You can apply if you:

• Are 18 years or older
• Have a child enrolled in a Cowri partner school
• Have a valid government ID
• Have a bank account with at least 12 months of transaction history
• Can add a co-signer who also meets these requirements

The entire process takes about 15-20 minutes:

• 10 minutes to complete the application
• Link your bank account (2 minutes)
• Add your co-signer (3 minutes)
• Upload documents (5 minutes)

You need:

• Valid government-issued ID (National ID, Driver's License, International Passport, or Voter's Card)
• Bank account for linking via open banking
• Employment letter (if applicable)
• 12 months bank statement
• Your co-signer's documents (same as above)

We use secure open banking technology to verify your income and assess your financial capacity. This helps us:

• Give you instant credit decisions (no waiting for manual document review)
• Offer you the right credit limit based on what you can actually afford
• Protect you from taking on debt you can't repay

Your credit score is a number that shows how likely you are to repay the loan. We calculate it based on:

• Your income versus your expenses
• How stable your income is
• Your spending habits

Applications are declined for several reasons:

• Your debt-to-income ratio is too high
• Your income is too irregular to support monthly payments
• The amount you requested exceeds what you can afford
• We detected undeclared loans or income misrepresentation

"Review" means your application needs a human to look at it before we make a decision. This usually happens because:

• Your stated income doesn't perfectly match what we see in your bank account (could be timing or you have multiple accounts)
• Your score is borderline and we want to assess manually

Your credit limit depends on:

• Your monthly income
• Your regular expenses
• How many children you're supporting
• How many working adults contribute to your household
• The repayment period you choose (2, 3, or 4 months)

No, you cannot borrow more than your approved credit limit. The limit is calculated based on what you can comfortably afford to repay without financial stress.

If your school fees are higher than your limit, you have options:

• Pay the difference yourself upfront
• Add a co-signer with their own income (this can increase your joint credit limit)

Yes! When your co-signer shares repayment responsibility (not just acting as guarantor), your credit limits combine to create a higher joint limit. This is especially helpful if:

• Your co-signer has their own income
• They have lower existing debts than you
• Together you have more working adults relative to dependents

Your first payment is due one month after disbursement. For example:

• Loan disbursed: January 15
• First payment due: February 15
• Second payment due: March 15
• And so on...

• 7 days before due date
• 3 days before due date
• On the due date
• If you miss the due date

If you pay late, you'll earn fewer points on your Cowri Credit Rating, which affects:

• Your ability to get top-ups during your current loan
• Your eligibility for future loans
• Your credit limit for future borrowing

Yes! You can pay off your entire remaining balance anytime. Benefits:

• You earn bonus points for all remaining months
• You build a positive credit rating strengthening your future eligibility

Yes! You can pay:

• Extra toward your principal (reduces future payments)
• Your next month's payment early
• Your entire remaining balance

A top-up lets you borrow more money while you're still repaying your current loan. This is helpful when:

• Your child needs extra fees (exam fees, excursion, new uniforms)
• You have another child's school fees to pay
• Unexpected education expenses come up

To qualify for a top-up, you must:

1. Complete Minimum Months:

• 4-month loan: Must complete 2 months of payments
• 3-month loan: Must complete 2 months of payments
• 2-month loan: Must complete 1 month of payment

• You must have earned 90% of the maximum possible points by the time you apply
• Example: If you could have earned 4 points by Month 2, you need at least 3.6 points

Plan A (Faster but Higher Payments):

• Adds the new amount to your remaining months
• Your monthly payment goes UP
• You finish on your original end date
• Less total interest
• Example: Currently paying ₦100k/month for 2 more months. Top-up of ₦100k increases payment to ₦152k/month for remaining 2 months.

• Starts a fresh 4-month repayment plan
• Your monthly payment often goes DOWN
• Takes longer to finish (always 4 months from now)
• More total interest
• Example: Same situation, but monthly payment becomes ₦77k for new 4 months.

We'll recommend the best plan for your situation, but the final decision rests with our credit team. Our recommendation considers:

• Whether you originally chose a 4-month loan (signals you need lower payments)
• How large the top-up is compared to your original loan
• Whether your child is in a final year (SS3, JSS3 or Primary 6)
• Your demonstrated ability to handle higher payments

You can request multiple top-ups as long as you keep qualifying:

• Meet the minimum months requirement each time
• Maintain 90% credit rating performance
• Stay within your total credit limit

All Cowri Credit applications require a co-signer because:

• It reduces our risk, which lets us offer better rates
• It gives us someone to contact if you're having trouble paying
• It can increase your credit limit if your co-signer has their own income
• It shows you have family/friend support for your child's education

Your co-signer can be:

• Your spouse or partner
• A family member (parent, sibling, adult child)
• A close friend
• Anyone who trusts you and is willing to support your child's education

• Be 18 years or older
• Have their own bank account with at least 12 months history
• Meet the same basic requirements as you
• Link their bank account for verification

Payment Sharing (e.g., 60:40, 70:30, 50:50):

• Both you and co-signer make monthly payments
• Each person pays their agreed percentage
• Your joint credit limit is usually higher

• If you chose a sharing ratio of 100:0, it means you pay 100% of the monthly installments
• Co-signer automatically acts as a guarantor but makes no payment
• Co-signer only pays if you completely default
• Your individual credit limit applies (not joint)

No, you cannot change your co-signer after your loan is approved and disbursed. The co-signer is legally bound to the loan agreement.

