Lendico — Peer To Peer Lenders

Lendico — Peer To Peer Lenders

Loans are built around the concept of lenders connecting to borrowers. Apart from the traditional method of banks lending to its customers, one other method in which this happens is through peer to peer lending.

Peer to Peer lending is a method of debt financing that enables individuals to borrow and lend money, without the use of an official financial institution as an intermediary. Peer to Peer lending removes the middleman from the process, but it also involves more time, effort and risk than the general brick and mortar lending scenarios. One business organisation leading the way in this regard is Lendico.

Lendico is a multinational company, operating a peer to peer lending platform.The international online marketplace for business and consumer lending was founded in December 2013 by the incubator and venture capitalist.

Participants in this marketplace consist of borrowers seeking finance and lenders who are seeking returns. By bringing the two together, both sides are able to avoid the high cost structure found in the banking industry.This means that borrowers get better rates and investors get better returns.

For those who would like to borrow, the process starts with you telling Lendico about yourself through the creation of a loan project in three easy steps.You will then receive a personalised rate for your loan, this rate is based on your individual needs and its free of charge.You can then send your documents via mail or just upload them directly to your account. As soon as tall supporting documents are received, your loan request is verified. Lendico introduces your loan project to investors who will then fund your loan. Loan projects are usually funded within a few days, and the loan amount will be directly transferred to your bank account.

For those who would like to invest, you simply open a free investors account in minutes and immediately start building your own personal portfolio.There are no abstract financial products, you simply invest in your chosen loan projects starting from only R250. Once a loan project has been fully funded, Lendico will ask you via email to transfer your investment amount. Each month, you will receive principal and interest from your loan projects, directly to your bank account.

Lendico can be contacted through various online platforms.

Categories: General, Loans