If you choose not to upgrade your subscription, you will continue to remain on the Free plan. The Free plan gives you just enough to get started. It’s perfect for small teams running simple loan operations or just exploring the platform. However, as your lending business grows, so do your needs.
For example, if you’re running multiple loan cycles, say, salary advances for small businesses or recurring microloans, you’ll likely need features like custom mobile app, guarantor configurations, web app domain settings and much more. Unfortunately, the Free plan doesn’t support these.
Without those tools, you might find yourself spending more time on manual updates and this slows you down.
When you upgrade to a higher subscription plan, you unlock a wider range of features designed to help you scale. You gain access to things like tier management, custom workflows, team roles and permissions, and better borrower management.
In short, the Free plan works for testing the waters but if you’re serious about growing your lending operations, moving to a paid plan gives you the control and visibility you need.
Read more: How Lendsqr is using AI to transform its processes