Lenddo Philippines | Financial Empowerment

A Youtube video has caught my curiosity into exploring the possibility of building my creditworthiness through social media. I have made, and is still making, a lot of friends because of this beauty blog and admittedly, I am more active in the online community through social networking. And also because of this beauty blog, I was inspired to venture into a business that is close to every woman's heart: make-up! But all businesses need capital. I think that I've found the solution on where I could get the capital for my business. Below is a short video about Lenddo, a credit facility that is based on community trust.

Lenddo provides small business loans and what's great about it is that they are here in the Philippines and ready to serve the Filipinos. What you need to do is just sign up, build your Lenddo score and apply for a loan. Everything is done online, you need not queue for long hours, and you can simply fill out the loan application form in the convenience of your home, provided that you have an internet connection.

Building your Lenddo score is easy. You need a Lenddo score of at least 400 before you can apply for a loan. Don't worry because getting this score is not a hard task. Simply sign up and you will be rewarded with 120 points. Add 150 points if you connect your Facebook account, and another 150 points up if you connect your Yahoo account. Easy. 

my Lenddo profile

After building your score, you also need to build your trusted network. Who will be in your trusted network? I've invited a lot of friends in Lenddo through facebook but I did not add everybody in my trusted network. You have to make sure that you only add those people who are credit-worthy. You need at least three people in your trusted network before you can apply a loan. Who are these people? One must be a family member, another must be a co-worker, and the other one could be your friend. But you must be careful in choosing who to accept as a member of your trusted network because your Lenddo score would matter depending not just on your own activities but also that of your trusted network.

Once you have built your trusted network, you may now apply for a loan. To apply a loan, you must provide your personal, employment, and financial information. Your GSIS or SSS number, as well as your Tax Identification Number are also relevant. As with all credit facilities, you must have the capacity to pay for you  to be approved, so it is important for you to be employed or to at least have some legitimate sources of income. You must also have a bank account.

You may apply for a quick cash loan for education, professional training, or health and medicinal purposes. Or, if you want to buy that new sandwich maker that you've been eyeing since last payday, you can also apply a loan to buy new appliances and furniture. Business loans and housing loans can also be availed of.

What's great about Lenddo is that it is so easy and free to join, and there are no costs associated with applying for a loan. Plus, loan processing and approval may be had in as early as 1 business day, so you can have access to cash at the soonest possible time. While filling out your loan application form, a matrix containing information about your monthly salary, monthly expenses, and remaining budget is displayed at the bottom portion of the screen, with an estimated amount of your  monthly payment, so it's very easy to evaluate whether you have picked the right loan terms and how soon you can pay off your loan.

Lenddo's presence and availability in the Philippines is really a good indication in our economy. I think that Lenddo will be a great tool for middle class financial empowerment. Through this credit facility, we now have greater access to cash that will enable us to improve our career and to create businesses.