TORONTO--(BUSINESS WIRE)--At Concord Lending, we offer a fresh take on making credit more affordable, transparent and convenient. With this philosophy in mind we’re proud to introduce Concord Line, a flexible, modern and innovative way to borrow money.
Instead of pulling applicants credit, we use our advanced analytics to assess each applicants cash flow based on their bank account history, reducing the negative impact of credit seeking on the applicant. After we perform the assessment, we pre-approve the applicant for up to $1000.
The borrower may then choose to request any amount they need up to the full pre-approved amount. The requested amount is deposited in the borrower’s account within three days. The charge is only a 5% transfer fee on the amount requested. The Borrower has until the 25th of the next calendar month to repay. Should the Borrower be unable to pay on time, for any reason, they’re billed a $10 fee on the 25th of the following month until the balance is paid. Once the balance is paid, the Borrower may request more funds at any time, up to the original pre-approved amount, without having to go through the approval process again. Concord Line is always available to them.
Concord Line seamlessly replaces such high cost lending options such as high interest Credit Cards, and bank account overdrafts. It can help avoid costly NSF account charges and is handy for last minute purchases. The entire money management process is handled via SMS text messages. Borrower may text commands into the Concord system to pay off a balance or request more money. For example, text PAY and the system will automatically send back confirmation, stop late charges, and bill the balance to your bank account on the nearest 25th. Should more money be needed, a simple text GET followed by an amount required, will get the funds are transferred to a bank account within three days.
Concord Lending is committed to making borrowing more approachable for Canadians. We combine advanced technology with revolutionary decision-making tools in order to create a friendly, cost-effective and efficient borrowing environment for our clients. Reach out to us today to learn more.