Taking Loan Becomes Handy with these Mobile Apps

In this busy world, people are running behind machines and they keep engaging themselves throughout the day thankfully the world is becoming highly technological. Mobile apps have entered all the fields, and entering the banking sector and offering loans such as asset depletion loans is not an exception. Nowadays, apps started to offer loans to customers. Mobile apps have started to hold all the aspects of the human lives. And it seems it is fitting to all aspects and it enhances the comfort level of the users. Now, these apps help the users bank online and request loans online.

Having a lending mobile app will completely transform the small business owners’ loan behaviors. Currently, the mortgage rates are flat and in the coming quarters, they may fall. It’s important that borrowers examine their options when searching for a home loan lender. Some of the borrowers will feel comfortable and satisfied with the traditional banking process and they won’t pay attention to the benefits of online home loan lenders. It doesn’t have the skyward of brick-and-mortar locations. It has the ability to maximize the technology and speed, competitive pricing, and efficiency. Online lenders have the capacity to offer more competitive terms and they can quickly take the market share.

Key opportunities in an online company

There are five key components to look for in a home loan lender. They are as follows.

• Accountability

With an online mortgage lender, it is important to confirm an excellent online reputation. Online companies work hard to deliver what they preach to the customers and if suppose the issue arises, they will try to rectify it. They go above and below to make it right to serve the company’s commitment to customer service. 

• Competitive pricing

There are many mortgage lending firms online and there are reliable banks in every city, which increases the competition, for that borrower should do their own research to make sure their rates and fees are low as possible.

Because of the centralized, streamlined processes, costs will significantly get reduced and the saving will be passed on to the customers. The largest banks possess the centralized mortgage operations also, but they must pay the hectic of having a branch location. 

• Convenience

The daily activities of a human can be done electrically, remotely, and whenever we have time. Network Capital also works in the way. The companies have extended the operating hours and provide weekend support to ensure that the companies are available as possible as their clients require them. And it acts as the important factor for the people who are looking into buying or refinancing their home. 

• Service

In the aspects of commitments to service, accountability, and convenience, almost all the companies are committed to the excellent customer service. Basically, some borrowers will hesitate to secure a loan or finance something out of a brick-and-mortar bank, so it is imperative as an online lender. They find all the ways possible to answer all the questions that may arise during the process. 

• Speed

One of the big advantages of working with the online mortgage company is the expedited processing. With the help of the technology partners like Oracle, Microsoft, Cisco, and Redhat the company can automate their verification process while increasing their accuracy and allowing the company to close loans within the 10 business days, which is really a quite short period. The company will implement the service level agreements throughout the organization to complete the process as quick as possible.

 

The Top 4 Smartphone Apps for Banking Loans

More and more small businesses have started to seek funding and loans for the growth of their business via smartphone apps, which will help the business people to buy more inventory right away because they are confident in their workflow cycle. Here are the loan apps that will help people to calculate their loan costs, get access to working capital instantly, and pick between lenders.

SBA

SBA refers to Small Business Administration. SBA released its own mobile application in 2011. This app helps the small business owners with a variety of topics. This app has a starting cost calculator; it helps the business people by suggesting how much money he needs to start a business or to keep the business running.
This gives a perfect picture of how much money the person will need in financing from a lender. 

The app also has a finder that will help the user in locating local SBA and SCORE offices and it also provides the latest news from SBA Twitter and video feeds. It is sure that any starting or growing business will benefit from using this app because it will help the users to manage their finances organized by assets, recurring bills, and expenses. It allows the users to break down the bottom line.

Kabbage

This application helps the user by bringing the world’s easiest and fastest way to get funds. By finding easiest and faster way entrepreneurs can grow their business. Kabbage app can deliver up to $100,000 within seven minutes on the user’s mobile phone. If the user decides to use the kabbage app, it will help them to take funds and pay the kabbage bill as well as view the entire transaction history. Kabbage app has changed the way small business owners look at financing their business. 

It may take weeks or even months of paperwork and meetings but now, it has been simplified into an on-the-go app, which will give quick access to the working capital. This app is the best way for the service industry businesses, which have the demand forever. The businesses such as spas, salons, auto shops, and restaurants are very labor intensive. Keeping the working capital on the go is a great thing for the business owners; it allows them to get a loan while going for their day job.

SmartChoice Loan Calculator

SmartChoice Loan Calculator is a smartphone app that is highly helpful for the small businesses. It acts as a guide for the owners who are looking to expand their commercial properties. This app answers the frequently asked questions within a few seconds. Users who want estimate for the down payment, monthly payments, and interest rates can use this app. It guides the users in their interest rates and helps them to compare all their loan options. On the whole, this application can save a lot of time by comparing loans and giving access to more small business financing resources.

Finan%

This mobile application helps the users to calculate 10 most common operations, deposits, and loans and it can coordinate with any bank that the user uses. This is not a free app; users have to pay $3.99. Ultimately, it helps the users to find out their interest rates of the operation it can be annual, effective, or even effective per period, it should be less than a year.
This app helps the user to deposit into any account under a simple interest or compound interest scheme with interest. Users can seek for a loan with constant quota. This is really a great app for technological and financial businesses. These two businesses are constantly investing their money and they have to calculate an operation with the existing data. 

In this mobile world, financial institutional are trying to catch on the fact that small business needs constant access to all their financial options it includes the calculators and resources to help the users to choose the best options when it comes to the matter of funding.