Alternative Capital Limited Loans
Alternative Capital Limited Loans
Alternative capital limited is an online credit based application that offers loans to its clients, for one to enjoy the services being offered by the company, they have to download the application into their phones and also to ensure that they have filled in the required requirements to ensure they are credit with. Through providing the data such the national identification number, the firm can track ones financial details to ascertain their credit worthiness and also their past financial performance. Also one can fill their details in the company’s website.
Once the details have been submitted to Alternative Capital limited, the firm can go through the information and the option of depositing the funds such the client’s bank of preference. Some of the details include the amount of money one is borrowing and the time frame they want to payback the funds. Important is the personal information to confirm the age and the email address for purposes of communication.For one to qualify for the loan they need to have attained 21 years of age and they have been born and raised in Kenya, most importantly they need to demonstrate that they have a viable collateral for the loan being applied for to ensure that the investment is secure and the credit will be paid back. Once the conditions have been meet, the application can be made through the company’s website by filling out the information needed or by visiting one of the sale outlets for the application. The access to the funds is fast as the money is deposited within three hours to the clients account, this is done through either mobile banking or mobile money transfer which is most convenient.One has to agree to the terms and conditions being outlined while borrowing the money, this includes the interest rates on the money being borrowed, which is dependent on the amount of money being borrowed and the period of repayment. The duration of paying back the money with Alternative Credit limited is within one week and sixty days. This is deemed sufficient time to reap back the profits.
In the event of defaulting, the company has contracted debt collectors to recover the outstanding amounts from the clients, however in the event one has delayed for a long time on repayment their details are forwarded to the Credit reference Bureau and they are blacklisted from borrowing money from other financial institutions.Advantages of Alternative Credit Limited;Quick response from the company when borrowing and paying back the loan.Flexible and low interest rates being charged on the funds borrowed.Disadvantages of Alternative Credit Limited;Lacks of outlining in detail the terms and conditions of borrowing the funds.High interest rates on the funds being borrowed.