Wisefund crowdlending platform overview
Wisefund is a platform where individual lenders meet businesses looking for loans, bringing business lending to more affordable level while providing opportunities to individuals letting their free funds bring stable and above the average annular returns. Each project listed (and coming up to be listed) is thoroughly checked, with very comprehensive due diligence done to ensure each borrower is a guaranteed high return opportunity for investors.
Wisefund has established a cooperation with Nord Capital Markets where the latter provides services of business analysis of the businesses willing to raise capital on the Wisefund platform. Nord Capital Markets – a stock company founded in 2009 – is a privately held company focusing on global financial markets and financial analysis.
Nord Capital Markets has over 10 years of experience in analyzing global and local companies in respect to their creditworthiness. In assessing the financial stability of companies, Nord Capital Markets utilizes classical financial analysis toolkit – analysis of the borrowers’ financial statements and projections. At the same time firm’s analysts take into account local peculiarities and economic realities when assessing the creditworthiness of the companies.
If you invest for the first time at Wisefund don’t forget that you can get a 0.5% cashback bonus for the investments made in the first 180 days.
Who can invest at Wisefund?
Any person can be a lender on Wisefund as long as one meets the following criteria:
a) be over 18
b) have valid passport or ID card
c) has a bank account in financial institution registered and licenced in a country of the European Union (EU) and European Economic Area (EEA) and Switzerland
d) are a resident of a country from the European Union (EU) and European Economic Area (EEA) and Switzerland
How it works?
First, register as a lender with Wisefund. Second, verify your identity. Once that’s done, transfer funds into your Wisefund lender account. Once these steps are completed, you’ll be able to loan to available opportunities immediately.
It’s quite simple to lend on Wisefund:
Search our ‘Open projects’ and choose the businesses to which you’d be willing to lend (based on interest rate, minimal investment, loan term and/or project description), then simply select an amount to lend and you’re done. You’ll receive interest payments as per schedule, and the principal will be repaid with the last interest payment accrued.
The funds will be transferred from your Wisefund lender account to the Wisefund account of the borrower. When the loan is issued to the borrower, you’ll hold a loan contract. This entitles you to monthly repayments at the interest rate that accompanied the loan request.
Wisefund don’t charge lenders any fees. Wisefund earns commissions from borrowers for each successfully funded loan.
What happens if a loan does not meet its target?
As soon as it opens for loan requests, each lending opportunity has its target sum and timespan detailed on the Loan details of each loan (funding target term may be extended with the approval of the borrower and current active investors) to get fully funded. In cases when the open loan request doesn’t reach its target by the funding deadline, Wisefund credits the Lender’s account with the invested principal, and no interest is paid. Interest is paid only for fully funded Loan opportunities.
The buy-back guarantee
Borrowers who have defaulted will be pursued with debt collection. But for the safety of our investors, we’ve entered into an agreement with a third party investor who guarantees to buy out any loan that is late for more than 60 days at the rate of remaining principal, and will pursue debt recovery actions themselves. The investor bears no responsibility on defaulted loans which are covered by the buy-back guarantee. The borrower will have to meet all the costs, as investors aren’t liable for any additional expenses. Currently all loan opportunities listed are covered by the buy-back guarantee.