A new digital-first financial institution, Andray Finance Limited, is stepping into Nigeria’s lending space with a promise to transform access to credit. The Lagos-based company announced it is offering up to ₦3 million in agricultural financing, alongside funding for small and medium enterprises (SMEs), asset financing, and vocational loans, targeting individuals and businesses often left out of traditional banking systems.
Founded in 2024 and headquartered in Victoria Island, Oniru, Andray Finance says its mission is to democratize financial access across Nigeria. From market women in Mushin to tech startups in Yaba, the company’s tailored loan products are designed to meet diverse needs. “We believe everyone deserves financial support that aligns with their aspirations. Our goal is to be a catalyst for economic empowerment,” explained senior management staff member, Okoye Samantha.
The fintech’s services are entirely digital, allowing users to apply for loans, track approval status, and manage repayments via smartphone. This mobile-first approach has proven especially effective in reaching rural farmers and informal traders, groups that often struggle to access formal credit. The institution also offers PayDay Loans, Salary Advances, and Educational Loans with interest rates starting as low as one percent.
Unlike many lenders that burden clients with hidden charges, Andray Finance emphasizes clear loan terms and flexible repayment plans designed to reflect the financial reality of borrowers. “We are not just offering loans, we are offering dignity,” said founder and chairman Bayowa Fredrick Borokini, stressing that transparency and trust are the backbone of the company’s operations.
Since its launch, Andray Finance has already disbursed thousands of loans nationwide, with a growing footprint in underserved regions. Its agricultural loan program, in particular, has begun boosting food production and supporting smallholder farmers, making the company a rising player in Nigeria’s effort to strengthen financial inclusion and economic growth.
Source: Leadership