is not your style(and also doubt that your reply was written by a human), you can also contact us through our helpline made readily available for you on our website. We have representatives available to listen and help you solve your problems.

Read more: [What is a credit report and what can be found on it](https://irorun.com/blog/what-is-a-credit-report-and-what-can-be-found-on-it)

## Chat with an Irorun representative using our live chat feature
The world is miles ahead of Nigeria as regards technology. But Irorun quickly adapts and that’s why the live chat feature has been made available for you. It connects you with one of our representatives right there on the website or even on the app. This way you don’t have to worry about your contact details being in the wrong hands.

With our live chat feature, a representative will be there to guide you through any issue you’re struggling with, by giving you suggestions and directions on what approach can quickly solve your specific issue. All on the website.

Read more: [6 loan myths that have been debunked](https://irorun.com/blog/6-loan-myths-that-have-been-debunked)

## Go through our frequently asked questions (FAQs)
There may be inquiries that you need to make that others have made before you. When situations like this happen, Irorun takes a count of how many people have asked that particular question (phrased in different ways) and provides an answer for it which will then be made available on the website. These questions and answers are called FAQs — Frequently Asked Questions.

Most times, when you make inquiries through the live chat feature, you’ll be directed to the FAQs if it’s a question that has been answered. Irorun has a wide selection of FAQs that you can go through to find an answer to your inquiries and a solution for any problem you may be stuck on. Here’s a look at Irorun FAQs.

Read more: [How to compare different digital lenders](https://irorun.com/blog/how-to-compare-different-digital-lenders-and-choose-the-best-one-for-you)

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Reach out to us with your inquiries at [support@irorun.com](mailto:support@irorun.com) and we’ll be sure to give you more tips.

3 ways you can make inquiries/solve your problems with Irorun

If you have decided to apply for a loan but are still weighing your options on which lending route to take. Keep reading…

In this article, we’ll show you 5 major benefits of the digital lending route over the traditional lending route to help you weigh your options better.

Let’s jump right in!

## Faster approval process
Have you ever been to a traditional (offline) lending agency? Well here’s the thing, they require a lot of paperwork and by that, we mean actual words-on-paper kind of paperwork.

This can be very frustrating especially if you urgently need that loan. They take a long time to process the information given to ensure accuracy and consistency and this can span several days.

Digital lenders offer a way out of this by using advanced algorithms and data analytics to process loan applications quickly, often in a matter of minutes or hours. This means you can get your loan approved by a digital lender a lot faster than you would if you applied through traditional means.

## Convenient access
Another major benefit of digital lending over traditional lending is the convenience the former provides.

XYZ and Co. Lending corporations is a little too far a distance to be traveling when you can simply get a loan right where you are in the comfort of your home.

Digital lending offers you convenient access to lending services through the use of your smartphone device without the hassle of back and forth transportation.

No longer do you need to take lengthy or multiple lengthy trips to the bank or lender’s office, saving you from wasting your time and money. Visit Irorun today to get started on your first digital loan!

## Transparency
Digital lending platforms tend to offer broader transparency than traditional lenders do. This is because the lending platform (app or web) has all information relating to the loan right on the platform for the borrower to see.

Your loan term, interest rate and repayment schedule are all made available for you to view at your convenience.

Traditional lenders may not give you enough time to view your loan terms and as such may hide clauses that you may never get to see before you agree to a loan. This can lead to a loan default that would potentially damage your credit score.

## Flexibility
Traditional lenders tend to have limited loan options and strict criteria regarding their loans. This has led to many borrowers having to make do and manage any loan option available to them. Occasionally they end up struggling to pay back their debts due to rigid loan terms.

Digital lenders on the other hand are very flexible, they offer a variety of loan products with easily adjustable repayment terms allowing borrowers to choose a loan that fits their specific needs and budget.

##  Improved customer experience
Digital lenders place a strong emphasis on offering a seamless and user-friendly customer experience, with quick approval, and round-the-clock customer assistance. Digital lenders understand that to foster a sense of loyalty and raise customer satisfaction, swift and efficient customer support is required.

On the other hand, traditional lenders may not always offer the most attentive customer support and this may leave you hanging and uncertain about the next steps to take or the clarifications that you desire.

If you have more questions or are ready to kick-start your loan application process, send us a message at support@irorun.com!

5 benefits of digital lending over traditional lending


Do you know why Nigerians struggle with paying back the money they borrowed?

IMPUNITY. Yes! Most borrowers believe there are no consequences for defaulting on a loan.

Source — We no fit lie give you.

You may or may not know that most lenders also finance the money they lend to you from other sources and as such they can’t afford to forfeit. (Pity lenders, it’s really not a charity organization).

And that’s why there are PENALTY CHARGES for [defaulting on a loan](https://medium.com/@Theirorunapp/5-consequences-of-defaulting-on-a-loan-c1b1996a63c7).

PENALTY is the fine that lenders apply to borrowers who don’t pay back on time. It’s a common charge by lenders globally and also in Nigeria.

[Irorun](http://irorun.com/) wants you to be aware of all that is involved in applying, accessing and repaying a loan. Read further to find out what you should know about loan penalty charges:

## Each lender offers a different penalty fee
Although not widely known, each lender has different rates on their penalty charge. This charge normally ranges from 1% to 5% of the principal + interest for late payment and while this may be true for one lender, it may not be for another. Usually, the penalty charge is computed every day after a number of days the loan has gone past due. This is what is usually called the Grace Period. Fall from grace, and the penalty comes to you like a hammer.

