Personally, I don’t believe in loans but there are times that we all need one. Like when I was operated on ruptured brain aneurysm last year, the rupture was so sudden that we were caught unprepared for medical emergency that costs more than a million pesos. So, we had to avail of a loan from my aunt. We were lucky my aunt gave us the money, no question asked. But not everyone have a generous auntie. If I will be getting a loan from the bank, I guess it would take sometimes before they could process my loan and I don’t think they will grant me one from my hospital bed, don’t you think so?
What will you do, in case you find yourself in a medical emergency? Some people I know ask for loans from government agencies but it takes too long for the loans to be released and the process was so tedious that they are already so stressed-out before they get their loans. So I did a little research on-line and found an institution that could now ease our financial stress. We could now avail of a quick, easy, hassle free loan from Lenddo.
And because Lenddo is new to us I made my own version of FAQ, so we will all understand how this Lenddo thing works.
Lenddo is the world’s first credit scoring service that uses your online social network to assess credit worthiness. That is why Lenddo only provide loans for employed individuals. It’s a convenient way to access low-interest loans, and processing is in just 24 hours.
Lenddo provides loans to specific purpose such as the following:
- Education – get a Lenddo educational loan
- Health and Medical
- Professional Training
- Career Related Relocation
- Home Improvement- fix urgent home repair with a Lenddo loan
- New Appliance and Furniture
- Debt Consolidation
- Business Loan
- Wedding Loan
- Financial information
- And connecting your Social Networks
to Lenddo which will allow Lenddo to use this information for loan
you have to comply with the following minimum requirements.
- Have a Lenddo score of at least 400 points in your score
- Have three (3) Trusted Network each of them should have at least 400
points as well.
- You need to be employed.
- TIN number
- An SSS or GSIS number
- Current bank accounts.
your trusted community are the ones that can vouch for you. They are the
ones that can prove you are credit worthy. The basic community is a
group of people you know but don’t necessarily trust.
country’s regulations you can usually respond within 1 business day, no
more waiting for weeks only to be denied!
Within (1) one business day if the information provided by the member is complete and this includes your profile and loan purpose information.
How does Lenddo assess my credit?
Lenddo uses your social media (i.e. Facebook, Gmail, twitter, LinkedIn, Yahoo, MSN, etc.) to determine the strength and integrity of your social network and that you are who you say you are.
What collateral must I put up for a loan?
Lenddo does not require any physical collateral. They leverage on your reputation with your friends and family as collateral. In an extreme case, if you fail to repay your loans or are late on repayments, they reserve the right to lower your credit score, notify members of your network and reduce the credit score of those who referred you.
dependent on your Lenddo score and local rates
months to One (1) year.