The Borrowing App mobile application offers customers a unique opportunity to obtain a microloan on favorable terms in the shortest possible time. Users submit an application and within minutes can find out how many credit organizations are willing to provide them with funds and under what conditions. In this material, we’ll detail the terms and procedures for obtaining the loan and provide basic recommendations that will be useful to anyone, as urgent money needs arise for everyone.
Instructions for obtaining a microloan through the app
Obtaining a loan and receiving funds is easiest and fastest using this modern and functional mobile application. The client will spend only a few minutes completing all the formalities. Here is a step-by-step guide on how to get money in the shortest possible time:
Visit the official Google Play Store. Find our mobile application for issuing microloans online. Download the software to your mobile device. Install the application. The utility takes up minimal space in the phone or tablet memory and operates smoothly even on devices with older operating systems. Register in the app. The user only needs to provide basic information about themselves—name, date of birth, approximate monthly income. Fill out the microloan application and submit it for consideration. No documents need to be attached. The main thing the user needs to specify is the required amount and the duration for which they want to receive the money.
After submitting the application, it is automatically reviewed by several dozen microfinance organizations. Each client is guaranteed several approvals and can then independently choose where and under what conditions they want to receive the funds. It’s important to understand that the mobile application itself does not review applications, approve or reject microloan issuance. The developed software acts as a modern and functional intermediary that connects the borrower in need of funds with a microfinance organization ready to provide them. The mobile app database includes several dozen companies with different loan terms. This guarantees that each application will ultimately be approved.
Advantages of arranging a microloan through applications
When sending and receiving a microloan through a mobile application, the client is guaranteed several significant and undeniable advantages. The main advantages are:
The loan can be obtained in the shortest possible time. It takes only a few minutes from submitting the application to receiving approval. Once the client selects a microfinance organization and agrees to the listed conditions, the funds will automatically be credited to the specified bank card details.
The application and loan can be arranged at any time, even at night or on a weekend. There’s no need to wait for weekdays or visit the credit organization’s office to apply for a microloan. Everything can be done online. The entire process of reviewing and approving loans is highly automated, so the client receives a decision on their request in the shortest possible time.
Even clients with a poor credit history can arrange a microloan through the application, for instance, if they have previously delayed a payment or forgotten to pay interest on a loan. Microfinance organizations have the opportunity to lend money to clients with poor credit histories when requesting small amounts. In such situations, the organization itself does not risk significant financial losses. For the client, it becomes a good opportunity to begin restoring their credit reputation. If the loan is repaid in full and on time this time, in the future, the client will have more prospects and opportunities to receive a larger loan on more favorable terms.
Conditions for issuing a microloan obtained through the mobile application
The conditions for issuing microloans in the Borrowing App mobile application depend on the microfinance organization that approves the disbursement of funds. Users can receive funds for a period ranging from 65 days to three years. The interest rate depends on the organization providing the loan amount and repayment period, ranging from 6.63% to 35.99% per annum. The wide variety of microfinance organizations ready to provide funds allows the client to receive money on optimal terms that suit them best.
