The company is successfully changing the way people in
need of loans interact with their community financial institutions by employing a unified online application process that enables borrowers to get low - interest loans directly from community banks and credit unions.
If neither
of those options is feasible, borrowers may want to consider paying down their
loans with FedLoan more quickly in order to reduce the amount
of time that they will
need to
interact with the seemingly shoddy customer service department.
If you're going to start such a business that is open to the public, lets members
of the public
interact with
loaning their personal property and handles financial transactions, you really must have professional legal advice for all aspects
of such a business, which includes but are not limited to: drafting a TOS, advising you on the federal and state and banking laws that cover financial transactions and credit cards, advising you on state and federal privacy standards for user information, advising you on what types
of insurance you
need for your business, and advising you on the technical aspects
of the App itself.