Shield Finance is a microfinance institution which offers loans to its members who need access to funding for various projects and personal uses. The need for cash urgently and with little supervision and paper work which has been the norm with the banking sector has been brought about by the access to technology and internet which has brought about an equal playing field in both business and also in access to services to the market.
In the case of Shield Finance the need to fulfill the needs of the market to access funds through their mobile phones brought about a big step in realizing of dreams and also growth of businesses as they sought to meet the shortage of funding from the government sector and also due to the strict programs and demands from the banks. Thus Shield Finance offers loans to its members through an online application whereby they fill in their details in the provided options the company gets to assess their credit worthiness and the money is deposited in their phones instantly.
For one to apply for the Shield Finance loans, they need to register with the company online, this is very necessary to ascertain that the members have agreed to the terms and conditions of the company and their policies.In addition to that, the need to ensure that the authenticity and safety of those making of the application is genuine and not fraudulent. The safety of the account holders is very essential especially with rise of cybercrimes and vulnerability of private and confidential information.
Once a loan application has been made there is the option of confirming that they want to take the loan or could be the application was made out of a mistake, this ensures that one has the option of having to reassess the need for the funds this includes salary advances or funds to increase the stock for their businesses. The freedom to use the money one gets as they please is a big input unlike with the microfinance companies which one has to outline the uses of the money borrowed.
Mandatory requirements for one to borrow money from Shield Finance is very elaborate, one has to have a smartphone in possession in order to access the online application and the internet. A national identification number to ascertain that they have met the required age for accessing loans.
Advantages of getting loans with Shield Finance application;
Disadvantages of getting loans from Shield Finance;