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BOSEA MICROCREDIT LOAN ELIGIBILITY

Emergencies can strike any person, no matter your financial standing. These emergencies are often not expected, but need to be dealt with by a certain degree of urgency and you must be prepared financially for this circumstance. In order to be financially safe, Bosea loans, which is among the most well-known methods of financing today, that offers instant approval and a speedy payout feature, is easy to obtain.

Is your profile eligible to obtain an account with Bosea Micro-Credit?

Bosea microcredit examines the eligibility of a borrower prior to approving the loan. If the borrower meets the requirements, he or is eligible to benefit from of our product (Bosea Flexible and Bosea superior). The credit score of your, your repayment history, job status, education level/degree and social media activities, and so on. are all factors that can increase your loan’s eligibility. We evaluate credit scores of people by using data from smartphones. As a result the approval process is swift and offers the chance to improve credit despite the history of their bank.

These loans are secured loans which means that there is no security or collateral required to get a loan. Therefore, it is essential for the company to consider the credit score of borrowers who are more secure.

If you have a credit rating that is not high then you must improve it. If your score is lower, you have greater chance of rejection or even denial because your credit profile is risky and therefore, you are ineligible for loan from Bosea. For new customers having a high credit score is achieved through:

Make sure you take your application to Bosea seriously. (More than 30 percent of loans rejected do not consider your applications seriously).

* Representing information that is true and legitimate.

• Providing evidence of a legitimate reason for using a loan A loan should not be used solely for the sake of having fun. They should have a purpose and directed towards an appropriate course. Examples include medical bills tuition fees, or the cost of hostels rent payment…

* A clearly defined payment plan: A clearly defined repayment plan makes the lender less prone to risk when extending loans to an individual.

Note: References must be included: References are essential to the eligibility of loans. References are usually family members or close relatives. References are not guarantors , therefore they are not liable for loans and are not accountable for loans. They are not contactable till the debt is in default.

* Payslip or proof of employment or school connection:With digital loans, the task of identifying the borrower lies on the potential borrower to prove. A proof of association is generally utilized by lenders, not only to assess the possibility of repaying, but it’s crucial in the recovery of loans that fall into arrears. The submission of documents to prove the proof of association, be it for a worker or a student assists lenders like Bosea take quick decisions regarding the loan you’ve taken.

With digital lenders such as Bosea with the goal of democratizing credit. Potential customers should be aware of the different ways to be eligible for credit that will allow them to get fast credit when they require it most.

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