Business

May 2, 2016 at 10:21 am

Meet your credit impediments with the aid of moneylenders!

If we are not too much into banking activities and are facing an urge of money then moneylender comes to our rescue. Money is the need of the hour and we may require it any amount and at any juncture. A moneylender stands at a niche where we have to gather help from him in very unpredictable cases. In the modern century, many real estate businesses are into employing the help of the moneylender as it appears to be a more lucrative deal for them.

Since the ages, moneylenders have played several lucrative roles and continue to do the same in the present era. They are considered to be one of the finest credit providers by many people and so their position continues to remain on the prime post. So let us comprehend the role played by the moneylenders in relaxing the credit constrictions:

  • Timeliness- A meritorious factor! You can get access to the credit at point of time when you pay a visit to the moneylender as they store the money within the walls of their home. You do not have to fabricate a catalogue of reasons for which you are borrowing the money as long as you provide them with a sturdy foundation of its repayment.

moneylender

  • Lithe in contract and collateral type- For a house hold with low income inflow or if there is a case of inconsistent cash flows, the financial services must be made flexible but this is not the case with the eminent financial institutions. In this case, the moneylenders come to the rescue of rural and urban underprivileged. They stay in a proximity arena of the borrower and can establish constant contact with them. This happens to brings down the conventional collateral. The accepted collateral may include the following: agricultural land, food grains, et cetera and all the other mobile and immobile assets. The rendered loan is usually of short term and aids in meeting the consumption requirements faced by the deprived lot.
  • Elasticity in reimbursement- Moneylenders offer the doorstep recollection facility. Apart from this, they also offer an option of payment in the form of ‘kind’. Payment in the form of kind may include supplying services (labor) while payment can also be made in the form of commodities (which may include farm produce as well as other products).

A big hue and cry must not be created when it comes to borrowing money from them.    

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