Borrower Application
Borrower Application
Lenders want to know the individual borrowing their money
They want to get to know you especially when you are outside their country
Upload photos of family and your business
Register the Geo Location longitude latitude Street views of home and business locations
We need all four corners of the property if possible see you tube link below
Identity documents Birth Certificates, University and Marriage Certificates
Government issued ID all need to be uploaded
Your documents will be secure and accessible by you at anytime for free
See youtube video link for instructions photo below
Loan amount requests are $100.00 to $1,000.00
How much are you wanting to borrow
How will you use the money
Borrower commits to make payments on the first of each month
Lender and Borrower set interest rate at 1% over US prime rate using simple interest
Example loan amount $1,000.00
US prime is at 4% + 1% = 5% x $1,000.00 = $50.00
So $1,000.00 + $50.00= $1,050.00 divided by 12 months = $87.50 per month
Loan payments are due on the 1st of each month and late after the 15th
Payments made after the 15th will be assessed a late fee of 10% of payment amount
Payment records will create a credit report file for the borrower
Loans will be for a 12 month term interest rates will be on 1% above bank prime rates US
The rate for the loan will be set and agreed upon by lender and borrow prior to funding
Borrower understands their payment record helps them build credit will be reported
Credit helps bad credit hurts