dhanaX partners with recognized microfinance organizations, rural technology centres, NGOs and credit societies committed to economic development of the poor. They are appointed as agents by dhanaX.
These agents help identify and establish credible borrowers.
The agents do a thorough study on the credentials of the borrowers and their enterprise. They also determine the ability of the borrowing party to honor the repayment of loan.
The requirements of the borrowers and their credit profile ratings are posted on dhanaX.
A registered lender with dhanaX goes through the borrower information and chooses one or more borrowers to lend to.
The lender agrees to the INTEREST quoted by the borrower and the repayment term.
The lender deposits the loan amount in to his dhanaX Wallet and dhanaX starts the lending process.
dhanaX through its agent network collects monthly repayments, including the INTEREST from the borrowers and deposits in to lender's dhanaX wallet, till the repayment term ends.
The lender withdraws his money from the dhanaX Wallet or chooses to lend it to another set of borrowers.