If you already know crowdlending, you are probably thinking of carrying out a project and need financing . And surely you have already wondered if it is possible to finance your project with Good Finance. The answer is quite simple: if it is a personal project , yes.
And what is meant by personal projects ? Well, from paying the tuition in a master’s degree to continue your training, to cover the reform that that outdated bathroom needs, or finally free you from myopia. What you need Did you know that the personal projects that are most collaboratively financed in Spain are higher education, vehicle purchases and weddings?
Crowdlending as such allows acting in two different ways: peer-to-business (P2B) or peer-to-peer (P2P). P2B crowdlending is used to finance SMEs and to support entrepreneurs. The peer-to-peer system is the one that allows peer-to-peer financing, among people , as in the case of Good Finance.
Loan needs for a personal project
P2P crowdlending is specifically indicated for loan needs for a personal project. To put you in context, it is generally recommended that the financing of personal projects be done through a loan instead of a credit . Although they are often treated as equals, they do not work in the same way and, above all, the interests they generate are very different – they are higher in credits. Therefore, you have begun by choosing well.
The advantage of crowdlending financing is that it is carried out without intermediaries . And what does this mean? Well, even lower interest than traditional loans . In addition, at Good Finance each loan is 100% personalized , so that your quota and your interests will depend exclusively on the analysis of your financial situation and the characteristics of the project you want to develop. With total transparency .
There are certain conditions that your funding request must meet in order to join the crowdlending with Good Finance:
- That the budget is between € 3,000 and € 15,000 .
- That you estimate to return it from 1 to 5 years .
- That your personal project does not consist in undertaking or creating a small business.
- That, as responsible, you are a solvent person, without a high percentage of debt. Keep in mind that if you do not pay your fees, there will be people who do not recover their investment, and then would not want to finance other people who were in your same situation.
Unlike other financial products, the loans are not refundable and must be repaid within the agreed term. Once you have enjoyed it and returned it, you can make another request if new needs have arisen.
Personal projects funded by people
All you have to keep in mind when applying for a loan under the crowdlending system is that, personal. In the specific case of participatory financing , the fact that they are personal projects adds more value to the relationship created between borrowers and their investors. After all, they are people who achieve their dreams thanks to them.
For this reason, at Good Finance your request must always be accompanied by a description of your personal project . Think that being a person-to-person loan it is important that you can explain well what you need it for and arouse investor interest.
Have you already decided to join crowdlending? Your personal projects can come true with the help of other people who, like you, can be excited by a dream.