Has anyone of you guys heard of LENDDO? I want to know your input as I just joined and am trying to figure out if this is legit.
The site says that you have to do four steps before your loan can be approved:
You have to:
- register for lenddo
- add your social media
- form a trusted community
- fill out the loan application form
Has anyone here actually gotten a loan from this site? Moreover, I included some details posted about it on Freeman which is found below:
Lenddo is an online platform that empowers the emerging middle class to use their online social connections to build their creditworthiness and access local financial services.
Founded in March 2011, the Lenddo community has tens of thousands of members, and member growth continues to double every 60-90 days.
Lenddo give out loans for specific life-improving purposes only, such as educational or medical needs; career-related training or relocation; home repairs; small business set-up or expansion; and debt consolidation. Interest rates are generally between 0.99% and 2.49%* a month, depending on the “creditworthiness” of a borrower. Lenddo.com.ph is found online; one can fill out a registration form and loan application form from any place where they connect to the Internet. The company’s community managers assist members and coach loan applicants through the loan process. Loan approval and funding usually occurs within 1 business day, if the member completes all requirements.
To apply for a loan, members must establish a ‘trusted community’ of family, friends and co-workers at Lenddo.com using their social networks and email to connect people. When they need a loan, members apply online in the Lenddo.com.ph platform in a process that takes less than 10 minutes. A decision is made within 1 business day based on the strength of their community and the details in the loan application.
Any input you have about this site is extremely helpful and will be appreciated.