The advantages of this type of loan are detailed below, which most crowdlending platforms offer.
- No cancellation commission: There is no commission for early repayment, neither partial nor total. Therefore, the company can cancel the loan at any time and thus stop paying interest on it.
- 100% online: The financing request, the sending of documentation, the analysis… Everything is done 100% online, without the need to travel.
- Agile and simple: Since, as we have indicated, it is online financing, thus greater agility in the service is achieved and also greater simplicity in the process.
- Without hiring additional products: Through crowdlending, the company will not have to hire any additional product or service that increases its financing cost.
- No small print or asterisks. The company will know all the information about your loan in a clear way.
- Financing for all types of companies and freelancers.
Steps to apply for financing
Applying for a loan for a company through the crowdlending system is very simple. The steps would be the following:
- The company or freelancer must complete the form on the website of the crowdlending platform. This will request a series of documents to be able to analyze the operation, such as taxes, bank pool, accounts in the commercial register ...
- Once approved, it is published in the Market or Marketplace section of the platform itself. This is where investors registered on the platform will begin to lend their money to the company in exchange for a return. Each investor can generally lend from $ 50; therefore, each loan will have a multitude of investors who lend them their money.
- Once the amount requested by the company is completed, the loan is signed, and the platform is in charge of collecting the monthly instalments made up of capital and interest from the company and distributing them among the investors who have participated.