What if your investments could do more than just grow over time?
At GetEquity, we’ve partnered with Carrot Credit to make that possible. Now, you can request credit directly from your GetEquity app – using your existing investments as collateral. No need to sell your investment. No need for long paperwork. Just smart, fast, and secure access to credit when you need it.
Here’s everything you need to know about how the feature works and how to get started.
What Is the GetEquity Credit Feature?
The new Credit feature allows you to access credit by using your investments (Fixed income investments e.g. commercial papers, treasury bills, etc. on GetEquity as collateral. It’s designed for investors who want liquidity without liquidating assets; whether you’re covering a personal emergency, bridging cash flow gaps, or funding new opportunities.
With this feature, your investments remain intact while they serve as a guarantee for the loan. Once approved, funds are disbursed within 24 hours.
This feature is in partnership with Carrot Credit, a digital lending partner that provides flexible loan options backed by real assets.
How It Works: A Step-by-Step Guide
Here’s how to request credit on the GetEquity app:
1. Open Your GetEquity App
Ensure you’re using the latest version.
2. Navigate to the “More” Section
From your dashboard, tap “More” to access extended features.
3. Select “Credit”
Tap on the Credit option to start your loan request.
4. Click “Request Credit”
This initiates the credit process.
5. Provide Loan Details
- Select your loan duration.
- Choose a loan reason from the options provided.
6. Set Loan Amount
- Select investments (Fixed income investments e.g. commercial papers, debt notes etc) you want to use as collateral.
- Choose one or more commercial papers.
- Enter the number of investment tokens you want
- You can only use naira investments you own.
7. Select a Loan Provider
Select Carrot credit as the available loan provider listed.
8. Review Your Loan Summary
Carefully go through the summary, including interest rate, duration, and repayment terms.
9. Add Full Name
Enter your full name. Please review the User Agreement and Privacy Policy before proceeding. Kindly provide your full name as registered on your GetEquity profile.
10. Select Account for Withdrawal
Add a new bank or select from the existing list of beneficiaries.
11. Submit Your Request
Once submitted, your application is reviewed. If you meet the criteria, funds are credited within 24 hours.
What You Should Know
- Collateral Limit: You can use investments you currently own as collateral. These can be from one or multiple companies. You can access up to 80% of the value of these investments in credit.
- Interest rates: 4% monthly on the outstanding amount.
- Repayments: your interest is calculated daily at a 4% per month. You can choose to repay at anytime before the end of the tenor and only pay back the accrued interest
- Penalty for Late Repayment: If you have defaulted on your repayment your assets are automatically liquidated and your credit line is paid off
Why Use This Feature?
- Preserve Your Portfolio: Stay invested while gaining access to liquidity.
- Quick Disbursement: Funds are credited within 24 hours..
- No Paperwork: Fast, secure, and easy to use.
Frequently Asked Questions (FAQs)
1. Can I use more than one type of investment as collateral?
No, you can only leverage on your naira fixed income investments like commercial papers, treasury bills etc.
2. How much can I borrow?
With Carrot credit, you can leverage up to 80% of the value of the investment you select as collateral.
3. How long does it take to receive the loan?
Your loan will be credited within 24 hours.
4. What happens if I don’t repay on time?
If you have defaulted on your repayment your assets are automatically liquidated and your credit line is paid off
5. Is this feature available to all GetEquity users?
Yes, as long as you have Naira Fixed Income investments e.g. commercial papers, treasury bills etc. on the platform.
Ready to Get Started?
Open your GetEquity app, head to the Credit section, and see what your portfolio can unlock.
Smart credit access, powered by Carrot Credit.