Hello my fellow community members. This is more like an introduction post because this would be my first post on Hive. I had no idea that all Steemit members were automatically migrated to Hive. And since I had thought I lost my Steemit posting keys, I tried signing up on Hive platform but was declined multiple times.
Fortunately, I was able to get back my Steemit posting keys. Then I stumbled on a post that one could sign in with the Steemit posting keys. So, here I am.
This post I would like to share was originally posted on mirror.xyz(a web publishing platform) as my first entry on the platform. I am going to replicate the post. Hopefully, you might want to check out my entry on that platform. Happy reading!
My name is Mary. I am a content creator, crypto minnow and NFT creator fixated on the idea of creating a mobile loan app to address the irregularities of the existing loan apps on the Google play store in my country.
How This Mobile Loan Business Idea Came About
A couple of weeks ago, I had just woken up when I received a message on my Whatsapp. It was from an unregistered number and I grudgingly opened it. I was taken aback when I read the content of the message.
The message had a picture of an acquaintance and it stated: "The person whose picture appears here ran away from an HIV facility. If seen, please try to avoid her by all means.”
I was trying to process the information and didn’t understand a thing. Then I looked again and observed that the message was signed by a company.
I looked up the company online and realized that they were mobile app loan providers.
I Decided to do A Little Research
I quickly called this acquaintance of mine to inquire what the problem was and she opened up that she defaulted on the loan she took from those loan providers; hence the reason for that message.
I was dumbfounded and was trying to relate how a loan defaulter has suddenly become an HIV patient who escaped an HIV facility.
I did a quick research online and I was bombarded with tales of woes of how this mobile loan company and other loan sharks treat their defaulters like criminals and with disdain.
What the Clients Were Saying
A lady complained that one of those loan sharks company once sent her obituary announcement to the contacts on her phone announcing her death. The annoying part was that she didn't even default on the loan as she had one more day to go.
Another guy complained that one of those loan apps company once sent a message to his boss accusing him of eloping with the company's money. Unfortunately, this didn't end well as he was sacked by his boss.
Welcome to my Country Where Laws are not Enforced
These are some of the outrageous stories that surround the mobile app lending business in my country, Nigeria. More than 90% of these loan companies are unregulated.
They don't have a physical address or a valid correspondence that you can contact. They operate in a very shady manner and always result in blackmail and intimidation to recover their funds.
The Loan Apps Have bad Reviews
Recently, I decided to surf through the reviews of some of the loan sharks on the Google Play Store. I realized that there are over a hundred of these apps with the same modus operandi.
Some of their clients even complained that after repaying their loans, they will continue to deduct from their linked ATM cards.
Then, there is the outrageous interest rate they charge. You are expected to pay back about 50% interest in one week.
I see this as very inconsiderate and exploitative. Most of their clients patronize them because there are no options and they don’t have a choice.
I Tested one of the Loan Apps
On a hot day, I decided to try out one of these loan apps. I downloaded the application and input my details. I then received the notification that I had been approved for a loan for a specific amount.
I was told that before they could disburse the funds, I needed to link my ATM card to the platform.
I did as instructed and as soon as I was charged an outrageous amount for linking my card, I received a message that they changed their mind and I wasn’t qualified for a loan at this time.
Blood of Jesus! I felt like invading the app and dragging whoever was on the server ends to heaven so that judgment could be passed on them immediately.
I was furious and wondered how a supposedly registered company could act like a common thief on a hot afternoon. Although I intended to test-run their services, I felt used and humiliated.
Then I had a Great Fintech Business Idea
After that episode, I started thinking about how to stop these loan sharks and put an end to their shenanigans.
Should I start a blog that will review some of their bad practices or should I just watch them continue with these sharp practices?
Then the idea hit me hard: ‘Start a mobile app lending service and correct the anomalies and irregularities of the existing loan apps’.
What a brilliant idea! At this point, I am more than positive that my loan app will strive because customer satisfaction which the majority of those loan apps lack will be our focal point.
How I Will Penetrate the Market
In terms of marketing, I will use the negatives of those loan apps and turn them into my selling focal point. No one wants to have her phone contacts bombarded with embarrassing messages about their debts.
I have already picked a name for my intended mobile loan app. The name would be called 'Nairaspot'. It has already been registered. What I need now is funding to start developing the mobile app and also commence other papers works.
