A personal loan is especially a sum of money that is expected to be paid back with interest.
A personal loan provides funding for individuals and business owners and can be repaid in installments and can be used for any purpose such as business, start up ideas ,building projects etc
There are many false myths associated with personal loans, and this makes individuals refrain from applying for them.
Let’s look at some of these misconceptions regarding personal loans.
Here are some false reasons borrowers refrain from loans.
1. Only banks give Loans:
Many Borrowers believe that only banks and financial institutions give loans, however Loans are not only credited by banks but by other empowering institutions such as Chinmark Group.
#ChinmarkLoans has created flexible repayment plans for individuals and businesses who are willing to take advantage of her loan services.
2. All loans have high interest rate.
Another false belief that makes borrowers avoid loans is that they believe, all loans attract high interest rate.
Repayment of loans has been made easy,
At #ChinmarkLoans you have the opportunity to enjoy the lowest interest rates on our loan facilities.
3. Loans involve long procedures
People tend to believe that loans take a very long time to process and involves complicated procedures. The truth is, personal loans can actually have a quick approval cycle, with the right documentation and evaluation process.
At #ChinmarkLoans, our loan process and approval is convenient and smooth. From loan application to approval, once all documents have been submitted and verified, you can be sure of a credit disbursement in hours.
4. Those with existing loans are not eligible for personal loan
If you have an existing loan that you are servicing, you can qualify for another loan, as long as you meet up to the requirements of the lender.
You can apply for a new loan with ChinmarkLoans even when you have an existing loan, provided you meet the eligibility criterion, you can be guaranteed a financial support for your business or project.
5. Borrowers don’t get credited the amount they requested
This is another false reason why personal loans are not embraced, borrowers believe their requested amount may not be credited by the lender, some people also believe the amount of funding they need may be too much for the lender to provide.
At ChinmarkLoans, we encourage applicants to apply for the financial assistance they need, and once all documents and verification checks out, the borrower is credited according to his request.
Applying for a loan is really that simple.
To apply for a facility with us at Chinmark Group, all you have to do is fill in a short application form to answer some personal questions and submit your Collateral documents for verification and evaluation.
Acceptable Collateral are Landed properties, Buildings or Vehicle.
so we can determine how we can help you. Decisions are made quickly and
Swift procedure is guaranteed.
If you make your monthly repayments and pay off the loan on time, it will end up improving your credit score, and financial integrity with us at Chinmark Group.
Why haven’t you taken a loan with #ChinmarkLoans ?
Reach out to us and let’s guide you directly on how you can secure your future through the financial opportunities we offer.