Each lender’s charge varies, so before applying for a loan, you should take the initiative to find out what the lender’s fees are. Knowing what could happen when you violate loan terms can help you plan for future emergencies that may make you financially unstable and render you unable to pay back loans. (So that you’ll not say “They’ve stolen extra money from you” meanwhile you didn’t ask questions).

## Penalty charges may cause a dent in your finances
Money no dey×2, you dey add extra wahala on top the one you get 

The reason you may want to take out a loan or have taken one already owes to the fact that your financial standing at the time isn’t the best for one reason or the other, that is, you don’t exactly have the cash in hand or your bank account.

So imagine having to pay back extra on a loan that is already a hassle to repay, it will certainly put a dent in your low finances.

This is one reason you should endeavor to pay back your loan on time or request for a restructuring of your repayment terms if you are unable to repay the loan with the current terms. [Here’s what to do if you can’t repay your loan when due](https://medium.com/@Theirorunapp/what-to-do-if-you-cant-repay-your-loan-when-due-773eb03f7084).

## Your credit score may be affected
Remember “Credit Score = Creditworthiness (Loan Worthiness)”.

Your penalty payments are added to your credit history and this can end up lowering your credit score. If there were times that you owed long enough to be charged a penalty then there’s a good chance it’ll reflect in your credit history. Remember that your credit history is what helps in calculating your credit score, so with each penalty charge, there is a reduction or stagnancy in your credit score. (Lenders go begin dey run from you if your credit score low o!).

You may have paid up your debt, but the one time it went unpaid is still taken into consideration and this lowers your credit score, you become ineligible for larger loans. [Not to worry, Irorun can show you how to boost your credit score](https://medium.com/@Theirorunapp/how-to-boost-your-credit-score-e723bd2ce497).

## Difficulty in obtaining future loans
As you now know, your credit report is an important aspect of the loan application process and can be the reason you end up being unable to take any more loans.

Well, the reason is more than your credit report, after all, it only reflects what you have or haven’t done.

When you end up penalized for a violated loan term, it ends up on your credit report (even if it is rectified), this same report is used when applying for other loans.

Lenders are put off by the history of multiple penalties in your credit report and this affects your chances for future loan approvals. Every penalty present on your credit report is a stain on your reputation as a borrower and lenders will always be wary of bad borrowers.

…

[Irorun](https://irorun.com/), like other responsible lenders, may apply a penalty to you if you don’t pay back on time and you never discussed restructuring with us.

And that’s why you can always reach out to us at support@irorun.com to inquire about our loan process as well as restructure your loan terms.

Better safe than sorry right?

Send us a message now!

What you should know about loan penalty charges

Do you still frown your face and feel uneasy when you hear the word “loan?”

Do you still have some unresolved fear or doubt about anything loan-related? 

Then you’re in the right place — this article shows you 7 reasons why taking out a loan is no longer considered scary.

Check them out

## Increased accessibility
One of the major reasons why individuals used to be apprehensive about taking out loans, was mostly due to the inaccessibility of loan agencies and credible lenders. Fortunately, with the steady rise of online lending platforms, it has become easier for individuals to access loans even from the comfort of their homes with minimal documentation, favorable fees and hassle-free. This has greatly improved the face value of how most individuals view loans these days.

## Improved lending standards
Lenders have become more stringent in their lending standards, ensuring the utmost principles and values are upheld. They’ve also made it tougher for malicious individuals to run away from their loan obligations. These standards have also made it difficult for fraudsters and identity thieves to carry out criminal plots, and have made it nearly impossible for individuals to take out loans if they don’t have the means to do so. All of these improved standards have helped in assuring individuals that it’s okay to apply for a loan now. It’s not so scary anymore.

## Better loan products
There are now loan products that cater to the specific needs of individuals. Previously, there were recurrent issues with loans because of the rigidity, as loan terms could hardly be renegotiated and this caused a lot of borrowers to fall into default.

Now, loans can be adjusted to meet the needs of the borrower with terms that are acceptable to both parties. Do you see why it’s not so scary again?

## Greater transparency
Some lenders, without the enforced laws, previously relayed their terms and conditions with lending jargon. Some lenders were also guilty of hiding or stylishly omitting certain key information that could affect a borrower’s loan, causing the individual to get stuck in bad debt.

Fortunately, the laws and policies enacted have made it compulsory for lenders to disclose all terms and conditions clearly and concisely, making it easier for borrowers to understand the full cost of borrowing.

## More flexibility
Loans are no longer scary and it’s also thanks to the flexibility of some loan products, there is now an increased repayment period flexibility, which allows borrowers to choose a repayment period that suits their budget.

In this way, borrowers can take out loans and pay them back without putting a huge dent in their finances.

## Improved customer service
It used to be difficult for borrowers to make enquiries about loans or get in touch with the lender when they had a problem that may affect loan repayment.

Lenders have now improved their customer service to help borrowers throughout the loan process and to answer any questions they may have. Send our customer support team a message at support@irorun.com and let’s get you started on a loan product that fits you.

## Better loan management tools
It’s not easy to manage a loan and that’s why many lenders now offer loan management tools online that help relieve that burden.

Tools like automatic payments and portals for tracking payments and balances have been made to help ease loan repayment and keep track of current or previous debts. All of these tools help borrowers stay out of bad financial situations and protect their credit history.

…

Now that we’ve been able to convince you that the lending world is not so scary anymore — Reach out to us at support@irorun.com, and let’s put you on a loan that fits your current financial situation.

7 reasons why taking out a loan is no longer considered scary

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Irorun Blog

3 ways you can make inquiries/solve your problems with Irorun

5 benefits of digital lending over traditional lending

What you should know about loan penalty charges

7 reasons why taking out a loan is no longer considered scary

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