General Frequently Asked Questions
As soon as the borrower is
late in repaying an instalment, we will make contact on behalf of the investors
to find out the reason behind the delay. In case of a delay, the borrower shall
pay a fine specified in the general loan terms. When the borrower faces
financial difficulties, we will try to find the best solution for both parties.
If the borrower is not able to repay the loan, the borrower will be given the
option to take a repayment break.
In case the borrower wants
to extend the loan period, CrowdingLab will investigate the reasons and assess
the situation accordingly. If the loan period will be extended, the borrower
will be obliged to pay a fee to cover additional documentation expenses.
The aim of inspecting the
borrower is to assess the company's ability to pay back the loan. We control
the borrowers’ background, creditworthiness and current obligations. If
applicable, the business plan and financial statements will also be
investigated.
0 Fees for
investors
Strong
collateral