SEC: declares ECRID S-1 in force.
Posted: October 15, 2021 at 8:13 a.m. EDT|Update: 10 hours ago
STUART, Florida, October 15, 2021 / PRNewswire / – ECRID (OTC: ECDD) is the new credit bureau (www.ECRID.com) that offers each member the ability to create their own personal ECRID credit report with both conventional and non-conventional creditors they paid on time to validate their creditworthiness (including rent payments) to lenders. Every credit report holder starts with a perfect credit score of 950.
ECRID, the new credit bureau that gets you approved for home, car and personal loans.
An ECRID executive said: “We are extremely excited and excited to prepare to launch one of the most exciting and innovative fintech lending platforms of its kind, at a time when a large percentage of ‘adults have cash flow, but unfortunately considered to have bad credit. “
First, ECRID Bill Pay Service is second to none. ECRID credit report holders will pay their monthly bills shown on their ECRID credit report through an automated ECRID electronic payment system. Once the payment is processed, the ECRID credit score and payment status will be updated in real time on the ECRID user’s credit report. This process and method gives lenders validation on how each ECRID credit report holder pays their bills. Second, ECRID credit report holders will be able to apply for loans (home, auto and personal loans) at their ECRID business center. Lenders will have access to registration on www.ECRID.com to become a member and offer their services to ECRID credit report holders seeking financing. The goal is to start offering loan services in November 2021. ECRID lenders will be asked not to retrieve an Equifax, Experion or Transunion credit report, but to base their Novel Fintech sector loan on the actual user’s ECRID credit report. This will give the ECRID user (borrower) a fresh start and a second chance to re-establish themselves as creditworthy borrowers. The main objective of the company (ECRID) is to base the lending decision on the ECRID credit report of the user (borrower) as well as the income to debt ratio of the user (borrower).
Holders of an ECRID credit report (home, car and personal loan) can apply for loans at their ECRID business center. Lenders will have access to register on ECRID.com and become a member and offer their services to ECRID credit report holders who are looking for financing (Home, Car and Personal Loan). The goal is to start offering this service in November 2021. ECRID will ask lenders not to withdraw an Equifax, Experian or Trans-Union credit report and instead base their new Fintech sector loan on the ECRID credit report of actual individual users. This will give the borrower a second chance to recover as a creditworthy borrower. The loan decision will be based on your ECRID credit report and your income to debt ratio. There could be an exception if the ECRID credit report holder is 60 days past due for a creditor. ECRID’s credit analysis team might also consider pulling the three Vantage scores and adding 25% to 50% of their debt in ECRID’s income-to-debt ratio analysis to determine their rate. interest, provided they have enough net income to service their new debt structure (house, car or personal loan).
The ECRID Referral Program is an exciting and hugely lucrative new technology platform that pays you, as a new ECRID member, $ 75 every time someone clicks on your ECRID ad on social media and the new ECRID user creates their ECRID credit report. It’s free to register as a member of ECRID and start earning money! It costs $ 25 to create an ECRID Credit Profile (your creditor’s information) and a minimum of four ECRID Credit Profiles is required to generate your ECRID Credit Report ($ 100).
View original content to download multimedia:
SOURCE ECRID, inc.
The above press release has been provided courtesy of PRNewswire. The views, opinions and statements contained in the press release are not endorsed by Gray Media Group and do not necessarily state or reflect those of Gray Media Group, Inc.