Introduction to quick loans
Loans are in existence since the time trading has started among people. They’ve in both barter system as well as in monetary system. Quick loans are needed today to meet people’s / organizational demands.
Loan acquisition has become a cumbersome process over the time, involving a lot of paperwork. Also getting the loan amount took a significant amount of time. The process is prone to malicious editing.
Today loans are also transforming into e-loans as technology is advancing and e-currency is spreading its roots in the market. People can lend money online and then use some P2P money lending platform to keep track of their loans. This quick loan methodology is fast, robust and reliable.
Problems with traditional methods
A bank may reject any individual’s loan based on certain circumstances. For eg: most banks do not give personal loans to individuals having salary less than 25K INR, or may be people fail to get a loan at a nominal interest rate. People can take help of P2P lending sites in such cases.
Redefining quick loans with Exilend
Exilend is a free, reliable P2P money lending platform. Some of its key features include:
- Quick loans: loans can be obtained within an hour of the request through P2P lending.
- Interest tracking on loans: Exilend also takes measures to track multiple rates of interest from different persons, if in case a person has taken a loan from multiple parties, each imposing their own rate of interest.
- Interactive data representation: It gives detailed statistic review on previous loans which is also a measure of borrower’s credibility.
Apart from that, it allows obtaining quick loans from multiple parties by making money pool.
The loan payment can be easily made through any of the existing payment methods (PayPal, net banking, cheque, bitcoins etc.).