Lender

We know that you are in the business of lending and have been trying various means to lend responsibly to customers. We also know that security for the monies you want to lend is important and it doesn’t matter the size of your business or whether you are a Micro finance company, Credit Union or one of the many traditional lending institutions, the solution to your many challenges as it relates to movable collateral is now history.

Our Collateral Registry is designed and implemented to be used by lenders of all kind and their customers alike. Safeguard against risks are now simpler for lenders who have always wanted to issue small loans and used Movable collaterals such as but not limited to machinery Appliances and electronics. A module for inventory is on its way and once it is implemented, companies will be able to use their inventory as collateral for loans.

Currently, Many lenders believes that their loans are secured by customer’s movable collaterals but if a property check is to done, they would realized that they are exposed as if there were no pledged collaterals. The fact is that many of the Movable collaterals used to secured loans are owned by other persons to include Hire Purchase Companies and not the persons who have pledged them as collaterals;

Appliances and other form of collaterals are mostly accepted by Micro Finance Companies, credit Unions and some traditional financial institutions that have subsidiaries that specialize in micro lending and the hidden lost of income is enormous, lenders are afraid to make it public but thanks to our system, within a few years, there won’t be much of a lost as a result of multiple lien holders of the same movable collaterals.

Appliances and electronics that are on hire purchase agreement are no longer free to use as collaterals as long as Hire Purchase companies register their interest in their items. Motor Vehicle that are registered at the Tax Department are not totally secured from unscrupulous individuals as our research as shown that some lenders thought that their interest in the Motor Vehicle were safe until they have recognized that their lien were removed by unknown Agents of the State, hence the Motor Vehicles were free to be sold or were sold to third parties.

Now, with our system along with the Tax Department, lenders will be safer as once items are registered on our system, it will take the programmer to erased an item from our system and our server is located in a secured environment and free from most employees. A lender however reserved the right to remove his company’s interest from the collateral but not to erase an item from the system.

With our collateral registry, borrowers are unable to use the same item within the same period to secure loans from different lenders. Example, if the collateral is used at lender A, once it is registered it can’t be used at lender B. Lender B will ask the customer to use another item, or using the information now available, both lenders, if they desire can join to use the same collateral. The difference is that both lenders will have full information about the risk and collateral that they intended to use.