Why Does Everyone Seem To Hate This Loan App?

Quick loans and lending agencies are part of us now, they seem to save the day when there is need for urgent cash - for many reasons, most of us require a bailout sometimes or regularly. Banks or bigger financial institutes are not a good fit. They don't have the products or packages that cater for such needs, and even if they claim they do, you'll have to fill an endless pile of paperwork to get approved, you might even need Jesus to stand in as guarantor before they could grant you a loan.

And this process could go on for days or weeks, sometimes even up to a month.

Loan apps, micro lenders came in and leveraged on fintech solutions to offer almost painless loan solutions, more importantly, the focus was on quick and easy lending options. With just a few taps on your mobile phone, guarantor-less, paperless loan options. 

Although the offer may be quite small, but it sure meets a lot of quick needs that need sorting. Such as, medical bills, urgent 2k needs, transportation fare, grocery shopping fees and other expenses that we make on a daily, or one that just crop up from nowhere.

There is no denying, many loan apps have been meeting these need, although you may have to sometimes sell your soul or put your social or public reputation on the line in exchange for that. All the same, some people are finding it helpful.

Maybe you've used a loan app at some point in time or you're yet to, probably due to many reasons. However, I'm sure your experience might have shaped your mind-set about how good or bad they are.

There is this particular loan agency that operates multiple brand names and they seem to get a lot of backslash due to their method of loan recovery from users - In fact, the Nigerian federal government and financial management bodies have recently slammed a ban on their services.

They are Sokoloan however, we're not writing about Sokoloan in this review.

Let's look at "Irorun" does the name ring a bell? Does Irorun live up to the meaning of its names translation? 

Sorry mate, we did a dig and there's nothing easy about this lending app, at least not as the name implies.

Irorun is a yoruba dialect, it's a word that can be translated as EASE or comfort, or stress-free.

But from what we've gathered - No one seem to see it that way, or to put it straight. Nobody seem to be having it easy with the loan app that promises ease.

Not to easily agree with what the negative reviews were all saying on appstore/playstore - we did our dig, and your guess was same as ours! The loan app doesn't ease you of your financial pain. You may never get a loan from them. 

Irorun doesn't go by what it's name literally means, try it and after filling your information (we're even more concerned about your privacy and sensitive information) and there are higher chances that you'll get declined even if you are credit worthy.

We are even more concerned about what they might do with all your sensitive information that you fill into their system. What's the fate of your data such as phone number, address, BVN, and your contacts that they now have access to?

Worst of it all, they don't seem to respond to their emails.

Our Advice: If you can, try to stay away from these loan apps. Most of them mine your sensitive data, such as BVN details, phone number, email address and other private information about you.

The operators are either hackers themselves or they're selling your information to these hackers. If they aren't doing the first two! It is either their security is not up to standards and can be vulnerable to cyber attacks, hence the leak of your sensitive banking information.

While there may be some trustworthy loan apps, we do not recommend nor endorse any, it's all for your safety.