LoanMeet-Bringing Positive Change to India
Peer to Peer Lending is now standing out as a new way for people just entering or despondently not entering the credibility pool to qualify for a loan. Different Peer to Peer Lending platforms attempt to follow a different approach towards analyzing a borrower’s profile and judging the loan risk. Not to mention the heated-up competition with the banks, where the interest rate dilemma still remains. Strange but true, the historic floating rate changes have played no smaller role in creating havoc with the loan sanctions. Thereby whoever succeeds in building a less credit dependent model will be the pick of the litter with borrowers lining up. LoanMeet, a P2P Lending platform, making an endeavour in bringing about a radical change has borrowers and lenders who say great things.
Truth to be told, what the customers want in the first place is the documentation and all procedures involved to be numbered. Supriya, a borrower at LoanMeet spoke before us about all the hiccups involved in getting a loan from the bank. It doesn’t matter how simple it probably might look in their advertisements, but the fact remains. It actually surprised us more as she happened to be a Financial Advisor. “What I am most moved about by Loanmeet is its process-oriented practice”, she said.
Even in this generation of technology, most people find it difficult to take their leap of faith on online industry where these P2P Lending platforms stand, most likely because they are on tap to go with the tedious process the banks follow rather than relying on a model they don’t know about. LoanMeet also has initially been a casualty of this shortcoming of trust, but now it stands out making a difference in the lives of many. “I never trusted online platforms, but LoanMeet just surprised me with the process they work on”, says Shamala, another borrower at LoanMeet.
One of the ugliest apprehensions that still remain in the minds of people with lower credit even after getting a loan is to figure out creative ways to chip away the debt. LoanMeet has lenders who are receiving the money they invested in with attractive returns, which says that the borrowers are accelerating the payments without default, all with the purpose of becoming debt-free. LoanMeet aims to build a sustainable model such that its services reach everyone and bring about a positive change.
