Sokoloan

Interest Rate	45%
Duration	7 - 14 days maximum
Access Level	Public
Company Name	Sokoloan Company
Phone 1
Phone 2
Website or Store	https://www.sokoloan.com/
Address	Fake: Venus business hub, Plot 8, Providence Street, Lekki Phase 1, Lagos
Category	Dangerous Loan
Company Email	support@sololoan.com
Views	10,099

Details
Related Apps

FAQ

Can I Pay Loan Apps Gradually Until I Finish Paying Them?

You’re only digging your financial grave by paying them gradually. Every payment goes toward overdue interest first, not your loan. It’s a waste. They use compound interest, so your balance keeps growing. The best thing is to stop paying completely.

Can I still pay them if they defame me?

Paying defamatory loan apps is pure stupidity. You're empowering criminals. Document their threats - showing your private data illegally could net you ₦7 Million Naira+. Don't reward their crimes!

Can loan apps post my pictures on social media?

Congratulations - you owe nothing! Stop payments immediately. Their social media reach is practically zero, so viral exposure isn't a real concern.

Can they auto-debit my account?

No, they can't auto-debit your account since they're not licensed. Just block your card and get a new one. If you notice any unauthorized debits, move your money to a bank account you never shared with loan apps.

Can they come to my house or office to arrest me?

They won't come to your home or office because they're illegal. They're actually more scared to make their location public. It's online from beginning to end.

Can this loan app defame me?

Yes, they will defame you. Those people are among the most notorious loan apps in Nigeria. They run over nine fake apps under different names. Just send a disclaimer to your contacts so everyone knows the truth.

Can this Loan App Hack my Account

Don't worry, they can't hack into your bank. The real risk is if you gave them your banking password. For peace of mind, use an account you never registered with them.

Can you categorize this Loan Apps as a good loan apps?

They are criminal loan apps stay away

Do I need to Generate Disclaimer for this Loan App

You only need a disclaimer if they have contact access. No contact/call log permission? They can only bully you with calls but can't touch your accounts. If you downloaded outside Play Store, send disclaimer!

Do you suggest I fight back against this loan app if they send abusive messages?

Yes, you should definitely stand up for yourself. When you stay quiet, they think they can get away with more. Learn your borrower rights; there are many rules that protect you and put you in a stronger position.

Do you think I should stop borrowing from this loan app

Absolutely stop borrowing. If the interest is higher than 7% per month, run the other way! It's a trap that's impossible to escape from. A single default can destroy your finances, so please be careful

Explain How Credit Bureau Works

From the menu, click "Resources => Check Credit Score for more Information about Credit Bureau and how it works

How a malicious loan app can compromise your details

Many are designed as digital pickpockets. They might look legit but are built to secretly copy your phone's data—contacts, messages, and banking info—the moment you install and grant them permissions.

How do I get rid of their daily messages and calls?

Get Truecaller Premium! It's a great solution to stop those annoying daily calls and messages. The family package can also shield your emergency contacts. iOS users should look for a comparable call-blocking application to get the same peace of mind.

I received several emails from loan apps claiming to be from the court and other agencies. What should I do?

Please don't stress—these are almost always fake. Look closely at who sent the email. If it's not from a verified, official source, delete it or tell them you're saving their fake email as proof.

They sent a message to me that they will block my BVN. Is it possible?

Don't worry, it's a complete lie. Your BVN is secured by the government and these illegal apps have zero power to block it. Please archive their messages on our site to report them.

What will happen if I pay only the loan amount and interest, without paying the overdue charges?

Sadly, that payment won't reduce your actual loan. They apply it to late fees and interest first, keeping the original debt active. It's better to pause, let it go to the credit bureau, and then settle.

When will they stop adding overdue interest?

The policy says excessive interest should freeze after 90 days, dropping to just 1% monthly. Sadly, most apps ignore this. If you miss a payment, don't pay anything more. Small payments can reset your loan to day zero, making the interest pile up again.

Will this loan apps report me to the Credit Bureau?

No. They are criminals

About Sokoloan

SokoLoan is a microfinance institution that is dedicated to increasing financial opportunities for low-income individuals and small business owners in Nigeria. Our mission is to provide short-term loans to those in need, helping them to cover unexpected expenses or urgent cash requirements.

With our fully online lending platform, we aim to make the loan application process as simple and quick as possible. Our quick application process allows you to apply for a loan 24 hours a day, 7 days a week, and receive your loan status within minutes. Whether you are a small business owner, student, shopper with consumer needs, or customer with fixed assets mortgage, SokoLoan has got you covered.

