FAQs

Our most asked questions and general information about us and our platform

Our Microlending

ABOUT THE COMPANY

We know that being an entrepreneur has more than a handful of challenges. Often is just a little financial push what it takes for your business to reach financial success.

We are here to help. We are a lending company determined to help grow your business, regardless of its size. Whether you are looking to expand your company, buy new inventory or working capital, we tailor-make our loans to fit you.

WHERE ARE WE LOCATED?

You can find us at 3191 Coral Way, Suite 109 Miami, FL 33145

What is a microfinance institution? (MFI)

A microfinance institution (MFI) is an organization that provides financial services such as loans, savings, Investment, and maybe even insurance to micro-entrepreneurs and/or unbanked people. An MFI can operate as a nonprofit like a non-government organization (NGO), credit cooperative, non-bank financial institution (NBFI), or even a formal, regulated for-profit bank.

Although most MFI’s provide microloans to entrepreneurs of low-moderate income, they can differ in services, size and reach; some serve a few thousand clients in their immediate geographical area, while others serve hundreds of thousands, even millions, in a large geographical region, through numerous branches. Many MFIs offer services beyond loans and savings, including education on business and financial issues and social services, focused on health and children.

What is microlending?

A micro-lending is a program that offers microcredits, also known as microloans, and other financial services to unbanked or low to moderate income people, to help them increase their income through entrepreneurship and self-employment.

What is a microcredit?

Microcredits consist of a small loan given to individuals or corporations, to help them expand or develop a micro or self-sustaining business, and occasionally to establish one.

HOW IS MICROCREDIT DIFFERENT FROM A TRADITIONAL LOAN?

Requirements: No minimum credit score is required, all the analysis and the decision is based on the ability to repay, the client references and the performance of the business.

Qualification: Microcredit clients spend all their time taking care of their businesses themselves, they have less than 5 employees, they are also referred to a small business, and in cases, they use their own money to finance their commercial activity. In that regard, microfinance methodology is based on a very personalized service in which the loan officers go to the client to guide and assist them during the application process.

Conditions: The interest rates reflect the risk of the target market.

Terms: Significantly shorter than traditional bank loans.

WHO CAN APPLY FOR A MICROCREDIT?

Any Individual, corporation or professional, that has a business, commercial activity, or private practice; with more than 6 months of operations.

If the potential client has less than 6 months in business, it must be able to prove previous experience in the field.

WHAT IS A MICROENTREPRENEUR?

Also known as micro businesspeople or small business owners, individuals with a commercial activity or corporation with less than 10 employees, in some cases, located in low to moderate income areas or professionals with private practices.

WHY DON’T PEOPLE JUST USE TRADITIONAL BANKS?

Even though some microfinance institutions offer different types of microloans, the methodology, philosophy and objective of the microfinance programs is to help microentrepreneur either with microcredit or financial training.

Platform

WHERE CAN I DOWNLOAD THE APP?

Look us up in the Apple Store for IOS devices or Google Play for Android Devices under the name “Our Microlending”

 

CAN I START MY APPLICATION ON MY COMPUTER AND THEN CONTINUE THE APPLICATION THROUGH MY PHONE?

Sure! We are a cross-platform application. Check us out on your phone, tablet or computer.

HOW CAN I REACH OUT ABOUT ANY QUESTION?

You can find our customer support on the bottom right corner of our website or in the menu bar of our apps.

Loan application process

HOW DO I APPLY?

-Sign up in any of our platforms (web, iOS or Android),

– Fill out an application with information regarding yourself and your company

– Tell us what loan are you looking for and how much do you need.

-Schedule a visit to your business with one of our loan specialists

-Get approved in 48 hours

CAN I APPLY IF I DON'T HAVE A REGISTERED COMPANY?

Yes. It does not matter whether you’re working as a freelancer; have a registered company or other commercial activity. As long as the credit is intended for your business.

WHY DOES A SPECIALIST HAVE TO VISIT MY BUSINESS?

We try to make our loans work for our customers and not the other way around. We visit your business in order to better understand your needs.

HOW LONG DOES IT TAKE FOR MY APPLICATION TO BE REVIEWED?

48 hours

HOW LONG DOES IT TAKE FOR MY CREDIT TO BE DISBURSED?

72 hours (24 hours after being reviewed)

AM I ELIGIBLE FOR A LOAN?

Our loans are eligible to any US citizen and/or any legal alien with work authorization. We assess our loans on a case-by-case basis. We are not FICO driven.

HOW MUCH CAN I BORROW?

Typically From $3000 to $50,000.

WHAT TYPE OF LOANS DO WE OFFER?

Business loans.

WHERE CAN I MAKE MY LOAN PAYMENTS?

Through our direct payment system (ACH)

WHAT ARE THE INTEREST RATES?

From 13.25% up to 18%

WHAT IS THE TERM OF THE LOAN?

From 12 Up to 24 months

WHAT CREDIT SCORE DO I NEED TO QUALIFY FOR A LOAN?

We are not FICO driven. We assess our loans on a case-by-case basis and so a customer can still be eligible without a good credit score.