16/07/2022
Loans are taken by irresponsible and greedy people”. This is a statement we must have come across at one point in our lives. It has been repeated so often that to some people it has started to sound like the truth. Anyway, before we get ahead of ourselves, let me introduce you to the FairMoney blog, and this is the 1st episode of our FairMoney blog series. Welcome!
Now back to loans… Contrary to what some people will say, loans are positive credit facilities that have been known to launch business empires, save people from avoidable embarrassments and help individuals in delicate situations get their lives back on track. So it is surprising why anyone would have any bad thing to say about loans.
The belief of many is that loans are taken by people who live beyond their means, the posers and the greedy! This belief is very far from the truth. I like to see loans as advance payments of monies I am going to own. Funny, but if you look at it in detail, it is receiving money earlier than its expected date. This allows you to seize opportunities that could have slipped by if you didn’t have the financial capabilities.
When it comes to loans, the lies can go on for days! I say lies, some say misconceptions, but all together, the followings about loans are false:
Loans take a very long time to process: In this day and age with the rise of digital banks like FairMoney Microfinance Bank, loans are quick and can be approved in only 5 minutes.
Loans are only accessible to salary earners: You hear people chant out loud that only salary earners can collect loans. This statement is very wrong as loans have become accessible to everyone. From salary earned rs, entrepreneurs to small business starters, everyone can access a loan. All you need is a smartphone and the FairMoney
