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|Updated||Jan 07, 2020 (3 months ago)|
International lending community, open to all.
We're an international lending community that offers responsible, high-achieving people the chance to raise loans directly from ordinary people all over the world.
Why join Zidisha?
- Open to everyone: You do not need to have collateral assets, a bank account, guarantors, or a salaried job to raise a loan.
- Flexible: You choose your own weekly repayment schedule.
- Community: Loans are funded by other Zidisha members, not banks. You become part of a supportive community of entrepreneurs and lenders from all over the world.
What are the eligibility requirements?
- Have your own Facebook account with extensive social connections.
- Have a source of income that will allow you to make repayments each week.
- Be able to secure recommendations from people in your community.
How much can I borrow?
Credit limits start small and increase with each loan repaid on time, up to a maximum of US $10 000.
What are the fees and interest?
Zidisha loans do not carry interest. Borrowers pay a service fee of 5% of the loan amount, to cover the cost of transferring and administering the loan.
Loans also carry a credit risk payment ranging from 5% to 30%, which is used for reimbursing lenders in the event of default. The credit risk payment decreases as you build a history of on-time repayments.
A one-time premium membership payment may be required in order to access higher credit limits.
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