Essential Tools For Advancing Finance: Flash Loans Come To Elrond DeFi Via Equalizer
Loans are essential tools in any financial system. They contribute to the growth of the global economy by enabling businesses and entrepreneurs to capitalize on opportunities. This results in the creation of jobs, assets, and revenue, which further create new opportunities, in a positive feedback loop.
However, accessing loans is a complex process that requires collateralization, lengthy verification procedures, and results in generally large interest rates, with a large portion of the loans defaulting and ending up in debt collection procedures.