subject: Lenddo: Fast And Easy Loan Processing Based On Trust For Small And Medium Enterprises [print this page] What if you learn that there is a microlending company that gives you all these, would you grab it?
* 10 minute application processing
* convenient online loan application right in your house in your pajamas!
* up to 1 month salary on first loan
* free to join - no registration fees
* one (1) business day processing for qualified borrowers
* minimal transaction fee
* very low interest rate (1.99% or lower)
* best of all --- no collateral!
It is undoubted that most of us have tried borrowing money for various reasons. It would be nice if we could ask friends and relatives to always grant us loans with little or no interest at all at the soonest possible time. However, with these tough times, such scenario is almost impossible. It is not necessarily because they do not want to lend us but because they also do not have enough spare cash in their pockets.
On the other hand, banks and other financial institutions tend to favor borrowers with longer credit history, and enough assets to serve as physical collateral. In addition, many micro lending companies grant loans with very high interest rate in a very short time. Typically, they offer a 5% per month or more at a monthly payment scheme for as short as 6 months maximum time frame. Even worse, would be those that offer a daily payment scheme where collection starts a day after the release of loan! Worst would be the famous "Five-six."
Good news is --- Lenddo.com is here, and I am one of the proud members!
So, what is Lenddo.com?
Lenddo is a new microlending website that banks on its members' social network, credibility, capacity to pay, and online reputation! It utilizes the concept of social lending. So, if you are thinking where to get loans right now or in the future, Lenddo can be considered for loans. What more? Lenddo also teaches its members financial literacy through their updated blog, meet-ups, and events!
But wait! Before we get too excited, let us know more about this amazing social lending website.
What type of loans do Lenddo fund?
Now, not all loans will be granted. Below are the type of loans that Lenddo support as of this iting.
Lenddo can be tapped for small business loans;
Self investment loans such as education, and career-related expenses (i.e. moving costs, supplies or training) is also within their list;
This microlending site can also be depended upon during medical emergencies;
Home improvement loans are also in the list; and
Lenndo can also help in debt consolidation.
You may say, I am now excited.
What is the process in applying for a Lenddo loan?
First and foremost, you must be a member of Lenddo.com. It's open to all and best of all it's free - no registration fees!
Upon joining Lenddo, the following steps must be made to qualify for a loan.
1.Complete your member information such as Contact details, Employment and Financial information (Bank account where Lenddo can send your loan, SSS, Tin Number, etc.). Accomplish proceeding steps to have at least 400 Lenddo score.
2.Connect your Social Network accounts to Lenddo which will allow it to verify your information for loan assessment.
Social Network Accounts: Facebook, Yahoo, Gmail, LinkedIn, and Twitter(Note that you do not need to have accounts for ALL the social networking sites mentioned, but it will surely add up to your Lenddo score if you link and have all those accounts.)
3.Invite friends and family members to join Lenddo.com.
4.Create your 'Trusted Network.' This should compose of the following: At least 3+ people with a 400+ Lenddo Score (1 family member, 1 co-worker, and other people you trust)
5.Once, the above requirements has been established, simply go to tab 'Loans', then click 'Apply for a Loan.'
6. Completely and truthfully fill-up the online loan application form and accomplish corresponding requirements for your specific loan. Submit.
Lenddo.com is indeed one of the best breakthroughs in micro lending. No physical micro lending company I know can surmount the ease of loan application and processes through the innovative thinking and caring attitude of the founders.
However, like all other websites that involves money and members' identity, Lenddo would surely be the target of hackers, identity thieves, and other online syndicates.
Therefore, this novel idea should be supported by good intentions and utmost dedication on the side of Lenddo as a company to ensure the safety of the site members' private profile and most especially their financial information.
