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 for the applicant. After we perform the assessment, we pre-approve you for up to $1000.
At this point you may choose to request any amount you need up to the full approved amount. The requested amount is deposited in your account within three days. You only pay a 5% transfer fee on the amount requested and have until the 25th of the next calendar month to repay. Should you be unable to pay on time, for any reason, you’ll be billed a $10 late fee on the 25th of the following month.
Once the balance is paid, you may request more funds at any time, up to the original approved amount, without having to go through the approval process, the Line is always available.
The 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 changes and is handy for last minute purchases. The entire money management process is handled via SMS text messages. Send text commands into our system via their mobile phones to pay off their balance or request more money. For example, text PAY to our portal and the system will automatically send back confirmation, stop late charges, and bill the balance to your bank account on the nearest 25th. Should you need more money, simply text GET followed by an amount required, and the funds are transferred to your bank account.
The Line is a revolutionary approach to borrowing that will render such unsavory lending options such as payday loans or high-interest instalment loans obsolete. Concord Lending is committed to making borrowing approachable and transparent and the Line is a major step in that direction.