Crypto-asset lending company Pledge has just collaborated with 247pro.com to offer home improvement loans to homeowners that hold cryptocurrencies. This is a godsend to homeowners as the purchasing of a home is already a huge investment on its own.
Applications for home equity line of credit (HELOC) or other bank loans involving credit checks typically take months before they are approved. Homeowners can bypass this lengthy process by applying for this loan instead.
For Pledge, loans can be funded in less than 30 seconds. Borrowers do not have to fill out any loan applications, we won’t be doing any credit check or underwriting. Everything is automatic with smart contracts.
Tony Y. Chan, CEO of Pledge
Pledge’s service enables the clients of 247pro.com — which are construction companies — to launch programs such as “Remodel your kitchen with 0 down” for their clients.
Pledge and 247pro.com will also be connecting POS (point-of-service) loans to blockchain technology, which works as a “one-stop shop” for those wanting to sell their crypto assets to fund their POS loans for home improvement projects.