toojoin.co Review – Is it Scam Or Not?
Services of companies engaged in microloans to the population are very in demand. Each person is faced with situations where money is urgently needed, the required amount is often small, and there is nowhere to take it. A sudden illness, a debt to be repaid, a breakdown in a car or a working computer can undermine the financial stability of a middle-income person.
Even having a reputation as a frugal and practical person, it is not always possible to rationally allocate a personal budget. Sometimes a couple of hundred is not enough to pay, or a more substantial amount is required to compensate for unforeseen expenses associated with repairing a house, buying auto parts, paying for services and goods.
To take a loan from a bank or borrow from relatives – such methods can not always solve the problem. Native money may not be available, but the bank will require a whole package of documents, the preparation of which will take time. In such circumstances, contacting a microfinance organization may be the way out. In this case, a specialized online lending service will help out, which relies on favorable and transparent conditions for cooperation with borrowers.
How it works?
The essence of this business model is to provide own or borrowed funds in debt at interest. The main income is the percentage of borrowed funds that is charged on the principal amount of the debt and paid by the borrower on the maturity date.
Saving time, the ability to get the right amount to a card account without leaving the walls of the house – this is only part of the benefits that involves the use of a loan service. Given the rapid growth of official microloan companies, the market is very attractive in terms of doing business.
The most beneficial are short-term loans to paychecks. For them, the average interest rate is up to 3% per day, and for long-term microloans – 0.5-2% per day. By issuing a microloan for a short period of time, money can be repaid faster and sent to a new loan to another client. Thus, increasing profitability in comparison with the provision of long-term loans.
We offer our investors a stable and conservative income with minimal risk. Around the world, about 40% of the population at least once resorted to online lending. Such sympathy is caused, first of all, by an unsatisfactory financial situation, and insufficient awareness of financial literacy. That is why we do not have the slightest doubt about the operability of this business model.