CarryLoans Establish a marketplace with bidding platform for mobility of funds where interest rate is determined on real time basis based on demand, supply, tenure, risk, mortgage and collateral offered. This will reduce processing cost per file, time taken and also efficiency of bank/lenders. From borrowers’ side it will increase the number options with them and give them a bargain which they cannot get on their own accord. It will provide transparency, efficiency, reduce cost and time for the borrower
Imagine yourself wanting to buy an orange from a fruit market. But instead of you going to the fruit seller, on entering the market, all fruit sellers come to you to sell the fruits you need. The more the number of sellers, more the competition, desperate the seller, better the rates, isn't it? On similar lines CarryLoans is a loan market place which brings all different types of lenders and borrowers under one roof or platform. Here you just buy loans.
Instead of you approaching banks , interested lenders will browse and approach you through the portal and compete (bid) among themselves to lend to you. The objective is to convert the loan market from a seller's market to a buyer's market. The objective is to remove the information gap and create that perfect market condition where trades are done on the basis of information available to all concerned participants.