Now looking for bailouts, as if as easy as turning a hand, even looking for alternatives/diversification of investments. In fact, the financial technology platform (financial technology/fintech) is like an ant in the middle of sugar crushing. Because competing to take the sugar, not a few platforms that do not heed the regulations that have been determined by the Financial Services Authority (OJK). The victims are lenders or borrowers. In fact, not a few who get treatment outside the normal limits when billing.
In order to keep fulfilling the bailout funds to cover the shortfall, or the investment that was profitable not stumped, then just go to Acceleration!
Why So Many “Victims” of Online Loans?
Online loans that are illegal and have become viral until there are victims are very clear difference with the business model that Lite Lending is undergoing. First, online loans that were viral, were generally consumptive and usually these loans caused more victims. The reason is because of consumer loans for secondary needs. Meanwhile, the Acceleration is a Peer-to-Peer (P2P) Lending fintech that distributes productive loans. This means that the loan is used to produce more than what the borrower already has or to develop his business. Second, in terms of nominal, online loans range from $1 million – $10 million. If the average loan acceleration is $ 500 million – $ 600 million. Why is it bigger? Because Lite Lending provides loans for businesses. Third, interest is directly proportional to the level of risk. Consumptive online loans, the risk is higher because if the borrower does not have a fixed income or a plan on how to repay the loan, then it is very possible the higher failure rate. While productive online loans or business loans, when you want to borrow already know what will be used? and how to develop its business ?. Also, be aware that productive loans do not mean there are no risks at all, but the risks can be measured.
So There Are No Victims, How To Accelerate Billing?
Acceleration has Standard Operating Procedures (SOP) regarding everything, one of which is about billing. Lite Lending has a collection that is expert in the field of collection. So if there is a delay of H + 1 to H + 90, the accelerator will carry out mediation and discussion, why is the problem? Why the delay? Was it intentional? Or is there a disruption in business ?. The next stage asks for commitment from the borrower, when and what kind of solution ?. Then, the Acceleration will monitor regularly with the borrower. If 90 days have not been paid, the next step is to appoint a lawyer to take the next step. The unique portfolio in Lite Lending is more than 90% backed by invoice financing. This is what distinguishes Acceleration from similar companies.
What Principles Have Been Done Regarding Consumer Protection?
Transparent. Why? Because we operate on both sides, the borrower and the lender. The accelerator must transparently explain at the beginning, such as explaining the costs that will arise when the borrower wants to borrow. Then explain what must be completed and finally if there is a delay in paying, what risks will be faced.
Lite Lending also explained transparently to the lender since he first wanted to invest. As it explains what costs will be deducted, in the event of late payment from the borrower, the Accelerator regularly provides the lender with up-to-date information. then submit information regarding payment issues and the borrower’s next steps.
Because Lite Lending already has ISO 27001, the data borrowers and lenders at Lite Lending are certain that the data is safe and not easily accessed by unauthorized persons, so that data abuse is certain to not occur.