Buy Work Tools, Pay Later With Bolingo
Buy Work Tools, Pay Later Empowering you to work, grow and own essential work tools, one payment at a time.
Our Solution
Own vital income generating tools and equipment with small, flexible payments over time.
Buy Work Tools, Pay Later is an inclusive asset-financing initiative developed by Bolingo Investment Experts Ltd to empower everyday income earners, particularly those in the informal sector, by providing access to essential work tools and income-generating assets without the burden of upfront costs.
Under this scheme, individuals can acquire assets they need for their trade or small business, such as a grinding machine, delivery bike, food cart or kiosk—use them immediately to generate income and repay gradually in small, flexible installments.
The unique advantage of this model lies in its "earn with it as you pay for it" approach: beneficiaries start earning from day one, using the asset to fund their daily operations and repayments. Once the full cost (plus a small interest) is repaid, the asset becomes fully theirs, with legal ownership documents transferred to their name.
This model fosters financial inclusion, encourages entrepreneurship and supports self-sufficiency for hardworking Nigerians with limited access to formal credit facilities.
Understanding the Process (Step-by-Step):
1. Application & Selection
- Target participants include small-scale business owners and operators such as:
- Traders
- PoS (Point of Sale) agents
- Commercial bike or tricycle riders
- Street food vendors
- Artisans and other informal workers
- Interested individuals apply through Bolingo’s accredited agents, field officers, or through the website.
- Instead of rigorous credit checks, Bolingo uses a simple credibility assessment (which may include personal guarantors, trade history or reputation within the community).
- The process is fast, inclusive and designed to minimize barriers to entry for low-income earners.
2. Asset Allocation
- Based on the subscriber’s trade, business need and earning potential, Bolingo allocates a fit-for-purpose asset. Examples:
- A food vendor may get a mobile food cart.
- A bike rider could get a motorcycle.
- A woman might receive a grinding machine.
- The asset is handed over immediately upon approval, no upfront deposit required, so the subscriber can start using it to earn income right away.
3. Flexible Payment Plan
- Repayment is designed to match the cash flow realities of the average informal worker.
- Subscribers can choose to pay:
- Daily
- Weekly
- Or Monthly
- Payments are small and spread over a period of time (e.g., 3–12 months), depending on asset value and subscriber income.
- Multiple repayment channels:
- Via the Bolingo mobile app (direct wallet deduction)
- Through designated agents who can visit for cash pickups, ensuring accessibility for the unbanked.
4. Ownership Transfer
- Once the total cost of the asset (including a modest, transparent interest) is fully paid:
- Legal ownership documents are handed over.
- The subscriber becomes the full and rightful owner of the asset.
- There are no hidden charges or surprise fees. The process is transparent and participant-friendly.
How It Works and Why You Should Apply Now?
How It Works:
Apply by clicking on Buy Work Tools, Pay Later button and fill the form.
Receive the equipment and start using it.
Make small daily, weekly or monthly payments.
Become the full owner once it’s fully paid!
Why Buy Work Tools, Pay Later?
No collateral.
Immediate use of equipment.
Easy payment plans.
Designed for your hustle.
Trusted by daily earners across Nigeria.
Top 10 FAQs on Own-As-You-Earn
To qualify, you must:
- Operate a small business or trade that generates daily or regular income (e.g., PoS agent, bike rider, food vendor, trader, etc.).
- Have your business situated in or near a recognized open market or commercial area where our agents operate.
- Be a Nigerian citizen or legal resident aged 18 years and above.
- Be willing to undergo a simple verification process (no traditional credit check required).
- Demonstrate a commitment to repaying in small, regular installments
We provide essential, income-generating tools tailored to your business. Available assets include:
- Grinding machines
- Motorcycles (for delivery or transport)
- Tricycles (Keke)
- Food carts or kiosks
- PoS terminals & Umbrella
- Sewing machines and salon equipment
- And other work tools that align with your business model.
You can access financing for assets valued between ₦100,000 and ₦2,000,000.
The amount approved depends on:
- The nature of your business.
- Your repayment capacity.
- The availability of the asset within our network.
This allows flexibility, whether you need a small tool or a full setup.
No upfront payment is required.
Once your application is approved, the asset is given to you for immediate use. You begin using it to earn income and start repaying in small installments. This makes it easy for business owners who lack access to large capital but are ready to work and grow.
We offer flexible repayment options that fit your income cycle:
- Daily, Weekly or Monthly, you choose what works best. Repayments can be made through:
- The Bolingo mobile app (for banked users).
- Direct cash collection by our agents (for unbanked users).
- POS or wallet deduction, where available.
All payments are recorded and trackable in real time.
We understand that income can fluctuate, so we offer the opportunity to defer payment with a token and provide reminders and support through our agents. However:
- Consistent defaults or non-payment may lead to temporary suspension or retrieval of the asset.
- Communication is key, talk to our support team early if you’re facing challenges.
- We may reschedule payments for those with genuine issues.
Terms are designed to help you succeed, not punish you.
You become the full, legal owner once you complete the total repayment (including the agreed interest). At that point:
- You’ll receive ownership documents for the asset.
The asset becomes 100% yours—you can sell it, lease it, or expand your business with it.
Yes, a modest and transparent interest of 2.5% weekly is added to the cost of the asset. This covers:
- Administrative fees
- Asset insurance
Support services The interest is disclosed upfront before you sign the agreement—no hidden fees or surprises.
Key terms include:
- Asset remains the property of Bolingo Investment Experts Ltd until full repayment is made.
- Subscribers must use the asset actively for income generation. It cannot be resold or leased during repayment.
- Consistent communication is required if payment challenges arise. Late payment is not allowed.
- Subscribers must consent to occasional monitoring by our agents or via the mobile app to ensure assets are in good use.
A written agreement will be signed before asset handover, outlining all obligations clearly.
To apply:
- Visit any of our authorized partner agents at select open markets
- or by clicking on the Buy Work Tools, Pay Later button on the website to fill the application form. You’ll need:
- A valid form of ID (e.g., NIN, Voter’s Card)
- Two guarantors
- Business location verification
Approval typically takes 24 to 72 hours, after which the asset is released and you start earning right away.
Couldn’t find your answer? Ask a question