CashBus loan requirements shows that you apply for a loan with CashBus, you don’t have to offer any valuable assets, like a car or property, as security.
Introduction
CashBus is a loan app in Nigeria that offers quick loans. The app is meant to help people get money fast without needing to provide any collateral. However, it has received many negative reviews from users.
One customer shared a bad experience with CashBus. They borrowed money from HICASH, a part of CashBus, to pay workers on their site.
The total amount they needed to repay was ₦30,000, due on July 22, 2022. The day before the due date, on July 21, 2022, the customer was called by a representative from CashBus. The customer explained that they would have the money to repay the loan by the end of the due date because they were waiting for a payment from a client.
Despite this, the representative was very demanding, insisting on payment by 10 AM the next morning and threatening to embarrass the customer if they did not pay on time.
This incident highlights some issues with them. Users have reported that the app’s customer service can be harsh and unhelpful.
Additionally, it has been removed from the list of approved lenders by the Central Bank of Nigeria (CBN) and the government. This suggests that there may be concerns about the app’s reliability and trustworthiness.
they offers unsecured loans, which means you don’t need to put up any assets as security. Instead, loans are based on your credit history and your ability to repay. You can borrow up to ₦500,000, depending on what you need. The repayment period is flexible, ranging from 91 to 180 days.
In summary, while CashBus can provide quick loans without collateral, it has faced criticism for its customer service and aggressive collection practices.
The fact that it has been delisted by the CBN adds to concerns about its reliability. Users should be cautious and consider these factors before using the app.
History and overview
CashBus is a loan app that started in 2023. The CEO of the company is Yang Tang, and it is said to be a Chinese company.
Many people think it is a very bad loan app because of the way it treats customers. Users have complained that CashBus threatens them when they don’t repay their loans on time.
The app was once available on app stores but has now been removed. People can only download it through APK files from other websites. This makes it harder to access and has caused people to worry about whether the app is trustworthy.
One serious case involves a woman named Queeneth Ajibade (not her real name). She borrowed money from two loan apps owned by CashBus—Hicash and 9cash.
She was supposed to repay ₦50,000 to Hicash and ₦32,500 to 9cash but missed the deadline. The day after her payment was due, they falsely accused her of doing something terrible, claiming she had slept with a dog. This was an extreme and cruel way to try to embarrass her into paying back the loan.
Overall, even though them offers fast loans, it has a very bad reputation. The app is no longer available on app stores, and many customers have had terrible experiences.
The way the company threatens people and uses extreme measures to get payments makes it a risky and dangerous choice for anyone needing a loan.
Requirements
Good record history
A good record history means that before applying for a loan with CashBus, you should have a positive borrowing and repayment history.
This includes paying back previous loans on time without any issues. Loan companies like CashBus look at your past financial behavior to see if you are likely to repay their loan without problems.
If you have a good record of paying back loans and managing credit well, you are more likely to be approved for another loan
No collateral
No collateral needed means that when you apply for a loan with CashBus, you don’t have to offer any valuable assets, like a car or property, as security.
Usually, with some loans, if you can’t pay back the money, the lender can take your collateral. But with CashBus, the loan is unsecured, so they rely on your credit history and ability to repay, not on taking any of your belongings if you fail to pay. This makes the loan easier to get, but the lender may charge higher interest because it’s riskier for them.
Legal issued documents
Legal issued documents refer to official identification papers provided by the government, such as a National ID card, driver’s license, or passport.
When applying for a loan with CashBus, you need to provide these documents to verify your identity. This helps the company confirm that you are who you say you are and ensures that they are lending money to the right person.