Crowdfunding is a fairly new form of borrowing money. With crowdfunding you borrow from other individuals or companies. In recent years, many crowdfunding platforms have been added where you can take out a loan at an affordable price. How can you get a loan with crowdfunding? What are the benefits of borrowing money? And is it beneficial to borrow money? We are happy to tell you more about that!
How can you apply for a crowdfunding loan?
Applying for a loan works the same as with “other” banks and credit intermediaries. You can fill in an application form and your loan will then be applied for immediately. There are various platforms where you can apply for a loan. But more and more new platforms have been developed.
Is borrowing money quickly crowdfunding?
|Personal loan||Revolving credit||Mini loan|
|From 4.1%||From 4.5%||Borrow a maximum of $ 1500|
|Fixed interest||variable interest||No BKR testing|
|from 21 to 69 years old||from 21 to 69 years old||from 21 to 70 years old|
|Payment within 2 days||Payment within 2 days||Payment within 24 hours|
|Apply for a personal loan||Apply for revolving credit||Apply for a mini loan|
If you want to borrow money quickly then a loan in this way may not be the right way. There are two reasons for this. First, the assessment process takes a little longer. If you apply for a loan from a bank or credit intermediary, you can usually know within a few minutes whether your loan is approved. With the crowdfunding loan you have to take into account a much longer assessment period.
The second reason why it can take (much) longer is because your loan has to be written “full”. Every investor only pays a small part of the loan you have requested. It can take days, and sometimes weeks, before your loan is written up. The amount will only be paid out to you when your loan is fully subscribed. So this is not really a quick way of borrowing money.
Crowdfunding and BKR assessment
In the past, this form of borrowing money was a form of borrowing money without BKR testing. It was therefore an opportunity to circumvent testing at the BKR. Nowadays this is no longer the case. Most providers of this credit form now test with the BKR themselves and register your loan with the BKR. This is to prevent overcrediting from taking place.