On the verge of Bankruptcy? Think ETHLend crypto backed Loans.
In a business model set, bankruptcy is a known term for business owners and several other parties in that sector. Once in every month, at least one start-up business whether goods or services oriented is always faced with different challenges as regards manpower, lack of funds and sometimes bad planning.
Also, sometimes the well-established businesses are not left out as there might be an economic crisis which will invariably lead to price margin compared to profit causing most growing businesses to run on a loss thereby resulting in bankruptcy.
Meanwhile, whether or not there would be a bankruptcy should not be the bone of contention but the solution and how to secure funds to manage the business should be the next course of action.
Prior to the introduction of blockchain technology and smart contracts, the available option for business owners were the bank loans.
Thus, a reasonable measure to take in a bid to secure the future of such a bootstrapped business from not losing its relevancy as soon as possible. Although, it comes with several disadvantages such as;
• Ridiculous high-interest rates levied against lenders
• Lenders are requested to present guarantors after collateral securities.
• The contract/agreement signed is not as safe as it ought to be because it is prone to alteration, misrepresentation, and damages.
Due to this background and the loopholes inherent in the bank loans scheme, this was what prompted the Aave company to go the extra mile to solve this particular loan problem with the smart contracts protocol of the blockchain technology.
And their innovation was what birthed the Ethereum-base cryptocurrency lending platform (Baiji) called EthLend.io
It is a platform to secure loans using digital assets as collateral security. Since it is a decentralized application built on the Ethereum blockchain, they are affiliated with the @stateofthedapps
And you can find their application via here
It is the World's First Cryptocurrency Lending platform built on the Ethereum chain where you can pledge your digital assets for loans. Supposedly, those assets suffice as the collateral securities against your Loans.
They are a “crypto-chain bank” which serve as a source for cryptocurrency holders to borrow against their digital assets like bitcoin, ethereum & other altcoins for loans without losing out even when there is a bull market.
Furthermore, the Ethereum Cryptocurrency Lending platform - Baiji (as it is referred to) just launched their main-net recently and for further information kindly check here for their announcement.
The peer-to-peer crypto-lending platform has been created in such a way that the lender has the liberty to determine the interest rate by themselves subject to the loan rate. Aside from that, it is an avenue for buyers and sellers to operate simultaneously i.e a market space for both lenders and creators. The opportunity is open to the general public.
This initiative is the brainchild of Aave company, a technology company hinged on empowering people through invention and innovation.
The technology-based venture intends to fill the vaccum left by centralized fintech industry players such as PayPal, Skrill, and Coinbase, by introducing new products and services, such as Aave Pocket, Aave Lending (SaaS), Aave Gaming, Aave Custody and Aave Clearing.
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• The lenders/borrowers determine their own interest base on each person's loan rate
• Cryptocurrency holders are liable to access Loans using their tokens as collateral securities.
• The contract/agreement is stored on the blockchain which makes it trustworthy and transparent.
• Due to the fact that Ethlend.io is base on the blockchain technology, there is seemingly nothing to worry about as a regards trust.
• In a case where there is an increase in the value of the asset(s) pledged, the system will notify the lender.
• Only borrower and loan lender can access the collateral security from the chain.
Disclaimer: The information contained within this post shall not be taken as financial advice. I am not a financial advisor and none of your investment decisions should be carried out based on any information presented here. The information presented in this article is for educational and entertainment purposes only
Links
Press Release 1: https://www.bizjournals.com/twincities/prnewswire/press_releases/Minnesota/2019/02/06/enUK201901295900B?ana=prnews
PressRelease 2: https://medium.com/aave/ethlend-baiji-release-has-arrived-on-the-mainnet-9efb6236aa1b
Website: https://ethlend.io
StateofthedApps: https://app.ethlend.io/?utm_source=StateOfTheDApps
Our Company called tUUUdoR Initiatives offers LOANS at $10,000 --> $1,000,000 to Businesses situated on the USA territory; as fast as 1 day approval if you meet all the conditions.
Or, you also have the option to bring to us Business Owners and we can pay you 2% commission on any amount funded; for example: if we Loan 10K to the owner referred by you -- you get $200, if 50K -- you get $1,000, if 100k -- you get $2,000 and so on...
No Collateral or any Upfront Fee required.
Straight to the point and easy requirements:
(1) Minimum 500 Credit Score
(2) In Business for at least 4 months
(3) At least $10,000 Monthly Revenue
(4) No more than 3 NSFs in the last 30 days
If you're interested, the easiest way is to reach out to us at our Facebook Page, leaving a Private Message: https://www.facebook.com/TUUUdoR-Initiative-354937928677782/?modal=admin_todo_tour
Rest assured, we answer every single inquiry.
Looking forward to talk to you...