Zidisha loans — a global online lending platform
Making use of a financial services provider that stretches its services beyond South African boarders is of great deal to South Africans who wish to use the services of Zidisha while abroad. The idea behind this concept is to generate a relationship between lenders and borrowers where they can directly connect with each other.
To access a loan through Zidisha, a borrower should follow certain steps:
The borrower should log into the Zidisha system and make a loan request; in return, the lender will select an available loan and bids to offer all parts of the funding. The interest rate of the loan is decided by the lender and 100% of the loan is deposited into the borrower’s account and repayments are done in weeks or months depending on the lender. In the process, the lender and the borrower keep contacting each other regarding the impact of the loan.
Zidisha has enabled thousands of entrepreneurs to access the much required funds for their business, the community has become a spring board for many marginalized business people who have created a relationship with lenders. In that case, borrowers will know where to go in the event that they encounter any financial hiccups; such relationships help entrepreneurs to access funds fast if they are able to repay their loans within the required period.