Žltý melon

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.

Žltý melón has provided an in depth interview on their platform. In the interview they also gave their opinion on some general aspects of the p2p industry.


Here is the link to the interview: www.investitin.com/investment-opportunities-property-finance-and-personal-loans/ (contains affiliate links)

Cheers
Jim

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

buttchopf23
Are 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?

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 :-)





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