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How to create a loan lending app   General Discussion

Started Aug-3 by Sovchenko; 148 views.

From: Sovchenko


Today you can borrow money from almost any bank. It can give you a large sum at a specific interest rate or provide you with a credit card for daily use. Anyhow, many people use these services and sometimes it can be very convenient. But even 10 years ago you had to visit the bank , stand in a queue etc. In other word, waste your time. It was not convenient but people had no choice. However , now there is a very good alternative for now. 

P2P lending websites and apps make it possible to lend money simply sitting in your armchair. These apps are becoming pretty trendy in the FinTech world. Would you like to find out how to arrange P2P lending app development services? Stay with us and we will show you how interesting this process is.

 Now let's discuss what you should do first if you want to create your own P2P lending app. How to create a money lending app?  The process won't be easy and fast but the result is worth the candle. 

Start With Registration Form 

You need to choose how to register a legal entity. That is why you need to choose what type is more appropriate for your business. 
• For example, if you register your legal entity like a corporation or LLC (limited liability company), you will protect your business against creditors if any force majeure or bankruptcy occurs.
• If you choose a corporation form, then mind that corporation implies more requirements than LLC like tax reporting/accounting. 
• In LLC profits and losses are distributed according to the agreement, whereas a corporation should perform it following the share of ownership of each participant. 

Register Your Business Name 
As it is a financial structure, you must choose the necessary service and register as an entrepreneur. You will need to follow all governmental requirements in this issue in order not to break the law if you are looking for ways on how to create loan app. Also, don't forget that your business name shall be absolutely new to avoid repeated names of peer to peer lending companies already registered in this system. If you create a business in the USA, then make sure that the name you want is free on uspto.gov. And brand name must be different from the domain name. The domain of your platform should be rather short and memorable, and, of course, it must be unique. The cost of domain registration may vary from $20 to $100, and higher. Everything depends on the value of the domain. Consider it during loan lending app development.

Read more on Cleveroad.


From: smmworld


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