What's new

How can I start a loan mobile app

Nurudeen

Ledgendary Member
5000+ Posts Club
Nov 15, 2020
15,097
270
USD
$0.0000USD
Biznotes
0
Have stumbled on different loan apps offering interest loan to business owners and entrepreneur, my question is how do they get the money they give people and how can one design the app
 
Have stumbled on different loan apps offering interest loan to business owners and entrepreneur, my question is how do they get the money they give people and how can one design the app
Getting the money is not difficult since it's their capital just like financial institutions. Apps are developed like other financial services app. You need to be licensed to start one.
 
Starting a loan mobile app is not a problem. But, you need to seek a clearance from the government of your country to start a microfinance Bank. Through that, u will access customers BVN for verification. Then a lots of simple preparation will follow.
 
Your headline is funny. Lol

Well, people that run loan app has investors. Don't think it's a one Man business bro.

If you have the idea, draw your business plan and then seek investors
 
Starting up a loan mobile app won't be an easy task as you are sure going to waste a lot of resources for it, from going to the government to take permit to meeting an appropriate developer to help you create an app for it, it's sure won't be an easy task.
 
I believe that the money they give to other people is because they have it personally by inheritance or savings, or failing that, they are companies established for this purpose. To design the application you must have knowledge for that or hire a professional to do it for you, I do not think it is difficult if you have what it takes to start.
 
To start a loan mobile application, you will need to first of all employ the services of an application developer that will develop the application for you then you register your business name with the government and the relevant government agency that licence financial services.
 
Anything that requires finance should be done carefully. You should get a developer to design the app and do all the legal processes. Then you can contact people who are willing to inject their monies into it and gain small profits.
 
You need huge amount of money for that, you need an app, and it will cos you money to develop it, even when you're a developer of an app. You need people to borrow and pay on time, if you're owed too much you'll run bankrupt.
 
When using this loan mobile app to apply for a loan you are required to put your ATM pin and also your 15 digit of a ATM card this will enable them to withdraw the money directly from your account with or without your consent
 
Having a loan app is like saying you are offering financial services to the public like the banks do. You will require official clearances for the central bank to operate your app in that country
 
A loan mobile app is an app that would require quite a lot of legalities for it to materialize. After getting it, then you set up the app. You would then look for people who are willing to lend out their money .
 
Yes it is very possible to start a loan business app, if you have money to design your own application and go through the rigour of doing thr necessary registration with the bank and again you must have enough funds. But as regards where they get their money to run the business I dont know.
 
A loan app is basically created by a financial institution like banks that will help the person willing to get a loan to check whether he/she is eligibility for the loan, once he is eligible he can apply through the app and get a call from the financial institution.
 
Have stumbled on different loan apps offering interest loan to business owners and entrepreneur, my question is how do they get the money they give people and how can one design the app
Designing the app is not the issue, you can get a programmer to do that. The issue is the money to start and system management.
 
A loan app is basically created by a financial institution like banks that will help the person willing to get a loan to check whether he/she is eligibility for the loan, once he is eligible he can apply through the app and get a call from the financial institution.
Yes even with that there are some private organisation that also give out loan to people who want to start small enterprises ,but it will require a lot of money either thinking of making profit with this type of business.
 
To design the app is not the problem ,but the only problem is the capital to start the loan business online, loan business is one of the best lucrative business online.
Have stumbled on different loan apps offering interest loan to business owners and entrepreneur, my question is how do they get the money they give people and how can one design the app
 

Newest Directory Listings

WWE Hub is a discussion forum for all things wrestling! Share and chat with other wrestling fans throughout the world!
momode
Forums
Clicks
1
Views
7
ABCProxy is cost-effective, ethical residential proxies network!
coderway
Forums
Clicks
3
Views
27
AI digital artwork generator
Back
Top