Be it individuals or businesses, any one or entity can face unexpected cash flow gaps when it comes to meeting their urgent expenses. There are many factors due to which people may also find it difficult to avail of adequate funding to meet certain sudden, personal expenditures.
Among all the options available, taking out a micro loan to meet your urgent expenses shall be the most prudent choice.
No matter whether you are planning to expand your small business, considering to invest more in marketing, or facing a cash flow gap urgent enough to get you worried about making salary payments of the month, micro loans can significantly help you in meeting these expenses in a relatively hassle-free manner.
Through companies like Lendbox, you can especially acquire a micro lending with ease, just after completing a few simple steps. Lendbox is among the leading P2P Lending platforms of India through which you can avail quick personal and short term loans.
While most people are familiar with the typical bank loans, it is prudent to understand that they are not always easy to obtain. Taking up a bank loan can be a time-consuming process, involving a lot of formalities.
Moreover, not many banks provide personal loans to meet sudden, short term expenses, like the purchase of a gadget or wedding of a child.
Hence, if you cannot qualify for a typical bank loan or not have the time to wait for it to get approved, then choosing to acquire a micro loan for the funds urgently needed by you would be quite a good move.
What is a Micro Loan?
To understand how micro loans by Lendbox can help you, you must have an adequate insight into how this type of funding works. In the case of micro-lending or microcredit, loans are extended by individuals, rather than any bank or financial institution.
Just a single person or even a group of people can issue such loans. They are among the most prominent aspects of peer-to-peer (P2P), and provide people across the world to get access to quick credit to meet their urgent cash flow needs.
Micro-lending systems are largely facilitated by the increasing internet penetration and easy connectivity worldwide, including India.
This system is quite helpful in connecting people having financial goals and requirements that complement each other. People desiring to put the money in their savings account to good use can easily do so by lending it out as microfinance, while the prospective debtors can use this money to swiftly cater to their urgent expenses.
Lendbox is a registered peer-to-peer lending platform of India, which has, to a great extent, revolutionized the way smart, savvy investors/lenders and creditworthy borrowers connect with each other in the country.
Through this company, you can avail instant personal loans at interest rates that range from 16% to 28%. The loan amount available to you through them shall vary from ₹1,000 - ₹15,000.
You can simply download the Instant Cash Loan App by Lendbox in order to seamlessly avail such loan to meet up your urgent funding needs, whether it is to pay your credit card bills or to purchase a brand new gadget. This app is available on the Google Play Store.
The loan repayment tenure involved for Lendbox micro loans are quite flexible and can range from 6 months to 36 months. You can even take up short term loans of ₹25,000 - ₹5, 00,000 through this company.
There are many beneficial features that make it a good funding option for you to effectively meet any urgent personal and professional expenses you might have. Here are some of them:
Banks ideally do not extend loans to people who have little or no assets. Many of them do not even engage in the small loan size that is lower than ₹20,000.
Micro-financing has been based on the philosophy that even a small sum of credit can help people meet their financial requirements and aims to make small-scale funding accessible to all.
Several banks do not provide loans to small-scale businesses owners and young professionals who do not have land or house ownership certification.
However, these loans are made readily available to these people, ensuring that they do not have to face any difficulties in their personal or professional life in all tier 1 cities due to any urgent cash need.
Lendbox Micro loan is available to people belonging to all tier 1 cities of India. They simply have to download the Instant Cash Loan App of the company to take out the loan.
It is also available in all tier 1 cities in India, so download this app, enter your details, upload some basic documents and get your amount within 24 hours. Apply now!
Financial emergencies do not wait for your salary to get credited or your loans to get approved. They often tend to be time-bound in nature, and hence it becomes vital that you find a quick funding option to meet such expenses.
A microfinance can be approved within such a short span of time, making it perfect for emergencies. For example, making high electricity bill payments during the summer months when your salary has not been credited yet. The application process is quite simple as well, and can be completed online within a few minutes.
Lendbox micro-lending especially come with minimum documentation and KYC requirements, and can have the facility of same day approval and disbursement.
You just have to download the Lendbox Instant Cash Loan App, enter your details, upload certain basic documents, and your loan amount shall be credited to you within 24 hours.
How to Use a Micro Loan?
The applications of such loans by Lendbox are endless, and there is no such restriction on the ways to spend the money prevalent in such a funding option. The money loaned through the Lendbox Instant Cash Loan App can be used for numerous personal and business requirements.
In most cases, such lending are taken up by small scale businessmen to fulfill their basic operational requirement, including the purchase of inventories or supplies, furniture or fixtures, machinery or equipment, as well as making staff payments.
Due to the high flexibility level of Lendbox micro loans, they are often used for numerous personal purposes as well. They can help you to meet up:
No matter whether you are renovating your house or have to mend broken down furniture, micro loans can solve the cash crush you might be facing in these instances.
Holiday planning is extremely exciting, but tends to involve a significant amount of expenses. If you are lying low on cash while planning a vacation, then you can always take up a Lendbox micro-finance loan and pay it back later.
Everyone loves having the latest models of gadgets and digital equipment, but are often unable to acquire these items due to the lack of funds. However, it shall become easy for you to buy the latest gadgets as soon as it gets launched without worrying about the expenses involved with these loans.
Medical emergencies are quite critical, and scouring for cash to meet the expenses involved can be quite problematic for people. Using micro finance from Lendbox would be one of the easiest ways to meet these expenses promptly.
In addition to the instances mentioned above, a Lendbox micro loan can also be quite useful in paying your bills. There might be many cases where your bill deadline falls prior to the date your salary gets credited.
In such scenarios, you can always use micro lending options to make your bill payments in time to avoid any delay penalties.
The instant micro loans offered by P2P platforms like Lendbox can significantly aid you in maintaining a healthy financial status with quick cash. They also have flexible pay-back schedules, and hence you can repay your loan amount quite conveniently.
Downloading the Lendbox Instant Cash Loan App would be among the simplest ways to meet your urgent cash flow needs.