LB Circle -The name might be unknown to most of the people but this name will be a trending topic in the near future. This leaves us with a question that why is it so?? LB Circle is a peer –to- peer network that facilitates borrowing and lending in an easy manner. Managed by a team for facilitating ease in the transactions, the process of borrowing –lending is easy and less cumbersome as compared to other lending agencies.
There are many different ways for people with an extra income to multiply their money such as investing in stocks, fixed deposits etc. But all these pose numerous formalities, restrictions to the money holder. LB Circle steps in here to ease the process for the money holder. It is a single platform where borrowing-lending can take place at ease providing benefits to both the parties. A person willing to lend money should register himself with the LB Circle by making their profile supported with a few documentation. Borrowers are also required to register with on the network and are required to make a strong profile by providing all the valid details. Benefits are provided to borrowers as the lending process of banks is not easy and also are time consuming.
A borrower and a lender can meet on the network and agree to borrow-lend a certain amount of money at a certain rate of interest that is to be decided by the two as there is no fixed rate. A borrower explains his need for loan which the lender scrutinizes from his profile before agreeing to lend. Both the parties can enter the transaction process at their will. The repayment takes place on a monthly basis in the form of EMI.
The advantages to be discussed for both the parties are many such as:
- Own Terms
- Better Rates
- Speed of funding
- Transparent and efficient
- Spreading Risks
For this single window facilitation, LB Circle charges a meager interest of 2% of the transaction or Rs.1000 whichever is higher. The team provides all the services in a single transaction and works till the borrower- lender are satisfied with the process. Any fault in the part of repayment is brought into the consideration of Debt Recovery Agency which then ensures legal actions on the borrower thus providing safety to the lender.
LB Circle is the emerging transaction process of the near future.
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4 Comments. Leave new
Good effort..!
good effort!
Well explained… Good efforts..
good…