Here’s How You Can Benefit from It
There has been quite a buzz around the term “microlending” in the last decade or so. What is microlending? And, how can you benefit from it? If you want to know more about micro-lending services, GIB Global Investment Bank reviews its services to help you with the dilemma.
GIB Global Investment Bank is a trusted financial services company that offers bespoke investment services. To make it easier for you, we will give you a clear idea about our microlending service and its benefits.
What is Microlending?
Microlending refers to the act of giving small loans. It is a form of financing that provides small amounts of money to typically poor entrepreneurs to encourage self-sufficiency and end poverty.
The funds they received through microlending programs are used to start businesses. Over time, they have to pay back the loans with the ultimate goal of raising their income status.
How Does Microlending Work?
Through micro-lending, GIB Global Investment Bank offers small loans at an affordable cost to provide a real opportunity to borrowers. Some argue that the high cost of microlending defeats its purpose as a poverty-fighting tool. But an undeniable fact is that borrowers must make at least enough to cover the principal and interest on a loan.
Micro-savings accounts are also under the microfinance umbrella. GIB Global Investment Bank allows entrepreneurs to have a savings account with no minimum balance. Also, microinsurance provides our borrowers with insurance at a lower rate.
How can you benefit from GIB Global Investment Bank’s microlending service?
Getting a loan approved fast: This loan that GIB Global Investment Bank provides can be approved within a short period and is essential during emergencies. This application process is simplified in our company, and you can apply over the phone or online in just a few minutes.
Better loan repayment rates: GIB Global Investment Bank tends to target women borrowers, who are statistically less likely to default on their loans than men. Hence, our loans help empower women, and they are often safer investments for those loaning the funds.
Time: Time is always of the essence for small business owners in need of working capital or loans. Waiting for a traditional loan can take months, whereas GIB Global Investment Bank’s microloan may take as little as 14 days to come through. We have our lending requirements, and each of them is handled with approvals at the local level
Flexible Requirements: Another aspect that makes our loans helpful is the flexible guidelines for loan approvals. Many lenders do not approve a loan unless you have pristine credit, business history, and sufficient collateral. But luckily, GIB Global Investment Bank considers other factors–personal collateral and a personal guarantee. But what truly separates GIB Global Investment Bank’s microlending service from traditional lenders is the personal touch. Microlenders take a more hands-on approach with their borrowers and go so far as to contact personal references.
Easier Eligibility: The eligibility requirements for microlending are few, as compared to traditional small business loans. GIB Global Investment Bank provides loans to help business owners buy raw materials, inventory, equipment, and there is no need to specify the purpose of taking the loan.
Sustainability: A small working capital loan can be enough to launch a small business in a developing country that could help individuals become successful. These small businesses can be able to help create new employment opportunities, which will have a beneficial impact on the local economy. If you want a loan for building up your small business, then again, GIB Global Investment Bank will come in handy.
Building Credit: GIB Global Investment Bank provides a pathway for small business owners to build or rebuild their personal credit history through microlending. Many have little or no credit history and don’t have the collateral that larger businesses can use to secure a loan. As a small business owner makes payments on a loan, we will report its payment experience to the credit bureaus. Once GIB Global Investment Bank’s microloan provides in full, most micro borrowers can qualify for financing through traditional sources. This is a great way to grow your capital.
Business Training: This educational component, which micro borrowers must fulfil before their application is accepted, is a step in the right direction. GIB Global Investment Bank has premium business training and planning. So, more startups can avoid costly mistakes and are more likely to be successful in building a solid credit history in the process.
Extending education and health: GIB Global Investment Bank makes sure that the families receiving microfinancing do not pull their children out of school for economic reasons and are more likely to have all the resources to pay for school fees and more.
Fewer complications: Microlending services of GIB Global Investment Bank have fewer complications than traditional loans. Convenience and simplicity are two of the primary reasons why our microlending would be so helpful among small business owners. In situations where traditional financing is unavailable due to strict documentation rules laid down by banks and other conventional financial institutions, our loans can be very useful.
Improved income and nutrition: Through our small loans, women can get needed agriculture inputs such as improved seeds and fertilisers. Which eventually can increase the productivity and nutritional content of crops and generate more income from the market.
Break the cycle of poverty: The microlending of GIB Global Investment Bank can help women break poverty. Often, our loans can be as small as $50. But using this loan, a woman can continue building her business, grow capital, repaying this loan, and taking out larger loans to buy a building for her venture, complete with a refrigerator and attached home for her family. This is GIB Global Investment Bank’s microfinance at its best.
Now that you have a clear idea about our microlending services and benefits, GIB Global Investment Bank would look forward to hearing from you. Either way, microfinance is a supreme topic in the financial realm, and if done correctly, could be a powerful tool for many.
Our micro-lending service can serve as a valuable tool for the financially underserved when used properly. With our platform, you will be able to provide digital identities, thus increasing your ability to repay your loans. In our community, members have easy access to banking and financial services. And with the agents earning commissions, microlending is easier.