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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.


“Imagine losing money this period?”

Terrible thought right?

That’s why Irorun curated 4 financial scams you should watch out for. Because how can you avoid what you don’t know about?

## Phishing scams
Perpetrators of these scams usually send an email or text message with a link that can be used to access sensitive and private information such as passwords, security details etc. Which could spell a disaster for you. These emails are usually tailored to look like they come from an authentic source. Werey dey disguise.

They often tell a story to trick one into clicking on a link or opening an attachment. It could come as an unexpected email or text message that looks like it’s from a company you know or trust, like a bank or a credit card or utility company.

The message could be from a scammer, who might say they’ve noticed some suspicious activity or log-in attempts), claim there’s a problem with your account or your payment information, or say you need to confirm some personal or financial information.

To avoid falling victim, you should watch out for links in unexpected emails or texts from unknown sources.

Read more: [What is found in a typical loan terms and condition](https://irorun.com/blog/what-is-found-in-a-typical-loan-terms-and-conditions)

## Impersonation scams
Impersonation scams happen when an impersonator copies elements of a person, brand or organization for fraudulent purposes. These persons pretend to be someone else in a bid to deceive the unaware party. Another werey dey disguise.

These scams go beyond someone calling and asking for your bank details. Some of these scammers go as far as creating fake social media accounts or fake websites that copy the names, images, logos, or other identifying information of a person, brand or organization for deceitful purposes.

This is why it’s advisable to only access an organization’s website through a Web browser and not any link sent from a suspicious email address, look out for verified ticks on social media handles of public figures, brands etc. Remember it’s highly unlikely for government parastatals, brands or public figures to send you a personal message regarding your finances.

Read more: [Why you should read loan terms and conditions](https://irorun.com/blog/8-reasons-why-you-should-read-loan-terms-and-conditions)

## Charity organization scam
This is another popular financial scam that you should watch out for. Charity fraud schemes seek donations for organizations that do little or no work — instead, the money goes to the scammer’s pocket. While these scams can happen at any time, they are especially prevalent after high-profile disasters or pandemics *coughs in COVID-19 relief fund*. Scammers often use tragedies to exploit individuals who want to help or seek help.

Scammers know how readily we open our hearts and wallets to those who served and those rebuilding their lives after tragedies and so they abuse this kindness. They’re especially active during the holidays, the biggest giving season of the year.

And that is why proper investigations should be carried out before giving out hard-earned money to any organization seeking funds.

Read more: [Reasons why taking out a loan is  no longer considered scary](https://irorun.com/blog/7-reasons-why-taking-out-a-loan-is-no-longer-considered-scary)

## Lottery and job offer scam
This particular financial scam has to be the oldest in the book. Who doesn’t dream of winning a lot of money or a big prize? That’s why scammers still use the promise of a prize to steal money or personal information from unsuspecting individuals.

Scammers also present themselves as individuals or businesses posing to offer well-paying jobs or fast-money schemes. Whatever forms it comes as is usually just an attempt to access your sensitive details.

Unexpected prize and lottery scams work by asking you to pay some sort of fee to claim your prize or winnings from a competition or lottery you never entered. Smells like 419!

We understand that times are indeed hard and a new well-paying job may be what you desire, but we ask that you carry out proper research on any company that reaches out to you with claims of a job offer.

Read more: [Where to get an urgent 50,000 naira loan](https://irorun.com/blog/Where-to-get-an-urgent-50,000-naira-loan)

…

As always, Irorun wants you well-informed on matters that concern your money.

For more questions or loan assistance send us a message at [support@irorun.com](mailto:suppport@irorun.com)!

4 Financial scams to watch out for


Sometimes all you really need is a small and quick fix to sort out that financial crisis…

And that’s where a MICROLOAN comes into play.

There are a lot of benefits associated with taking out a microloan and today we’ll be exploring 5 of these benefits:

## Easy application
If you think about it, you are more likely to give a friend 5k if they ask for it rather than give them 500k. True or true?

It’s the same with lenders; they’ll be more likely to approve a small loan than a larger one especially when it’s your first or second time borrowing from them. Small loans tend to be less of a hassle considering plenty of documentation and interviews are not required unlike with a larger loan. Larger loans require a lot of documentation, interviews and a higher level of loan worthiness and therefore are harder to apply for.

## Credit history/score building
One key benefit of a microloan is the ease of being able to pay back with little to no inconvenience.

Now picture this scenario; You take out a microloan that you are dead sure you will be able to pay back and keep this cycle for, say about 7 months. Your credit history is going to be very long and ATTRACTIVE to lenders, won’t it?

Why?

Because you have a LONG history of paying back your loan on time.

This is a great strategy for building your credit score and giving you a packed credit history (Remember, with a clean and extensive credit history you become eligible for LARGER loans). [Here are some other ways to boost your credit score](https://medium.com/@Theirorunapp/how-to-boost-your-credit-score-e723bd2ce497).

