Frequently Asked Questions


For New Loans

Do I qualify for a loan?

  • You should be between 22 and 59 years old.
  • You must run an account
  • You must live and work in Lagos State
  • You must have a verifiable source of income
  • You must have a clean Credit Bureau Report
  • Account statement for the most recent six months
  • Signed online Direct Debit form
  • Valid proof of identification
  • Proof of residency (Utility Bill)
Depending on your current capacity and risk profile, you can access up to ₦3 million.
In case of default, we reserve the right to contact your employers, Next of Kin and involve a third-party collections body in an attempt to collect.
There are no upfront payments or hidden charges at all
This is relative. We consider businesses that have complete registration documentation and at least 6 months of cash flow in their business account.
No, we are non-discriminatory lenders who support local businesses by providing working capital extensions.
Outside of the interest, there are no other charges. Interest is charged flat monthly on the amount disbursed

Existing customers

Can I get another loan while one is still running?

You can apply for a top up while your current loan is running

My debit card is missing or expired?

When you get a new debit card, please send us an email via to set up the new card.

Do I need to submit all my documents again to reapply?

Send us your bank statement for the last 3 months to

Can I liquidate in part or in full before my repayment is due?

Yes, please. You can confirm the liquidation amount from your online profile and make a transfer into our account: GTBank 0451776148 or ask us to directly debit the amount from your account. Send an email to if you have further questions.

What happens if I change jobs and salary date changes?

Please send us a mail via

What happens if I cannot make a payment?

Please send us a mail via


How do I make repayments on my loan?

  • Repayments can be made directly into our account: GTBank 0451776148.
  • Automatic debits via online Direct Debit Mandate or card

How about if I want to make a repayment before my payment is due?

Repayments can be made into our account: GTBank 0451776148 and send us an email with the evidence via

My salary is going to be delayed; what will happen to my repayment?

You will incur extra interest per day delayed. Please log in to view accrued default charges.

There's been a second debit on my account?

Please send us an email via with the evidence of your first payment. The second debit will be refunded on the same day.

I have relocated outside Lagos, can I keep using the Loan?

Please send an email with details of your relocation to

Can I make payments before my repayment is due?

Yes, please. Send us an email – about your intention to pay early and make the payment at least 24 hours before your due date to avoid a second debit.

Will I be charged for early liquidation?

No. The amount due will only consist of the outstanding principal and accrued interest.

More about lending and investing with Sycamore.

How do I invest/lend with sycamore??

Simply click on the “Start Investing” button above, and follow the instructions by providing the relevant information. You will need to fund your wallet using your debit card. Alternatively, you can make a direct transfer to our bank account (GTBank 0451776148) to fund you wallet. Please send an email to or call 08097341810 if you have any questions.

What are the minimum and maximum amounts I can lend??

The minimum amount you can lend is N100,000 (one hundred thousand naira only). There is no maximum amount.

Is my money safe with you??

Lending to us is a safe bet as your money is covered under our insurance policy, and backed by security. We have also obtained a lending license from the Lagos State Government authority. Most importantly, we have never defaulted on payout to date.

If I want to liquidate, how long is going to be to get my money??

You will receive your money 24 hours after your request has been received. Please ensure that all requests are sent via email to

How do I request for my money back??

Please send your request via

Are there charges on my money with you??

A 10% Withholding Tax (WHT) is mandatory on interest accrued.

Will I be charged for early liquidation??

Yes, you will be charged 30% of the total accrued interest. Please refer to your agreement.