When financial needs arose in the past I used to always set as one of my options, using a credit card or getting a fast cash loan. But after experiencing some financial setbacks and eventually freedom from the control of lenders with the help of my reliable wife a.k.a finance manager, applying for a quick cash loan has become the least of my options during sudden financial emergencies.
But as a last resort, I would probably utilize the services of Lenddo.com which is like a social network-dependent site that gives anyone his or her credit score based on their online social network. Any person who signs up can increase his or her "Lenddo score" by providing access to your online profiles in Facebook, Yahoo, Google and LinkedIn. As the member builds his or her own Lenddo community, attends a class online about becoming financially responsible and successfully borrows from and repays Lenddo, his or her Lenddo score also increases, as well as the community he or she belongs to. Having a higher score gives the member more access to financial products such as student loans or business loans in the Philippines available at Lenddo but limited to the purposes of home improvement, education, medical emergencies and career-based relocation.
Aside from having a high Lenddo score, what a member actually needs to have are a job, SSS number, a TIN, the right purpose for the loan without any collateral except their online reputation. This kind of service is first of its kind and because it is unique, I think it will catch the interest of many. Most loan service sites do not operate the way Lenddo does. I like their idea of an online scoring system which has a lot to do with making their financial products available. To learn more about Lenddo.com, feel free to browse the slide presentation below.