Small businesses often take the biggest burden from financial sector. Not only they have to deal with financial hardship and cutthroat competitive atmosphere, they have to deal with difficulty of getting business loan for their business development. However, what if they can join a platform where everything is made easier and possible, especially for chances of getting easy loan without high interest rate? This is the basic idea of Fintrux platform, a place where investors and business owners can interact.
Ideas behind Fintrux Creation
In most cases, small and medium businesses take the biggest toll from difficult banking system where they don’t get direct access to financial assistance. One of the major reasons is because of trust issue. Investors aren’t really sure that borrowers would be able to return their loans. However, business owners are sure about their capabilities in using financial resource to expand and return their loans. It is the trust issue that needs resolving.
That’s why Fintrux is created, designed as online platform where lenders, borrowers, and rating agencies can get together. It is set up as a lending marketplace where everyone gets equal chance and opportunity, focusing on small startups and businesses. Rating agencies inclusion is needed so both borrowers and lenders can get suitable reputation. Reputation for borrowers is needed so investors (lenders) know which one to trust and which isn’t. Reputation for lenders is also needed so borrowers know which loan providers have clear agreement without any intention to manipulate them. After all, it is not only the borrowers with ill intentions – some lenders also have shady intentions.
Identifying Some Traditional Problems
When dealing with traditional borrowing and lending transaction, there are some common issues that may arise. The most common issue is the requirement for collateral. For small business, it is difficult and complicated because they won’t be able to develop, let alone expand their establishment. Fintrux tries to deal with this issue by providing loans without collateral. Lenders won’t have to worry about their borrowed money because they are sealing the deal through transparent platform.
Another issue is that traditional loan providers set up a lot of requirements, such as clean or good credit or clean financial history, for borrowers. It won’t be easy for businesses, especially those having to struggle with their production. Although some providers offer loans without security or collateral, they charge high interest rates. It creates another problem for small businesses. That’s why Fintrux provides a simple platform with all needed features and technologies. Because both lenders and borrowers have their own rating system, they can be verified as legit entity.
High interest rate is another common problem in traditional finance. Not to mention that terms can be suffocating and impossible. In Fintrux, however, middle men are eliminated, so lenders and borrowers can have direct interaction and communication. Without these middle men, rates can be reduced. With this platform and its transparent system, trust is regained, eliminating the needs for high interest rate. Lenders won’t be able to cheat by offering silly terms. Their service will be rated, reducing the possibility to do something manipulative or cheating.
Besides the transparent system and open economy, the usage of special token has improved token adoption to its community and platform. Also known as FTX token, it becomes the center of every transaction, including reward and payment. In terms of supply, everything in its network is paid with this token. In terms of demand, both lenders and borrowers use this token as transactional fee. It is more about using its platform for transaction. In terms of accessibility, platform users won’t have to pay anything upfront to use the platform. Users have to pay for a certain fee only if they unlock their access to platform’s services.
Investors are also given a chance to invest their money by buying FTX tokens. During this special period, value of FTX token is still low. After the launch, however, its value may increase. If this platform is getting more popular, it is a guaranteed that FTX token’s value will skyrocket, creating an opportunity for investors to generate profits.
The decision to make smart investment lies in everyone’s hand. It is up to them to take part in this platform’s development or sit still waiting for its chance to pass. With clever arrangement of Fintrux, this platform has promising future for helping people.
For more FintruX Information Visit Below :
Official Website ( https://www.fintrux.com/ )
Whitepaper ( https://www.fintrux.com/home/doc/whitepaper.pdf )
Telegram Group ( https://t.me/FintruX )
Twitter ( https://www.twitter.com/fintrux )
Facebook ( https://www.facebook.com/fintrux )
Bitcointalk ANN Thread ( https://bitcointalk.org/index.php?topic=2286042 )
Bitcointalk Bounty Campaign ( https://bitcointalk.org/index.php?topic=2101606.0 )