The financial and banking industries are characterised by processes and rules both for lenders and borrowers. These rules and processes are set by the middle man who in most cases are commercial lending institutions. While these processes are designed to safeguard security interests, they have been found to be a stumbling block to facilitating quick access to finance. It is for this reason that a person to person lender in the name of Zidisha came on the scene.
Zidisha was established in 2008 out of a strong desire to break geographical boundaries and economic disparities by using technology to connect internet capable young adults in the worlds poorest places with a global market for person to person loans.Through this online facility, borrowers transact directly with lenders and raise the funding they need to grow small businesses. Borrowers enjoy lower costs and are limited only by their own track record of responsible repayment.
Customers can start by browsing the listings of available loan opportunities, when something suitable is found, a bid can be made for any portion of the loan and choose own interest rate. Once the loan is fully funded and the borrower confirms acceptance,100% of the funds are disbursed.The borrower and lender can then communicate directly through the comments section located at the bottom of each loan profile. Repayment occurs in weekly or monthly installments.
Zidisha can be contacted on various online platforms.