Use this when users repay a loan outside the app, bypassing Lendsqr channels like USSD, Card, or Transfers.
This is also used when the user is successfully debited a certain amount for repaying a loan and this amount doesn’t reflect in the user’s wallet. The loan is to be repaid with the amount repaid and the schedule will update and show the outstanding balance or not if it is a total repayment.
To manually repay a loan, follow the steps highlighted below.
1. Firstly, locate a loan you want to manually repay. Click the three dots at the top right corner and then click on the “Trigger Manual Loan Repayment” button. A modal will be displayed to you.
2. Enter the repayment details i.e. amount repaid, channel (External), the External reference and the comments to specify what happened exactly. Click on “Repay Loan” to repay the loan or part of the loan.
3. Enter your 2FA key to authorize the repayment of loan, and the loan will be successfully repaid.
Also read: 7 strategies to avoid SME loan defaults as a Nigerian Lender