## No collateral required
A commonly spread myth about loans is the assumption tHat eVerY lOan rEquiRes cOllaTerAl. This isn’t true, some loans, especially micro-loans require no collateral.

No one is going to take away your car if you take out a 20k loan. Collateral is mostly required for large loans and has to be of equal or greater value than the loan amount. Microloans can easily be paid back, so collateral tends to not be a requirement. This means that you can easily get that loan to build up your credit score without the feeling of impending doom hovering above you.

## Predictable repayment schedule
Microloans, because of their size, tend to have a standard repayment method. This is because most microloans are installments and have a fixed schedule attached to them. Repayment dates are usually seven days after taking the loan.

If you time it right, you will always be able to repay your loan on time, this means that you can predict the repayment date, take out loans accordingly and have control of your finances. Win-win.

## Fixed interest rate
Microloans tend to have a fixed interest rate, there will be no changes to the interest rate even in the case of inflation, so when you take out the loan you can calculate how much your interest will be before the due date. This combined with a predictable repayment schedule can make your loan journey very enjoyable. No surprises there abi?

With much larger loans, the interest rate is dependent on the type and terms of the loan, a fixed-interest loan will keep the interest predictable but a variable loan would be unpredictable as it could rise/fall with inflation/deflation.

…

Remember that [Irorun](https://irorun.com/) offers microloans as small as N5,000 and as large as N50,000.

Send us a message to get started at support@irorun.com!

5 Benefits of a microloan AKA small loan

What have you heard about credit reports?

If you’d like to know more…then you’re welcome

First, let’s see what it means…

A credit report is a thorough examination of your credit history prepared by a credit bureau. Credit bureaus gather financial information about you and use it to generate credit reports, which lenders use along with other details to determine your creditworthiness.

In the same sense, you could simply say a credit report is a summary of your past and current credit information. Your credit report may be regarded as a dependable friend or a looming shadow it all depends on the status of your credit accounts at the time and the history of your bill and loan payments. This means that a dirty financial past may turn the ever-dependable credit report into a dark shadow hanging over you.

The process of applying for a loan may seem overwhelming if your financial past has been bumpy. You can prepare for what to expect by knowing what information is on your credit report and how it affects your credit score.

What information appears on your credit report?
Let’s take a look at what’s inside the credit report.

Credit reports contain a wide range of financial information peculiar to you. The following information is frequently found on a credit report, regardless of the credit bureau.

## Personal information
Identifying information, such as your entire name (and any alternative names you may have used in past credit applications, such as surnames before marriage, and your name without your middle name.)

It also contains information such as your birth date, current and previous residences linked to your credit accounts, phone numbers linked to your credit accounts, current and previous employers you’ve listed on credit applications, and more.

This information helps in the confirmation of your identity and to prevent fraudulent acts from being carried out with your identity.

## Accounts
The credit report contains information about your current and historical credit accounts from the last seven(7) to ten(10) years, including installment accounts (loans), the name of the creditor/lender, the opening date and/or closure, the status (such as current or past due), the credit limit (for credit cards) or loan amount, your payment history, and so on.

## Inquiries
Additionally, your credit report contains details about the organizations — loan companies included — that have viewed your report as well as the dates and times of those accesses.

## Information that does not appear on your credit report
Credit reports contain a lot of information, but they also exclude some personal and financial details. Here are a few details you won’t ever find on your credit report:

## Marital status
An individual’s past or present marital status has no place in their credit report. Apart from it being deeply personal and intrusive, it’s not a suitable measure of an individual’s financial status (good or bad) and therefore, has no effect whatsoever on one’s credit score.

## Income
One’s income from their place of employment is also not included in a credit report. Although some lenders require such information before making a loan application decision.

## Bank account details
The credit report also doesn’t contain an individual’s bank account details. However, certain details, such as your bank account statement are considered by a lender when reviewing a loan application. This confirms one’s cash inflow and outflow and helps the lender determine if the client can afford the loan.

## Education
The educational level or history (past or present) is not included in a credit report. So don’t worry if you crashed out of the university, it has no bearing on your creditworthiness. What must be noted is the individual’s age, as any loan application is only legal for persons aged 18 and above.

…

As always, Irorun brings the most useful information to you and is further available to answer your questions and offer assistance in securing your first loan, send us a message at support@irorun.com!

What is a credit report and what can be found on it

It’s funny how life can change in the blink of an eye. One minute, everything’s fine, and the next, you’re scrambling to cover an unexpected expense. On a regular Thursday afternoon Ade received a call that his younger brother had been involved in a minor accident. Thankfully, nothing too serious. But, as you’d expect, the hospital needed payment for scans and medications. He had just sent money home for some family needs the day before, and payday was still five days away, and he couldn’t afford to wait. 

