E-loan

Enabling SME's access to loans and loan defaulter tracking for financial institutions.

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Inspiration

A lot of SMEs face the challenge of accessing finance and credit especially from financial institutions such as banks. This happens mostly because of lending conditions given to them such as collateral for the loan. On the other hand, financial institutions face the challenge of tracking loan defaulters.

What it does

E-loan acts as the middleman between SMEs and financial institutions. It enables SMEs to upload a business registration certificate that acts as verification to receive a loan. In addition, information such as the business location is required while filling the forms. The app has also put into consideration, home-based businesses by enabling them to input their home addresses in place of business location. These very details work in favor of the financial institutions whereby they can use the location of the business to track anyone in the case of loan default

How we built it

Web app; The project was built using HTML,CSS, and Javascript (front end), PHP(back end), MySQL(Database), and Microsoft Azure where the project was hosted.

Challenges we ran into

With the whole group living in different countries, under different time zones, meeting to discuss the progress of the project was not easy. Despite that, we were able, through sacrifice to agree on specific times to meet discuss what had been done, needed to be done, and was being done.

Accomplishments that we're proud of

We are proud of ourselves for being able to build both a mobile and web app that meets our objectives. Our objective being build apps that meet their functionality. The two apps are able to cater to different people depending on their preferences.

What we learned

  1. Time management- The duration of the project was short but we still managed to do everything we set to do.
  2. Collaboration -Being able to meet people for the first time but still being productive

What's next for E-loan

Since we created the app to cater for two countries at the moment, we want it to be adopted in many other countries and have it integrated by more financial institutions.

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