Credit Application
The page "apply for credit" allows you to choose if you wish your credit to be published in the auction or if you would like to pay a fix interest. Please fill in credit amount, credit duration and the interest rate. Once entered you can find the information about the maximum monthly credit rate und the fees immediately. The questions asked in the form serve the following purpose: we cover regulatory requirements (money laundering, Consumer credit law etc.) and we establish data for credit check.
Fill in forms easily quick online
As a private person you can sign up for a credit application fully online with Crowd4Cash. It takes you approx.15 minutes (approx. 30 minutes as SME), no struggle with vaguely explained forms and no unnecessary waiting time for approval. We work hard on meeting your intention to get your money as soon as possible.
Upload documents
All required documents for the credit check can be uploaded easily to the Crowd4Cash platform. Just upload from your computer or as pictures from your smartphone. Then we will perform the credit check and approve your documents. Once all documents are approved from our end, your credit project will be published on our platform.
Check of credit application
That’s it! At this point we are going to review your application including the uploaded documents in order to confirm your credit rating validity. Once your application is approved, your requested amount for the credit will be published (anonymously) in the auction on our website. If you choose fix rate, we will propose an offer beforehand.
In case we are unable to grant your desired credit, we are certain to find an alternative solution – let’s discuss!
Approval/Rejection of Credit within 24h (for SME 48h)
As a private person you will know within 24h if your credit has been approved or if we need to find an alternative solution. In general we expect you to be acknowledged within a few hours. For SME you will beacknowledgedwithin 48h.
Bidding period – investors can bid on your project
As soon as your required credit is published on the platform the “crowd”- potential investors can bid for your credit project. You can choose your own bidding run time and that’s how long the bidding period lasts. Offers with fixed rate end, as soon as the credit is fully covered. For Offers in the auction, the bidding ends with the end of the bidding period, which enables investors to bid until the end and lower the price of your credit.
Payment protection insurance, which can be taken out with the loan application, increased your rating and gives the lender more collateral safety. This increases the attractiveness of your credit project, which can lead to more bids during a shorter period of time.
Processing of the funding / payment
There is a revocation period of 14 days for private credits. After successful closing of your credit funding process you will receive the credit amount on your account as soon as the revocation deadline has passed. Therefore we ask you and your investors to sign and upload the loan contracts stored in your account on Crwod4Cash.
Actual Credit Period
Among other things we take care of the installment payments for you: You just transfer one payment to Crowd4Cash and we are handling the rest. We are keeping you informed in detail about your transactions to your investors in your personal area on the platform. Your monthly payments are being transferred directly to your investors.
