We are in a world full of ideas and brilliant people. People who, perhaps, need a little push to carry out the path that will make them fulfill their objective.
Until recently, traditional financial institutions enjoyed a monopoly in granting loans to such brilliant people, to carry out these great ideas. The problem is that, little by little, the prices of these financing have been rising or their concessions have been decreasing.
Result of this situation?
Great ideas related to this have begun to emerge. Platforms focused on contacting people who need a loan with others who want to invest in products that give them a higher return than they are currently receiving for their savings. Thus, the Crowdlending, participatory financing platforms (PFP) that bring these two profiles together.
Advantages of Crowdlending?
The advantage of applying for loans through platforms such as these is that everything is digital, so the process is usually faster than that of a traditional financial institution. In addition, thanks to digitalization, we also find that interest is lower for those who request the loan and higher (and therefore more profitable ) for those who invest. Why? Because we must not maintain such large and expensive structures and because the interests paid by borrowers go almost entirely to the pocket of investors. It should also be said that it should be borne in mind that only loans are granted to those solvent persons. That is, those who can return the financing monthly. In this way, the interest they pay will not cover delinquencies that may exist – unlike the interests that cover delinquencies in the portfolios of traditional financial institutions.
Requirements of those who request a loan?
Thus, we find that in these PFP borrowers are solvent and responsible people who are going to repay the loan to investors who have financed part of your personal projects.
It also happens that you may need financing for a project but have doubts about whether your profile will be accepted by analysts and considered valid for other people to finance. This can happen if you do not have a permanent job, if you are still a student, or simply if the money you have left at the end of the month in your bank account is a fair tad. These kinds of things can lead us to ask: will this person be able to return the amount he has requested?
Do not worry! As long as you are not in delinquent files or have defaults of some kind, you can count on a co-owner.
What is a co-owner in George Knightley?
A co-owner is like the “ guarantor ” in the traditional financial entity. Basically it is the person who supports your loan. That is to say, it is done with the responsibility of the quotas if the holder of the same – that is, you – does not carry out the payment of the same.
But that co-owner simply answers for you, does not receive commercial information, or unnecessary telephone calls, nor does he have to pay anything monthly (unless you stop paying the refund of your financing). Of course, do not worry because, a priori, the interest of your loan does not change if the analysts ask you to contribute a co-ownership to your financing request.
How does the whole process work?
You enter the platform and simulate the loan you need to carry out your personal project. You select the quota that best fits you and you register as a user. You can do it through the bank account or by calling and requesting that step be skipped.
Then you will have to attach certain documentation, necessary for the analysis of your profile.
Once studied, analysts consider asking you to attach a co-holder to your loan application. Thus, the co-owner can register in 4 simple steps.
You send the request via email or via SMS. In both cases comes a link that leads to our platform.
Once here, the co-owner will have to give the OK to the general conditions and enter their access codes (never the operation keys) to their bank account. Thus, risk analysts can study the profile of the co-owner without having to attach a pdf with their bank movements or anything. The idea is to make the registration process as easy as possible so you don’t get tired too soon and you run out of the financing you need!
The next step is to raise the ID and the payroll (do not forget that, at least he, has to have a recurring income that comes from some justifiable place).
Finally, you will simply have to fill in certain information such as your date of birth or the sector to which you belong.
It only remains to wait for the risk analysts to tell you that your co-owner’s profile is valid, sign the application and publish the loan on the platform to invest in your project.
Because we want you to achieve the dream you want so much, we do our best to help you. The important thing is you, your comfort and your confidence.