Microfinance banks, NGOs or any lending firm can validate borrowers or small business owners and work with Egoras to distribute the loans to small businesses or any borrower that wants to borrow funds from Egoras. These microfinance banks or organizations are curated by the people and people get to decide which organization can get access to Egoras treasury system. When a user requires a loan, the user will contact a microfinance bank or organization that have been approved by Egoras token holders to validate the user and post the loans on Egoras protocol. This organization validates the user’s information. The kind of business and the purposes of the loans are also uploaded by the validating organizations.
Click [Connect Wallet] and select a wallet supplier to connect your wallet.
Egoras protocol has included MetaMask, WalletConnect, Ledger, Trezor, Fortmatic and Portis. More wallets will be added and updated later.
click [Create Partner with us]
Fill the application form and then click on submit. EGR holders will either vote to approve the lending partner or decline the lending partner.
Lending partner application from Egoras Smart Contract
The Loan company application function sends an application request into the protocol, this application request consists of the name of the microfinance banks, NGOs or the lending partner and also the functions contains the msg.sender address.
function registerLoanCompany(string calldata companyName) external;
companyName : The name of the microfinance banks or NGOs applying to partner with EgorasMicrofinance protocol.
msg.sender : The msg.sender becomes the owner of the company , if approved.
CEGORAS egoras = CEGORAS(0x7a24C....);
require(egoras.registerLoanCompany(“Storaji”), "unable to create company");
const instance = await new web3.eth.Contract(abi, address)