Money is an important asset. From money, one can acquire many other resources. However, there is a lending engine that eases all these processes.
Each day we use the money for different reasons. Having a way to earn extra time is very important.
There are many businesses one can start and earn a good dime. However, lending is a great way to start.
It is flexible and one can start it from anywhere. However thorough research is crucial in making the business.
What is Lending?
This is the process where a lender credits a borrower. A borrower however has to accept the terms the lender has set before being credited.
It is a two-way transaction since the lender expects the borrowed assets paid in extra. This means that the borrower has to pay a small fee (Interest).
It can be between an individual to an individual, or the organization and vice versa.
Is Lending legal?
Yes, it is governed by certain countries’ laws. However, it ought to be registered before one commences operations.
One also has to come up with their organization’s laws on lending. Also, the rates shouldn’t surpass the country’s rates.
One should also be careful before lending; there are many malicious people.
How does lending work?
As a two-way transaction, both parties have to agree on the terms. The lender gives the money to the borrower which then the borrower has to pay as per agreed terms.
Well, the lender also has to keep tabs on the borrower when they overdue in payments. An extra charge is incorporated (default fee).
So before lending and borrowing always have a plan to help you in case one of the parties fails or is due on payments.
Is lending profitable?
Yes, one of the lucrative businesses. Lenders earn from just giving money. Once you lend the payments are extra.
This means that the borrower has to pay interest as per agreed terms. Also one can get money from due loans.
There is also collateral that one pays if they fail to pay the loans. It is a flexible and money-earning business.
When to start lending?
Now is the best time. Why?
- Lending is lucrative– from just giving money you earn money.
- It is flexible- one doesn’t need an office to start lending, also one can receive or disburse money from many platforms.
- Money is scarce- one can’t lack clients to lend to.
Having a plan and budget will help you grow in this business. Of course one also needs to consider the risks involved. One however can manage the risks with a lending engine.
What is a lending engine?
Well, it is software that helps lenders, banks, credit unions, and other financial institutions ease the process of lending.
They help in keeping transaction records, producing reports and business statements. It is an effective lending tool.
So why use a lending engine?
- To increase efficiency- since it helps with reports and statements one is able to budget and plan ahead.
- It is an all-in-all platform- manage all your clients fast and easily from one platform.
- Flexibility- choose when and what to share with your employees as well as your clients.
- Tracking is fast- well all members have to register on the system, one can track all loans and their payments.
Of course, lending engines have come to ease transactions, they have also boosted businesses. One can easily manage all their clients’ data and transactions safely.
They too have become affordable.
Where to get a lending engine?
No need to search anymore; here is the best lending engine: Introducing Jisort. Web-based software for all financial institutions.
What is Jisort?
It is a loan management software used by SACCO, Microfinance, Chamas, and other Community-Based Organizations.
It helps manage client information, transactions and generates reports and financial statements needful for the organization.
How does Jisort work?
As a web-based software, this means transactions and data are managed over the internet.
Jisort offers an alternative real-time integrated banking channel that allows Financial Institutions to offer banking services with minimum cost.
The system is fully integrated and supports:
- Credit Refernce Bureus
- Among others.
Jisort has been up and running for over 6 years and has helped thousands of clients both local and international.
Here is a Demo of the system:
From the demo:
- The system is an all-in-one platform- this means that it is easy to manage all your clients’ data and transactions easily.
- User-friendly- the system is easy and very navigable from any device.
Why use Jisort?
- User-friendly- one doesn’t need special skills to use the system. Besides, it is an all-in-one platform.
- Affordable– for as low as $20 one is able to manage all their clients in one place.
- Reliable support- the support team is always ready to help whenever one runs into issues.
- Many payment gateways- easy to disburse or receive payments from clients without hassle.
Jisort is the best system to use. Get the Jisort System now!
Lending is a risky business but with risks come great rewards. One needs a lending engine to help manage all clients’ data and transactions.
Planning is key for all businesses. Also one needs to have a budget with which it helps manage assets and keep the business growing.