If you need to change before approval (application still in review), contact our support team immediately.

Yes, if you're sharing payments. We assess both of you together:

• If your co-signer has good credit, it can help your application
• If your co-signer has poor credit, it can hurt your application
• Your combined scores and incomes determine your joint credit limit

Your Cowri Credit Rating (CCR) is like a report card for how you repay your loan. You can earn up to 8 points total by:

• Paying on time (full points)
• Paying the full amount each month (full points)
• Paying late (reduced points)
• Paying partial amounts (reduced points)

• Whether you can get top-ups during your current loan
• Whether you qualify for new loans in the future
• What credit limit you get for future loans

Perfect Score:

• Paid everything on time, every month
• Guaranteed approval for future loans
• Reduced Interest rate in future loans

• Significant payment problems
• Unlikely to qualify for new loans
• Requires major improvement

• Major defaults and missed payments
• Will not qualify for new loans for at least 6 months

Yes! Your CCR is cumulative, so you can recover from a bad month:

• If you had one late payment but pay on time for remaining months, you can still get good points
• Early repayment gives you bonus points for remaining months

Your credit ratings are tracked as one (so payment behaviours from both parties affect the single CCR).

If Guarantor Only (100:0), your CCR is based on your payments only.

You pay:

One-Time Fees:

• ₦2,000 application fee (one-time, when you join, which includes the renewable membership card fee of ₦1,000)

• 2% of your total loan amount per month (called "subscription fee")
• Example: ₦150,000 loan = ₦3,000 per month subscription fee

• Check your specific loan agreement for late fee structure

Sort of, but we call it a "subscription fee" instead of interest. Here's how it works:

2% Monthly Subscription:

• You pay 2% of your loan amount every month
• Example: ₦100,000 loan = ₦2,000/month subscription

• 2-month loan: 4% total (2% × 2)
• 3-month loan: 6% total (2% × 3)
• 4-month loan: 8% total (2% × 4)

The 2% subscription fee is calculated on your original loan amount and stays the same each month. So even though you're paying down your principal, the subscription doesn't reduce.

This is different from some loans where interest decreases as you pay down the balance. Our structure is simpler and more predictable - you know exactly what you'll pay each month from day one.

Yes! In fact, we encourage it because:

• You earn bonus points on your CCR
• You can qualify for a new loan

If you're having trouble linking your bank account:

First, check:

• Your bank is supported (we work with most major Nigerian banks)
• You have internet banking enabled
• Your bank account is active (not dormant or frozen)
• You're using the correct login details

1. Try closing and reopening the app
2. Clear your app cache
3. Try a different network (switch from WiFi to mobile data or vice versa)
4. Contact your bank to confirm internet banking is active
5. Contact our support team if problem persists (support@sproutly.africa)

If your application is taking longer than expected:

Normal review time: Up to 48 hours for standard reviews, up to 5 business days for "Hard Review"

Your application might be in review because:

• We need to verify your income sources
• We need proof of employment for multiple working adults in your household
• We're waiting for additional documents you were asked to upload
• Your score is borderline and needs manual assessment

1. Check your email and app notifications - we may have requested documents
2. If you haven't heard from us in 3 days, contact support
3. Make sure all requested documents are uploaded

Disbursement goes directly to your school, contact them for confirmation.

Standard: Within 24 hours of approval

If it's been more than 48 hours: Contact our support team (support@sproutly.africa) with your loan reference number.

If your payment isn't reflecting:

First, check:

• How long ago did you make payment? (Can take up to 24 hours for manual bank transfers)
• Did you get payment confirmation on the app? (Instant if paid through app)
• Did you pay to the correct account number?
• Do you have proof of payment? (Screenshot or receipt)

1. Contact support with your proof of payment (support@sproutly.africa)
2. Provide: Date, time, amount, reference number
3. We'll investigate and update your account within 24 hours

Yes! We want to help. If you're facing financial hardship:

Contact us BEFORE you miss a payment:

• Call our support line (07074594512)
• Send email to support with your situation (support@sproutly.africa)
• Message through the app

• Set up a temporary payment plan
• Explain your grace month option
• Discuss restructuring your loan
• Connect you with financial counseling resources

• Forgive your debt (you still owe the money)
• Remove subscription fees
• Extend repayment beyond 4 months (system limitation)

• Silver: APS ≥ 85%
• Gold: 90% – 92.9%
• Platinum: 93% – 94.9% (Year 3 and above only)
• Diamond: ≥ 95% (Year 3 and above only)