The slogan on the hoarding caught your eye: “No paperwork, get loan in 7 days.” You quickly jotted down the phone number but wondered how an entity, other than a bank or a lending institution, can assist you in getting a loan.
Indeed, they are not loan providers, but are “loan arrangers”. These service providers help you secure a loan from the comfort of your home. From filling forms to submitting documents, every minute detail is taken care of by them. Here’s a look at the benefits of availing their services.
So in a way, they help you save time and ensure the process remains smooth for you.
“We basically work as an intermediary between a loan provider and a loan seeker. Our main functions include completing documentation, submitting documents to banks and ensuring that the process does not take much time. And we provide these services at the doorstep of customers,” says Surjit Singh Grover, head (e-commerce), Andromeda Marketing Pvt. Ltd, a Mumbai-based loan arranger. However, there are different types of loan arrangers in the market and you need to find one who will give you the best service.
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