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Post by cornwal on Dec 1, 2016 8:56:13 GMT
This site which had some great days,is closing,blaming "regulatory pressure". Perhaps good news for anyone who was still repaying a loan ...
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Post by cornwal on Nov 15, 2016 15:01:35 GMT
F...... C..... has opened sites in Germany,The Netherlands and Spain. It is interesting to note that rates seem to vary between 3,79 and 16,60 in Germany, 3,79 and 13,47 in The Netherlands,Spain starts at 4,79 (no other information) and the US at 5,49. There's only one site where it seems nothing about these matters is appropriate on a front page,it's the British one.
If anyone has any information about anything about to happen in France it would be very interesting. It seems this country may be difficult in terms of regulation. The banking market is pretty closed ... but shouldn't that make it a target ?
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Post by cornwal on Nov 14, 2016 18:15:05 GMT
adrianc: I agree. Would add that I would possibly avoid socializing with anyone enjoying this kind of lending ... Although it's likely that some of them may not realize that the extravagant nominal rate they are offered is not even the effective cost to the borrower. Regarding the site's process,it has to be mentioned that I was asked for my latest tax return and that there is a live video identification where you have to hold your ID document close to your face (and try to guess what someone with an approximate english is asking you to do!). Not sure some procedures from established online banks are not more easily faked... Also to be mentioned: Accessing (paypal has a third party function where you can allow this) someone's account is pretty informative ...
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Post by cornwal on Nov 14, 2016 17:39:49 GMT
@wiseclerck: Iwoca is more to the point,had already noticed the site and confirmed they don't operate in France.
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Post by cornwal on Nov 14, 2016 16:41:15 GMT
Thank you Wiseclerck for this prompt reply ! As far as I know,Finexcap's only activity is supplier credit,buying invoices you create. Lendix does traditional screening and even more severe,going back at least 3 years. It's likely that none of these two has realized yet that it is possible to quickly get a good idea of the trustworthiness of an eBay seller by accessing their account. B...... is claiming they are close to automating their system completely including reading of the latest tax return,and rating someone in minutes. On a scale from A to F ,I was speedily rated C as a 1st time borrower,took just a bit more than 24hrs. The cost is a pity really,I got a reply that was not an answer,when I asked why not see if I can find any investor at the rate I am prepared to pay ?...
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Post by cornwal on Nov 14, 2016 15:32:49 GMT
Hello,I own a small business based in France. I own a Paypal account held in €,but Paypal working capital has not launched here. (It is lending based on the volume of your account,you repay only when you are selling: Paypal keeps a portion of any amount a customer sends to you).
Having heard that some companies allow you to submit loans without anymore hassle than giving access to your Paypal and/or eBay accounts for them to check your reputation and lack of incidents,also checking of course your identity,I found only one with an address in the EU,and serving France among other countries,called B...... (I am not sure at this time if being more explicit would comply with forum rules) and was indeed accepted. You have to complete the examination process before you know what the cost is going to be,just one click away from potential investors beginning to see you. The site did not offer eur but only xbt or usd. I was asking for 2000$ to pay back over 12 months and discovered it was going to cost 2000 PLUS ONE THIRD. Having a look at published loans and questions,I found one from Greece with an investor expressing concern at the cost to the borrower. So even,at least one,investors are worried !
My question is,for the opinion on this of members here,and do you know a site working on the same very interesting basis but at some sort of non-depressing rate ? I mean something above twice what his high street bank would offer an investor but not 6 times ? Thanks !
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