NeoCash

NeoCash is a Nigerian digital lending app from Shepherd Trust Microfinance Bank that provides unsecured loans to salary earners and business owners in Lagos State, plus a buy-now-pay-later option for merchants.

Key capabilities include:

• Personal and business loans from ₦200,000 to ₦25,000,000, with an application that takes about 5 minutes and disbursement after approval.
• Transparent loan terms with 61 days to 1 year tenors, no late fees, and no upfront charges.
• Risk-based pricing with advertised interest rates of 2.5% to 5% per month, based on assessment.
• Minimal documentation and verification that typically uses a bank statement, plus proof of employment/salary for salary earners or evidence a business is running for traders and microbusinesses.
• Merchant BNPL (“Pay Small Small”) that lets customers pay in instalments while merchants receive 100% upfront, settled to a bank account within 24 hours (website indicates a 4.5% merchant fee).

Available on Android and iOS, with a web presence for product information.

Target users include Lagos-based salary earners, self-employed traders and microbusiness owners, and merchants that want an instalment-payments option at checkout.

It is notable in Nigeria’s lending market as a regulated product of a Central Bank of Nigeria licensed microfinance bank (Shepherd Trust MFB), with lending explicitly limited to Lagos State residents.