And this is where you, my fantastic readers and NFTs collectors on the ethereum and optimim blockchain can come in handy. If you collect this entry, then you will make it possible for me to be able to realize my goals.
The Lending Business is Capital Intensive
You may be wondering how I intend to fund the bigger part of this project since the lending business is capital-intensive.
Here is what I have mapped out: I feel the most important thing is to create the app first. Afterwards, I can call for investors.
Any potential investor would be interested in projects that show seriousness and with the mobile app in place, we can get the ball rolling.
There is also the issue of how to tackle loan defaulters. I plan to use sentiments and not intimidation to recover funds from defaulters.
This is because using sentiments would appeal more to their conscience. This has been tested and I speak from experience.
About Me
I am from Nigeria. I am one of the most eccentric, ambitious and down-to-earth humans that live on planet earth. If in doubt, you can run a Google search on me. I rank on their first page. Oh yes! That’s how popular I am in my head.
A Brief Story
Last year, I saved up for my postgraduate degree and got admission into a postgraduate school in a foreign country. My choice for a foreign country was because I wanted to explore and have a feel of the International mode of learning.
Unfortunately, the embassy staff denied me Visa because according to him, I might decide to elope and never come back to my country.
Seriously? Where the heck did he get that from? Did the devil confide in him or did he Google it? If you ever see that embassy staff, please pass a message across to him.
Tell him that for his information, I have the most amazing family and would never do as much as abandon them for anything in the world.
How I Became a Crypto Minnow
Anyways, after that disapointment, I decided to start a physical buy and sale business so I could make some turnover in profit.
Unfortunately, the warehouse where I kept my goods burned down and I lost everything except for the 2000$ in bitcoin which was stashed in my blockchain wallet.
Instead of me to hold unto that funds as a lizard would hold onto a wall, I started thinking of how to become a Millionaire by trading in crypto.
Then I decided to foolishly follow the devil's advice when he convinced me to start the riskiest type of crypto trading; leverage trading.
Unfortunately, I lost all of my funds in a jiffy and I was back to square zero.
While I was left to lick my wounds alone, the devil relocated to hell and organized a victory party to celebrate my failure. It was a very dark moment for me and I am still trying to recover from my losses.
I am still waiting for the devil to come and convince me again to do another risky investment. This time, I will make sure to sue him so that he may be forced to make peace with God and relocate to heaven.
What I do for a Living
I am a content creator and online freelancer. Unfortunately, I have encountered more scammers than genuine employers.
A fake employer I met on Discord dashed my hopes when he told me he would pay me a salary of 3000$ daily. According to him, he was very rich and could afford it.
I guess the man thought he was interacting with a desperate novice. I blocked him without thinking and wished I had never chatted with him. I won't be surprised if the person in question was a 13-year-old mummy's boy trying to use me to entertain himself.
I am Also Using This Medium to Advertise my Skills
Talk about catching two birds with one trap, ( I like to use my own words) I would also like to use this medium to state that you can hire me to be your online virtual assistant.
I can do almost every doable task. I can create content, edit, proofread, convert data into different forms, send emails, etc. I am very creative and I can be of immense value to you. I can even act as your virtual and online bodyguard.
My NFT Journey
Recently, I delved into creating NFTS. As a matter of urgency, I recently dedicated an NFT to my godson who has been battling sickle cell disease.
I am trying to market the NFT dedicated to him. If there is a sale, then the proceeds would be channelled towards his treatment.
More About me
I am a very private person and more of an introvert. This is why any support I get from this great community would be cherished becuase I may not get it elsewhere.
So, I am calling on oll the crypto minnows, ethereum whales, NFT collectors, and all members of the crypto communities to arise and support this entry. A push for me, is a push for all!
I have a Twitter and Discord Social Media Accounts
If you have any questions you may need to ask, you can contact me on discord or Twitter with the usernames ‘Mayib’ and ‘Marasongs30’ respectively. I am open to any questions you may be curious to know.
See you Next Time
I wish I could go on and on but it's time to take a break. For me, it is not a permanent farewell but a ‘see you next time’. I hope you all have a great day and I wish to thank you all for listening to this crypto minnow, NFT creator and online freelancer. Ciao