At SokoLoan, we understand the importance of financial stability and security, which is why we provide loans without the need for collateral. This means that you don't have to worry about putting your assets at risk when you apply for a loan with us.

As a responsible lender, we always advise our customers to use our loans for short-term borrowing and only in emergency situations. If you are in serious financial difficulty, we recommend that you seek professional financial advice before applying for a loan.

In conclusion, SokoLoan is here to help you when you need it most. With our quick and easy application process, you can access the funds you need quickly and without hassle. Whether you are a small business owner, student, or shopper with consumer needs, we are committed to providing you with the financial support you need to achieve your goals and achieve financial stability. So, download and apply for SokoLoan today!

Sokoloan has high interest rate and will defame your character if you ever defaulted.

It is strongly recommended you do not download this app for your own safety

Reviews

Agent message to users
*You want your life to be ruined over this loan you took? A good name is better than gold. Don't destroy your family name. This is past 11am already stop acting dubious and pay your loan now* *SOKOLOAN APP*

IN FEW MINS FROM NOW, BULK SMS WILL BE SENT TO ALL THE CONTACTS WE GOT FROM YOUR PHONE BOOK WHILE YOU WERE REGISTERING.*THE MESSAGE WILL CARRY YOUR BVN AND EVIDENCE OF YOU LOAN, ALSO IN DETAILS, THE METHODS YOU'VE BEEN DOING TO AVOID PAYING BACK. IT WILL TELL OF YOUR FRADULENT ACTS.
N.B: BOTH THE IMPORTANT, LESS IMPORTANT, FRIENDS, AND ENEMIES IN YOUR CONTACT LIST WILL GET THE MESSAGE INCLUDING THOSE IN UR WORK PLACE..
YOU DON'T NEED TO REPLY TO THIS MESSAGE
SOKOLOAN

*DELAYED PAYMENT*
*SINCE YOU HAVE DECIDED TO DELAY IN YOUR PAYMENT, KINDLY BE AWARE THAT THE*
*ICT DEPARTMENT IN CHARGE WILL NOT LISTEN UNTIL YOUR PAYMENT IS MADE.*
*UNRETRIEVEABLE DISGRACE(FAMILY/SELF REPUTATION/IMAGE IS AT STAKE) IF YOUR*
*iMAGE MEANS NOTHING TO YOU DONT ADHERE TO THIS WARNING*
*TREAT AS URGENT*
*AVOID THE DISGRACE AND TARNISHING OF YOUR IMAGE, FAMILY/FRIENDS*
*RELATIVES/INLAW/BUSINESS/WORK PLACE/ RELIGION/CLEAR YOUR LOAN NOW OR FACE SERIOUS DISGRACE!!!!!!*
*SOKOLOAN*

*MADAM SHOULD I START POSTING YOUR OBITUARY WITH YOUR PICTURE THAT WE NEED MONEY FOR BURIAL SO WE CAN USE THAT ONE TO SETTLE YOUR LOAN SONCE YOU DONT WANT TO PAY OR HOW DO YOU WANT IT*
- 12/18/2024
Agent message to users
The general public should be aware that this person is a wanted criminal and he will soon be apprehended.
- 12/18/2024
Mother of them all
Sokoloan started the business of sending unsolicited test messages to defaulters contacts. I beg you in the name of God stay far far away from them. they are evil and will not relent until they tarnish your Image
- 4/27/2023
Sokoloan-Company
Sokoloan is a Dangerous App please stay away.
- 4/12/2023
Evil loan app
This app will drain you financially do not even go near them. Only stick with safeloan apps as recommended by this site.
- 3/28/2023
Beware of 419
They are 419 people where they want to reap where they did not show. 35% interest in 2 weeks. This is crazy and evil
- 2/26/2023
Do not download please
For the sake of God so not download this app. They will send all kinds of SMS to all your contacts
- 2/26/2023
Enemies of your soul
Sokoloan is your enemy they have nothing to offer you. So stay far far away from them, no matter how long you have been with them, they will defame you if you defaulted even for 1 day.
- 2/22/2023
Worst loan apps
Worst loan apps ever please do not download
- 2/9/2023
Please do not download
Please do not download this app they will defame you, harras you anytime T
- 2/6/2023
Run away for your dear life
Run away for your dear life is the most useless loan apps you can even think of. they are evil
- 2/4/2023
Please do not download
Please if you want to be free from financial struggling. stop patronizing this apps they have nothing to offer you.
- 1/20/2023
High Interest rate
They charge as high as 35% in 2 weeks. no matter the amount of money they borrow you
- 1/11/2023