Zidisha Loan App is a unique lending platform that allows high-achieving individuals to raise loans directly from ordinary people all over the world.
The app provides a flexible and responsible approach to lending, making it an attractive option for those who cannot access traditional bank loans.
Why Join Zidisha?
Zidisha Loan App offers several advantages over traditional lending options. Firstly, it is open to everyone, regardless of whether they have collateral assets, a bank account, guarantors, or a salaried job. T
his makes it an inclusive platform that can benefit a wide range of people. Secondly, the app is incredibly flexible, allowing borrowers to choose their own weekly repayment schedule.
This means that borrowers can tailor their loan repayments to their income streams, making it easier to manage their finances. Finally, loans on Zidisha Loan App are funded by other Zidisha members, not banks.
This creates a supportive community of entrepreneurs and lenders from all over the world, who are united in their desire to help each other succeed.
Eligibility Requirements
To be eligible for a Zidisha loan, you must have your own Facebook account with extensive social connections. This is because Zidisha Loan App uses Facebook to verify your identity and assess your creditworthiness.
In addition, you must have a source of income that will allow you to make repayments each week. This could be through self-employment, a small business, or a regular job.
Finally, you must be able to secure recommendations from people in your community. This is because Zidisha Loan App prioritizes lending to individuals who are well-connected in their local community, as this helps to reduce the risk of default.
Loan Limits
Credit limits on Zidisha Loan App start small and increase with each loan repaid on time, up to a maximum of US $10,000. This means that borrowers can start with a small loan and gradually increase their borrowing limit as they build a history of on-time repayments.
Fees and Interest
Zidisha loans do not carry interest, which sets it apart from traditional bank loans. Instead, borrowers pay a service fee of 5% of the loan amount, to cover the cost of transferring and administering the loan.
Loans carry a credit risk payment ranging from 5% to 30%, which is used for reimbursing lenders in the event of default. The credit risk payment decreases as you build a history of on-time repayments, which incentivizes borrowers to make their repayments on time.
A one-time premium membership payment may be required in order to access higher credit limits. However, this is a small price to pay for the flexibility and inclusivity offered by Zidisha Loan App.
Conclusion
Zidisha Loan App is a revolutionary lending platform that offers a flexible, responsible, and inclusive approach to lending.
It is particularly attractive for those who cannot access traditional bank loans, and it offers borrowers the opportunity to connect with a supportive community of lenders and entrepreneurs from all over the world.
With its unique approach to lending, Zidisha Loan App is well worth considering for anyone who needs to raise funds for their business or personal needs.