If you add up the money you spend on daily expenses like rent, food, clothes, etc you will realize that you have a lot of money. The only problem is that you never get it in a lump sum yet all the good things you want to purchase require huge lump sums to pay.

With a peer lending system like Socin, you can get the huge lump sums from individuals who have extra money, to pay for what you need. You will be able to negotiate a fair repayment schedule that your earnings can pay for comfortably. You can pay monthly, once every three months or any period you find appropriate. It’s just a matter of discussing terms with the potential lender.

The only problem that would make this wonderful arrangement fail to work for you is that many people are untrustworthy. Yeah, we’ve seen many wonderful platforms close down. This happens when borrowers receive the money, purchase what they need but fail to honor the agreement set with the benefactor. In the end lenders just have to hold on to their money.

A peer lender who lost money in a different platform seeking advice on Facebook

 

Luckily, Socin has a solution to that problem too. Every borrower who wants to be taken seriously by lenders on this platform contributes 4%of the amount he/she intends to borrow to the platform before posting a request.  You know this as insurance. This money goes to a collective pot from which lenders are compensated when a borrower fails to pay back what he or she borrows.

Since you are still reading this post, we understand you are a serious borrower who would like to take loans from time to time to purchase what you need. Make sure your effort doesn’t go to waste by helping create a community to be trusted by every lender – it only takes 4%

One thought on “Think 4 Percent

  1. I aggree the common mistakes by borrowers are state above,if only there is office in each country that can validate if the borrower can really pay.