Against All Odds, LendInAsia’s Approved Loan Amount Reached Its First USD 1 Million

LendInAsia leapt over all hurdles during the coronavirus pandemic and reached a new height. While strictly adhered to prevention and control measures, its project team which is working from home managed to promote its developments of intelligent management systems with a positive momentum. This ensured that its key projects could smoothly launch and operate during this tough time, with the goal of facilitating transformations and sustainable developments of the private loan industry.

Loan platforms that are endorsing LendInAsia’s technical developments and support continued to go online and successfully realised automations of loan applications, approvals, and disbursements. At a tender age of five months, LendInAsia has established a series of loan management systems and platforms. As of this month, these platforms supported by LendInAsia have already approved a whopping loan amount of USD 1 Million!

Based on internal statistics, loan amounts are distributed to borrowers within 25 minutes on average. In short, upon applying for a loan at any of these platforms, approved loan amounts of applicants will be credited to their bank accounts within half an hour. In addition, LendInAsia’s intelligent loan platforms have average numbers of 2,000 applicants and 500 approvals per day; the latter is an approval rate as high as 30%. These solid facts and data are the very reason that LendInAsia is enjoying the title of Southeast Asia’s Most Efficient and Fastest Technical Support Team.

Since January 2020, the Asian region has been hit by the first wave of coronavirus infections; many countries were forced to press pause on their economies. With cash flows suddenly collapsed and banks tightened lending standards, LendInAsia went through all the blood, sweat and tears to supply more advanced applications and technical support for the private loan industry. Via its microfinance loans, LendInAsia allowed micro-, small, and medium-sized enterprises and families to maintain normalcy in their operations and lives as well as ease negative impacts of economies.