Crowdfunding is still a relatively young way of borrowing money, and also a special way. Crowdfunding is also known as peer to peer lending. Various crowfunding platforms have been established in recent years. These platforms are the links for this new form of loans.
On these platforms you can create an account as a person who wants to borrow money, or an account as an investor. Those who want to take out a loan can submit a loan project. He will have to describe where he has income from and what the money is needed for. The most crowdfunding parties are currently requesting income certificates. As it were, a person who wants to borrow money must “pitch” a loan.
Investors can in turn choose what they want to borrow their money from. If there are enough investors for a project, the project is “fully written”. This means that the loan can be provided.
Crowdfunding and the BKR
Crowdfunding has become more and more mature in recent years. Not only are the assessment criteria more and more extensive. A number of parties have also sought connection with the BKR. Experian tests have already been done regularly. But now that there is also a link with the BKR, it is better to estimate the risk category. And one can match the interest rates that the person borrowing the money better with the actual risks. Even after the loan has been granted, the BKR loan can be registered. This reduces the risk of overcrediting.
Where can I apply for a crowdfunding loan?
There are not so many parties where you can go for a crowdfunding loan. Nevertheless, the number is increasing. A new entrant has recently been introduced in the Netherlands. This is Lendico. Lendico registers and tests with the BKR, and has a license with the AFM. Incidentally, you can repay a loan from Lendico at any time without penalty.
One of the biggest advantages of crowdfunding is that the assessment of your credit application is more flexible than at regular banks. It is more difficult to obtain a revolving credit or a personal loan than a crowdfunding loan. The only form of borrowing money that is even easier to obtain is the mini loan. But crowdfunding definitely comes in a good second place.