Stories like Ade’s are all too common. In moments like these, knowing where to get an urgent 10,000 naira for just seven days can make all the difference. Whether it’s a a medical emergency, or a sudden transportation cost, having immediate access to a small loan can save the day.

## How 10,000 naira can save the day
10,000 naira might seem like a small amount in the grand scheme of things, but in urgent situations, it can mean the difference between panic and peace. We often overlook how much a little extra cash can help when life throws unexpected challenges our way. 
Here are a few ways that 10,000 naira can help solve problems before they grow into bigger issues:
- Medical needs
You never know when you might need urgent funds for medical reasons. Maybe it’s not a life-threatening emergency, but hospitals don’t care about that when they ask for a deposit or payment. 10,000 naira can help you buy medications, cover consultation fees, or pay for basic medical tests when the unexpected happens.
- Home repairs
Imagine this: you walk into your kitchen, and the tap has suddenly decided to flood the entire floor. Or your gas cylinder runs out in the middle of preparing dinner, and there’s no backup. These situations are common in Nigerian homes, and while they’re not life-or-death emergencies, they demand quick solutions. A small loan of 10,000 naira can give you the funds to fix these minor but annoying inconveniences.
- Travel and transport
Sometimes, you have an unexpected trip you can’t avoid. Maybe it’s to visit a relative who suddenly fell ill, or perhaps your car breaks down, and you need to get it fixed. Either way, transportation costs pile up, and you can’t afford to be stranded. 10,000 naira can cover the cost of a repair or buy enough fuel to get you where you need to be.
- School-related expenses
If you have children in school, you know how random expenses can pop up — whether it’s money for textbooks, uniforms, or a field trip. It might not seem like a big deal, but if your child’s education is at risk, even 10,000 naira can make a huge difference in keeping things running smoothly.

These scenarios are everyday occurrences, but they can create unnecessary stress if you don’t have enough money on hand. A 10,000 naira loan, even for just a week, can be the buffer you need to handle these surprises smoothly.

## Where to get an urgent 10,000 naira loan
If you ever find yourself needing an urgent loan, [Irorun is a great option to consider](https://irorun.com/). Irorun, meaning "peace of mind" in Yoruba, offers loans ranging from 1,000 to 50,000 naira with a simple, user-friendly process designed for emergencies.
Whether you’re employed, self-employed, or in-between jobs, Irorun makes borrowing money easy and accessible. All you need is your [BVN](https://irorun.com/blog/why-do-lenders-need-bvn-is-it-necessary-to-get-a-loan), [a valid ID](https://irorun.com/blog/what-you-should-know-about-uploading-id-on-irorun), and some basic details to apply. The best part? The approval process is incredibly fast, and once your application is approved, the money is sent to your account in minutes. With an interest rate of 10% to 15%, Irorun offers flexible repayment terms, allowing you to borrow for 7 days or even up to 30 days, depending on your needs.

## Why choose Irorun?
There are plenty of loan platforms available today, but Irorun stands out for several reasons:
- No collateral or paperwork: Forget about running around trying to gather paperwork or find collateral. With Irorun, the process is straightforward. No lengthy forms or credit checks are required.
- Fast approvals: When you’re dealing with an emergency, time is everything. Irorun’s quick approval process means you won’t have to wait for days to get your money.
- Transparent fees: You’ll know exactly what you’re paying for with Irorun’s flat 15% interest rate and a small processing fee, so there are no hidden surprises.
- Convenient access: Whether you’re using their mobile app or the website, Irorun’s platform is available 24/7, making it easy to apply for a loan anytime, anywhere.
- Flexible repayment: With up to 30 days to repay the loan, you can choose a repayment plan that works for your schedule without feeling pressured to pay back the money too quickly.
- No harassment: While it’s common for [loan sharks](https://irorun.com/blog/how-to-deal-with-loan-sharks) masquerading as lenders to use extreme and unethical measures to recover loan, Irorun does not harass its customers whether they’ve defaulted or not.

## When you need 10,000 naira, Irorun is here
Life is unpredictable, but you don’t have to feel stuck when you run into a sudden financial bump in the road. Whether it’s covering an urgent medical need, home repairs, or school-related expenses, having [access to a quick 10,000 naira loan from Irorun](https://lendsqr.com/lenders/irorun) can be the difference between chaos and calm.
The next time you find yourself in a tight spot, remember that [Irorun](https://irorun.com/) is just a few clicks away, ready to offer the financial support you need to get through the week. When unexpected expenses arise, Irorun provides a reliable, simple solution that puts peace of mind within reach. [Apply for 10,000 for 7 days now](https://irorun.com/loans/10000-naira-7-days).


Where to get urgent 10,000 naira for 7 days

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Irorun Blog

4 Financial scams to watch out for

5 Benefits of a microloan AKA small loan

What is a credit report and what can be found on it

Where to get urgent 10,000 naira for 7 days

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