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.

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