PEER TO PEER LENDING allow your hard earned money meet your needs. Peer to Peer Lending review â€“ Squirrel
Quality of borrowers
Another means Squirrel protects investors is the consider lending to top quality borrowers. Over 90% of loans given regarding the platform (by value) is for A, B, and C grade borrowers. In addition, the one year loan is actually for home owners just, who would like to borrow cash for things such as renovations, repairs, and household that is big like furniture.
Weâ€™re not the lender that is right everybody else. Our focus is on good quality creditworthy borrowers. On average we approve around 20percent associated with the applications that people get
Squirrel Investor Modify, 2019 november
My experience â€“ Did the chance happen for me?
We feel that Squirrel is a whole lot safer than Harmoney and Lending Crowd â€“ by using these two platforms, in the event that you choose a loan that is bad purchase, your hard earned money is fully gone. With Squirrel, the Reserve Fund eliminates this danger (as long as it offers enough funds). We have not skilled any money losings thus far, so that it seems that the investment is performing its task!
4. Platform Costs
While Harmoney and Lending Crowd, deduct charges straight from the interest you make, Squirrel doesnâ€™t, for instance, if you spend money on a loan at a price of 7.5%, no longer charge is deducted from that 7.5% (apart from tax). That is where Part 3 of a borrowerâ€™s interest re payment is available in:
Part 1 â€“ Your returnPart 2 â€“ Reserve LevyPart 3 â€“ Squirrelâ€™s fee
The charge that Squirrel takes from a borrowerâ€™s interest re re payments (also called the Service Margin) varies according to the chance Grade for the debtor: