Crowdlending: Saving directly in French SMEs – Paid Loans

Since 2014, banks’ monopoly on paid loans no longer exists. Every French can now lend his money directly to the companies of his choice and receive interest.

Investing in the real economy is the satisfaction of allowing jobs to be created and companies to develop innovative services while boosting their savings.

2.6 million French people are already convinced

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Crowdfunding started in France at the end of the 2000s. Accompanied by different policies and legislation, it has since developed in France in various forms: the gift for donation, the loan at a rate 0, paid loan, capital investment or royalties. Since 2013, the amounts collected have almost doubled each year, on ever more numerous platforms.

Between 2015 and 2016, the amount collected increased from 166.8 million USD to 233.8 million *. Since the beginning of crowdfunding, public interest has only grown. In January 2017, 2.6 million French · es had already given, lent or invested in a project of this type. In fact, the business-to-business lending sector accounts for a significant portion of this growth, as in 2016, loans totaled $ 83 million, compared with $ 31.5 million the previous year.

Finance the loans of our small businesses

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For businesses, borrowing from individuals has many advantages: communication effect around its activity, federation of a community, credit without guarantee or guarantee, unrivaled speed (on average 10 days of collection time) … For individuals, Participatory loans make it possible to choose directly the projects in which to invest and thus, to know where is placed every cent of its savings.

The same month, the French can invest there, between 20 and 2,000 USD per project, in a photovoltaic panels company, a law firm and an Italian restaurant. Projects are rigorously selected by financial analysts according to specific criteria.

For the entrepreneur

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The model demands transparency and exemplarity. He will have to disclose his accounts, his history, his business plan but also keep in touch with his lenders after the collection to inform them of the evolution of his projects as well as the state of health of his company.

In exchange for loans – and depending on the risk taken – individuals receive interest each month, from 3.5 to 10.5% gross annual. Beyond this rate, these platforms really allow the French to regain control over their money and above all, to give it a real meaning!

The Spaniards go back into debt after the crisis

We Spaniards have learned an important lesson from the crisis, right? Yes, it is dangerous to live above our means. However, as they say, the ‘Spaniard stumbles twice on the same stone’, because today our level of indebtedness returns to the paths. Thus, optimism and confidence in the future encourages citizens to spend more than is saved.  

During the past 2017, households once again considered credit as a great financial alternative to finance their standard of living. In fact, at the end of the third quarter of 2017 (last available data), household debt reached 776,500 million euros and exceeded 1,700 million spent in the period of the previous year.  

In short, we are facing the first increase of the last six years and confirms that for a large part of the Spanish, Spain is doing well and, therefore, is consumed happily.

By the way, are you one of those who have already begun to spend and consume as if there was no tomorrow?

But how is citizen spending after the crisis?

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Although it is true that after the crisis, our spending is not exactly the same, and certain changes can be seen in our way of consuming. Thus, we value offers very much and we look hard for them in supermarkets. We even sacrifice some products for others that we consider of similar quality but cheaper. This is the case of sunflower oil whose sales have experienced a rebound while raising the price of olive oil. For its part, fresh fish (which has risen 6%) we have replaced it with frozen.

Comfort also decants many of our purchases. Thus, prepared dishes are sold more, as are soups and single-dose coffees, which have been growing in sales for years but may begin to lose that verve within a short time since many autonomous communities are considering banning them in a few years given their high cost for the environment given the large amount of waste it generates.

And how is our shopping cart now?

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Our cart, in addition, is filled with pasta or whole grains, vegetable milks (lose the classic ones) and squeezed juices. Palm oil begins to fall back on the ingredient list of countless products that no longer use it because consumers do not want it.  

The price matters, but not so much

We started buying organic products. In this sense, four out of ten households have bought a bio / eco product in the last year, 74% say they follow a healthy diet and 69% value the possibility of buying local products and even acknowledge their willingness to pay more. The truth is that in 2011 the only variable that mattered to the consumer was the price. Now, happily, this factor no longer weighs so much and we can consider others.

The data prepared by the Cetelem Report reveal that we have become a bit more environmentally friendly, since 21% of respondents acknowledge having in their purchases always – or almost always – criteria such as sustainability and ecology.

The second-hand market only manages to keep 20% convinced, although it is being perfected and provides excellent portals such as Percentile. com or Micolet.com, with clothes that, sometimes, still shows the label of the original store.

Food and clothing expenditure grows

During 2017, also according to the Cetelem Observatory, our average monthly food expenditure grew by 4% compared to last year and we already spent about 317 euros on average. On the other hand, the consumption in clothes has also grown, and our clothing dedicated about 505 euros per year (61% more than in 2016).

And which communities spend the most?

And which communities spend the most?

Of course, it is always possible to talk about regions where this expense is higher. Thus, according to the IESE-Barclaycard Consumption Barometer, with data by autonomous communities from the INE Family Budget Survey, the communities with the highest per capita expenditure are the Basque Country (13,313 euros), Navarra (12,599) and Madrid ( 12,558). The least spent are the Canary Islands (8,906), Extremadura (9,194) and Andalusia (9,237).  

In cash or card?

As much as the technology or our bank insists, we prefer to pay our purchases in cash. In this sense, most of the studies carried out in this regard coincide in the fact that about 84% of the transactions are made with cash and money.

An online loan for purchases or specific money needs?

Yes, the Spaniards continue to rely on credit to satisfy our way of life, given that 58% of the population comes to him to buy certain products, especially those that are related to home renovations and dental health.

It is evident that the request for a loan is sometimes very necessary to meet certain expenses that we could not otherwise assume. From our loan comparator we want to remind all our clients that on our website they can access a wide variety of online loans, compare them and, if they are convinced of their conditions, request it comfortably. Read the comments of previous users and, of course, do not forget to leave yours about your experience as you can help others make their decision.  

Is My Business Idea Working – Business Loans – Corporate Loans

Many of us have thought about starting a business. The idea may have come about as a result of lengthy reflection or sudden brainstorming. Whatever the idea came from, the most important thing is to consider whether your business idea is profitable in the long run and whether it builds profitable business.

That’s why we’ve put together a series of questions to help you determine if a business idea is a good idea and whether you should go ahead with it.

Consider these when thinking about how your business idea works:

 

Is the business idea clear?

Is the business idea clear?

It is important that the business idea has a clear red thread and purpose. You can test this by trying to explain your idea to outsiders. If they understand the brief explanation on the top of your idea (and you can tell it yourself), the idea is probably good. Many budding entrepreneurs make the mistake of simply turning their idea around in their heads and focusing on the flower stems, which easily overlooks the very purpose of the whole idea.

 

Do you have customers for your business idea?

Do you have customers for your business idea?

Perhaps the most important thing to consider when considering a new business is the potential customer base. Do you have customers for your business idea? It had whatever your business idea was, someone had to be willing to pay for it. You can approach it by wondering if your new business idea will solve a problem?

You can identify the customer base of your business idea by talking to other people and finding out if they would be willing to pay for your product or service. It’s a good idea to use people other than your loved ones and your closest friends here, as they may be too polite to admit they aren’t convinced of your idea.

 

Who are your competitors?

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It is a good idea to map your competitors right from the start as you will know how you can stand out from the crowd and what your competitive advantage may be. It is important to know the competitive field and how others operate in the market. A defined competitive edge will help you stand out from the crowd and thus attract customers.

 

What is your earnings model?

earnings model?

Businesses do not run with negative cash flow for very long, so it is especially important to look at what your idea is to earn. In other words, how did you think your idea made money? The earnings model includes the sources of income for the business idea, value generation, pricing model, and who pays and where. It is a good idea to outline your earnings model clearly on paper or even in an excel spreadsheet so you can easily outline your income flow.

 

What are the costs of your business?

What are the costs of your business?

When mapping your earnings model, it would also be a good idea to identify what costs your business requires. For example, you might want to map your business cost estimates to an excel spreadsheet, so you can clearly see how much you need to sell to customers to cover all your expenses. Or how much money you need to start a business, for example. If you are applying for financing for your business, many people want to see clearly where the money is going and where it comes from. For example, at Mugridge, we often call our customers and personally discuss the company’s earnings model and cost, and we also provide tips for entrepreneurs. You can also use our Corporate Loan Calculator to chart the costs and repayment times of a potential corporate loan. Corporate credit is a good solution if you need more financing to implement your business idea.

 

Why do you want to be an entrepreneur?

Why do you want to be an entrepreneur?

Perhaps the most important question to think about when starting a business is why you want to become an entrepreneur and why you want to realize that particular idea. The reason for the importance of this question is that entrepreneurship requires hard work and can be difficult at times, especially at first. So, you really need to believe in yourself and your business idea in order to move it forward and convince others of your idea. But don’t be scared – think of Elon Musk and Bill Gates, who have made great strides, although not everyone has believed in their visions. Entrepreneurship is also very rewarding, you can work for yourself and success often works better with your own hands.

 

Why are you still hesitating?

Why are you still hesitating?

Many wait in vain for the right time to become an entrepreneur and rarely wait for it to come. If you are looking for inspiration to start a new business, the Entrepreneur Handbook has compiled a list of business ideas that could help you start a business right away. So if you believe in your dreams and you really want to push them forward, now is the time. So don’t be afraid of the point, but get on with the action!

Credit information

In fact, a loan is a financial loan, which in most cases is provided by various banks and financial institutions to their clients for payment of interest. Banks pay more money through interest payments on installments than they do to the client, so lending is done on terms that are mutually beneficial. With the help of credit, people with small amounts of money can quickly get bigger money, and financial institutions can get more money through extended repayments than they have previously spent.

Loan is a financial transaction

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According to the official definition, a loan is a financial transaction whereby the lender either waives the immediate payment for the service or the goods or pays directly to the debtor, who pays the agreed amount or the debt within the term specified in the credit agreement. .

In most cases, only banks provide credit. A general feature of bank credit is that new money is created at the time of the conclusion of the credit agreement, in the form of debt, regulated by the competence of the central bank. The money the debtor receives is not directly from the bank, so the bank only has to pay interest. After the loan is repaid, the money ceases to exist. This can be achieved by the current monetary system by keeping a large part of the economy under constant indebtedness, in addition to steady economic growth.

Financial institutions give credit on a commercial basis

Financial institutions give credit on a commercial basis

In all cases, the financial institutions give credit on a commercial basis, ie in the form of fees, interest and other charges, which the debtor must repay in installments. A loan can be applied for a variety of purposes, can be applied for in advance, for example to purchase goods, services or real estate, or it can be applied for free use.

In fact, a loan is a financial loan, which in most cases is provided by various banks and financial institutions to their clients for payment of interest. Banks pay more money through interest payments on installments than they do to the client, so lending is done on terms that are mutually beneficial. With the help of credit, people with small amounts of money can quickly get bigger money, and financial institutions can get more money through extended repayments than they have previously spent.

According to the official definition, a loan is a financial transaction whereby the lender either waives the immediate payment for the service or the goods or pays directly to the debtor, who pays the agreed amount or the debt within the term specified in the credit agreement. .

In most cases, only banks provide credit. A general feature of bank credit is that new money is created at the time of the conclusion of the credit agreement, in the form of debt, regulated by the competence of the central bank. The money the debtor receives is not directly from the bank, so the bank only has to pay interest. After the loan is repaid, the money ceases to exist. This can be achieved by the current monetary system by keeping a large part of the economy under constant indebtedness, in addition to steady economic growth.

In all cases, the financial institutions give credit on a commercial basis, ie in the form of fees, interest and other charges, which the debtor must repay in installments. A loan can be applied for a variety of purposes, can be applied for in advance, for example to purchase goods, services or real estate, or it can be applied for free use.

The practical benefit of a debt settlement loan is virtually the same as the redemption of a loan, as it allows you to easily get rid of high installment loans and apply for another loan on much better terms. The practical benefit of a debt settlement loan is that you can get rid of even more debts at once, so in the future you will only have to count on one loan, which – in the case of older debts – will result in significantly more favorable terms and monthly repayment installments.

Domestic financial institutions deal with debt settlement

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All of the domestic financial institutions deal with debt settlement, so it is worth looking carefully and seeking the help of an independent expert in debt settlement. It is a common experience that in debt settlement it is worth going to the bank where we have taken out our previous loans, as in this case we often have extra services and discounts and we can reduce our repayment installments by half. Banks do this by adjusting their loan products to the current economic situation when calculating new loans, which has been known to be worse in recent years than in recent years.

Debt settlement loan is recommended when it is too high, the current debt repayment installment is unacceptable and you no longer feel secure about the constant, often drastic changes in the monthly installments of your existing loan. In the case of a debt settlement loan, domestic banks have to meet a few conditions, such as generally being 18 years of age, not being an active BAR list, paying off installments in the last quarter, and so on. Since most domestic banks work on unique, often personalized terms, it is worthwhile to inquire with most financial institutions about debt management loans.

Fast loans, as its name implies, provide us with money as quickly as possible, which is one of the greatest benefits of this type of loan. Quick loans are the biggest help when you have an unexpected expense, and since most domestic banks already have internet access, we can do it from home.

Hungarian financial institutions have developed general terms and conditions for quick loans, so most banks consider it a basic requirement for a Hungarian citizen to be 18 years of age or older. The amount you usually apply for is at least US $ 30,000 and up to half a million US dollars. Banks do not ask for cover for a quick loan, so it is enough to present some paperwork to get the money as quickly as possible, such as having an income certificate, an employer’s certificate not older than 30 days.

Most domestic banks provide instant loans for an average net income of $ 60,000, but the BAR and KHR listings may be an excuse. The basic conditions are the same for most banks, but there may be major differences in the minimum income or existing employment relationship, so in most places you may be offered a quick mortgage with only half a year of employment.

While a quick loan is a great solution when you need your money suddenly, it also comes with a price and a high APR. As a result, the rates and interest rates for short-term loans are significantly higher than those for longer-term loans. Of course, there are exceptions to this, too, such as banks that work with zero percent APR and waive the additional costs of applying for a loan, as well as other additional fees.

Redemption means the repayment of an existing loan or loans from a new loan with significantly more favorable terms than the original loan. For example, if we are unable to pay the details of the Swiss franc-denominated foreign currency loan, we can take out a more favorable forint-based loan to cover our debt.

Reduce your monthly repayment installments

Reduce your monthly repayment installments

The purpose and benefit of a loan redemption is that you can significantly reduce your monthly repayment installments and thus your total repayment amount. As the credit market is constantly evolving, nowadays most of the financial institutions in Hungary deal with loan redemption, which means that at least thirty banks offer the best conditions. It is worth reviewing our own loans at least once a year, as most domestic financial institutions work with one-year cycles for loans, so after 12 months of borrowing we can surely find a more favorable loan, which can be used to effect the loan redemption.

If you decide to redeem your loan, you do not have to contact your first financial institution immediately for help, first seek the help of an independent credit counselor or use the multiple redemption calculator on the Internet. With the Loan Redemption Calculator, you can calculate exactly how much installment you can count on by replacing your current loan with a new loan with better terms. If our loan was taken several years ago, maybe decades, our monthly installments could be reduced by up to 50 percent. There are several conditions for changing your credit, which vary from bank to bank, so check with your financial institution before deciding.

Apartment saving deal is already there!

It would be unreasonable not to use state support through Home Savings for the LTPs you have heard and paid for by many! This is state aid that can be used for any housing purpose.

Pay a little more than opening an account

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Which Home Savings Fund contract you sign up with does not matter in terms of the amount of support, but in other respects you can save on one, while on the other, you have to pay a little more than opening an account.

  • there is a free account opening which will cost you more than 10,000 HUF if you find the right cashier.

Good Finance would like to provide readers with a guide to informing you of current home savings deals:

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Everyone has a housing purpose, we buy, we build, we rent. Those who have already found a home are also well-advised to maintain, periodically renovate, insulate, paint, and keep in mind modernization.

Many would get rid of a mortgage loan faster than prescribed.

Significant help can be given to these goals with the potential of home savings. Even the state rewards this form of savings with a non-refundable grant!

Many people know it, but it is worthwhile to repeat:

  • after our monthly savings of $ 20,000- $ 40,000 or more, we grant a 30% government subsidy of up to $ 72,000 a year. In exchange for the subsidy, however, it is a requirement that we only use our savings for home purposes!
  • According to the latest reviews, it is worthwhile to start investing in LTP savings of 4 or even 10 years, as there is not much better return on deposits than the guaranteed $ 72 / year guaranteed after 4 years.
  • Even low-risk investments cannot outperform them with very low returns!

When opening an account, new clients must also pay attention to the promotions, fortunately the announcement of the promotions is quite frequent, which means several 10 thousand HUF per piece.

What promotions are there?

What promotions are there?

Account Opening Fee

This is a variable item for your new contract, always available and can be up to $ 76,000, unless you have a special offer, the home savings cashier will ask for less or simply drop this item.

What is striking is that there is no significant difference between funds in terms of savings.

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For those who are only interested in the savings opportunity, only the opening discounts are important for how much promotional access they can get to the contract.

Home loan is a big financial decision in everyone’s life! All information on new family home improvement discounts and qualified home loans is available in one place upon request. Here’s an overview of the currently available LTP options. We answer individual cases, explore the most important practical issues, and help adjust to the new GFIC. We will also help you to make Home Savings Cash!

Call our credit broker, fill out the form and we will call you back!

That is why you may also lose your home loan application

Regardless of the prior credit assessment or any security, you can easily slip in at the last moments of your loan application. This can be permanent, as without a bank loan many people will not be able to buy the property they are looking for, and in the worst case the deposit can go away. We’ve collected the pitfalls that most people fall for when applying for credit.

Since the crisis, banks are only cautious in issuing new loans. Even those with relatively high incomes and relatively high levels of self-sufficiency may come as unpleasant surprises. What Problems Should You Prepare for If You Want a Mortgage Loan?

Don’t spend too much on applying for a loan

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The bank can look at the burden of a loan installment compared to your average life. It is advisable to hold yourself back before closing your credit application and avoid any major expense until the transaction is completed. Let’s try to put as much reserve in our account as possible, which the bank’s experts can conclude is that we will be able to pay off the loan details even in difficult times.

Especially in this case, avoid spending on credit. Do not buy household goods or anything else from a commodity loan. Buying a car is not the best idea, especially not with a loan.

Don’t change jobs!

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By default, you have to work at least 3 months in one place to give us a loan. But you should definitely wait a lot more before submitting your credit application. A stable, good job can be a sufficient guarantee for a bank that we will be good debtors, but we can often be disappointed to see that we often change jobs, especially if our salary does not grow at the same time. The biggest mistake with your credit is going to a completely different area to pay less. Let your dreams come true after you sign.

Pay your debts back

Pay your debts back

Unfortunately, banks are quite strict with our other debts. It’s a good idea to get rid of your credit cards, especially your negative balance, before applying for a credit. Close all overdrafts and other debts. Even a student loan is worth paying back, even though the interest rate is favorable.

The loan application process can be quickly halted by an outstanding loan or debt. We can easily get out of time if we don’t take care of them in advance.

 

Choose good credit!

Choose good credit!

If you are ready to apply for a loan, then you only need to find the right offer. Today, for example, you have a high interest rate risk, which means you have a good chance that the cost of your loan will change over the term of the loan. That is why it is worth choosing long-term mortgages that will make you feel secure for a long time. We have written about these risks before.

 

Save on early repayment!

Save on early repayment!

The installment payment should not be discounted. It expects you to easily be able to pay even a 20 percent greater Installment well and put over the real amount involved in a housing savings fund, which will be taken out after years with government support.