How Do Online Loan Apps Actually Profit?

I’ve been wondering how these quick-loan platforms generate revenue. This morning I saw videos on TikTok where people say they’ve owed these apps for years, some up to ₦500,000 or more. In my case, I owe five different apps a total of ₦850,000. Despite charging high interest and fees, these companies keep recruiting new borrowers. How exactly do they make money?

Use The App To Win ₦1m

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