How can I start a loan mobile app

[Ghost1]

Have stumbled on different loan apps offering interest loan to business owners and entrepreneur, my question is how do they get the money they give people and how can one design the app

You can design the app if you have knowledge about how to create apps or just pay somebody to. It's for those who has money already to loan

 

[Toyoabasi]

Have stumbled on different loan apps offering interest loan to business owners and entrepreneur, my question is how do they get the money they give people and how can one design the app

I don't have any idea on this.
However, I will follow up this particular thread for good responses.
I would love to know more about this too! Lol.

 

[joy101]

Starting up a loan mobile app business is really but you need to have huge of money in order for you to start up the business, because those that is doing the kind of business are doing well.

 

[Kunkun]

Yeah indeed the loan business is indeed a profitable one and that's the reason more and more apps are coming out, when thinking of doing the same, building of the app would require a programmer

 

[Kubiat-Abasi]

The first thing is, you have to register and be licensed. Also most people that are into this loan business actually have a lot of investors in the long run.

 

[Dagm1]

This could be tough and expensive, and it will require you to create an app that users can subscribe to.

 

[Godspower]

I think you will have to obtain clearance and license from the government financial agencies before you can even begin. Getting a website or an app developer to design the application should be the next step, while employing customer care representatives and other staff will follow.

 

[Sincerem]

You can download branch loan app, they are one of the best since you're from Nigeria. But you should know, you'll settle in for 20% repayment charges.

 

[Toyoabasi]

The first thing is, you have to register and be licensed. Also most people that are into this loan business actually have a lot of investors in the long run.

I have heard of many loan apps like easy money. What you have to do is get an expert to design the site for you. Advertise your business, and the customers will start patronizing.

 

[joy101]

Actually starting that kind of business you need enough of money to start the business, a loan app business is really a good business but is very risk.

 

[Smiles20]

I can tell you that starting a loan mobile app is a very good one but then it is something that you are going to have to deal with a lot of legalities and you will definitely need a lot of money in order to start it.

 

[Justin]

I don't know how it goes in other countries, but in my country you need a licence from the central bank to provide financial services including lending and collecting funds. The loan apps are controlled by the banks in my country.

 

[Ghost1]

Have stumbled on different loan apps offering interest loan to business owners and entrepreneur, my question is how do they get the money they give people and how can one design the app

How to get the money to loan? Its quite easy they have their money probably saved up from former investment. If you don't already have money I would advice you shouldn't go for it if there's no money

 

[kinqzbitz]

I know that it is Normally created by banks but then I also know that individuals can also do this but then I just don't know how they go about it and that's all I know

 

[Sincerem]

There are so many information and things you would like to know before engaging in this business to avoid regret. Instead of this business , I'll rather advise you to look for something else since you are not a bank.

 

[Shigobad20201]

Starting a loan mobile applications is quite easy and its a good and lucrative business which many people are doing nowadays , you just need to designed your app and registered your business.

 

[Kane]

Running a mobile loan app is not something like creating an app, publishing it on Apple store or Play store and they start making money. You first need to get a license from the central bank in your country and financial authorities as well. You also need a lot of money for the liquidity. If you have followed the formalities, you can hire a developer.

 

[Bala45]

Loan app is a place where money is been borrow for a short or a long period of time. Loan is a financially institute which enable individual borrow and pay back loans. To start the business you need to get a lot of capital which means money to start

 

[Good-Person]

Running a mobile loan app is not something like creating an app, publishing it on Apple store or Play store and they start making money. You first need to get a license from the central bank in your country and financial authorities as well. You also need a lot of money for the liquidity. If you have followed the formalities, you can hire a developer.

I would never venture into this kind of business. Creating mobile loan apps and offering loans created a lots of problems for many people. Such kind of loan apps are also illegal in our country. Many of these applications are quite controversial. It is believed that such kind of applications hack the data of applicants when the applicants download the app. They then misuse the data.