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Post by perpetualtraveler on May 2, 2016 11:17:41 GMT
Has anyone tried this site yet?
According to Altfi it got 3.6M in funded loans so far.
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shimself
Member of DD Central
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Post by shimself on May 2, 2016 13:39:06 GMT
I was playing the Happy Mondays really loud on the way to the supremarket this morning. Lovely.
Google translate suggests they make lots of different sorts of loans, and we all should remember that making bad loans is easy to do and ruinous. With only 3.5M loan book the amount of loan expertise must be pretty small, so, no.
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Post by angrysibert on May 3, 2016 12:16:34 GMT
I'm from Slovakia, so I have been following the platform very closely. From what I have seen and read about it, it doesn't not seem to be worth the hustle.
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Post by GSV3MIaC on May 3, 2016 14:03:01 GMT
I think you mean 'hassle', but still .. I can't be doing with anything that requires keyboard gymnastics just to type the platform name. 8>.
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invest
P2P Blogger
Alive
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Post by invest on Jan 14, 2017 8:17:56 GMT
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Post by wiseclerk on Jan 14, 2017 11:40:36 GMT
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Post by buttchopf23 on May 10, 2017 14:43:39 GMT
Dear investor,
We are excited to announce the introduction of our new Quick Loan product on Žltý melón.
What is it?
The amount of the loan is lower than for standard loans - from 100 to 500 EUR – as it is designed to provide a cheaper alternative to people currently trapped in a cycle of borrowing with high cost lenders.
Borrowers pay only the interest on the loan, which is fixed at an affordable rate, and repayment is due in full 30 days later. However, the borrower has the option of extending the loan for up to 6 months and repaying in a series of smaller, more manageable, regular monthly installments .
Quick Loans are not only fair, but also a great deal for both borrowers and investors, The structure of the loan means it is possible to earn high returns without having funds locked up in long-term investments.
The juicy details!
The loan will be classified in the "HR" rating class, due to the type of customer and is therefore riskier, but also more profitable, than investing in our standard loans. Also, as these loans are for smaller amounts, you can only invest a maximum of 50 EUR in each of these loans. This helps ensure your risk is limited through increased diversification.
If loans are extended, the repayment dates are based on the date the loan was taken out, rather than being paid on the 15th like our standard loans. Similarly, as investment in these loans is initially set for 6 months, to ensure borrowers are able to extend their repayments if necessary, the earnings on loans that are repaid earlier is proportionally higher than for standard loans.
All of these loans will be assigned the “HR“ credit rating and the recommended interest rate will be fixed at 26.4% p.a., making them more risky and more profitable than investments in standard loans. Also, as these loans are for smaller amounts, you can invest a maximum of 50 EUR in each of these loans. This helps ensure your risk is limited through increased diversification.
Due to the short duration of auctions for Quick Loans, it is highly recommended that you use the Auto-invest tool to make your investments for you. To do this, you need to set the minimum loan amount at € 100 in Autoinvest and the minimum amount for a single investment at € 50 or less.
Loans that are responsible and human
We decided to introduce this type of loan to help people that currently rely on short-term loans get a better rate, and avoid getting trapped in a cycle of debt with the current high cost lenders.
Many of our loan applicants are regularly repaying their existing short term loans each month, at very high costs, but we have not yet been able to offer them a loan that meets their needs.
Our new loan product is both fair and affordable, and is very different than the loans offer by other high cost lenders that keep people trapped in a cycle of borrowing.
People can now get the money they need today, as well as a chance to build up their credit history with us for the future. This will enable them to qualify for a standard loan with us, at an even better rate, which can be used to help them pay of thier existing debts in a much more affordable way.
Availability
Our new Quick loan product will be listed on our platform in May and available for you to invest in immediately. We believe that you will both agree with our social purpose for launching this new product, as well as benefit from this profitiable investment opportunity.
Sincerely yours,
Žltý melón
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kulerucket
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Post by kulerucket on May 10, 2017 14:57:59 GMT
I suppose they must have mean humane and not human. The law doesn't seem to like human loans very much.
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Post by red_panda on May 11, 2017 22:17:06 GMT
buttchopf23Are you a representative or were you just pasting a note you received? Thanks. If you are a representative, what's the expected monthly volume of these new loans?
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Post by buttchopf23 on May 12, 2017 5:14:41 GMT
Hi Just posting for information, I am not a representative.
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Post by Jos Henson on Aug 11, 2017 8:04:22 GMT
Hi there, Great to see there is a discussion here about Žltý melón! I am a representative of the company and would be more than happy to answer the questions in this thread as well as any others people have :-) I suppose they must have mean humane and not human. The law doesn't seem to like human loans very much. To start with, I can put your mind at ease that this was neither a typo, nor are we engaging in the business of lending humans!! Rather, it was a slightly 'loose' use of the English language to convey one of our core messages, which is especially relevant with regards to our new short-term loan designed to help people trapped in a cycle of high cost borrowing and debt with non-standard lenders. Specifically, we think of ourselves as a 'people-to-people' lending platform, rather than a peer-to-peer lender, as lending on our platform is truly powered by a community of people, that are able to interact directly with one another in loan auctions and via our own Social Network that is embedded in our platform. In the case of our new short-term loans, we believe that many of the predatory practices we see amongst non-standard lenders and their behaviour towards their low-income customers, is neither humane nor does it respect people as human beings. Hope that helps to clear that up! Jos
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Post by Jos Henson on Aug 11, 2017 8:07:50 GMT
I'm from Slovakia, so I have been following the platform very closely. From what I have seen and read about it, it doesn't not seem to be worth the hustle. Hi there, Thank you for your interest in Žltý melón! We believe there are definitely many reasons why investing on our platform is a great choice, but unfortunately I don't quite know where to start! Can I ask what aspects of investing on our platform you think, or have heard, are a 'hassle', or what maybe is unclear in terms of the benefits of doing so? We are always trying to improve our systems and so while we believe our processes and user interface are simple and non-bank-like, we really value feedback about we can continue to make things even easier for our users. Many thanks Jos
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