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Have you ever gotten a loan from Crowd4Cash or do you have any other experience with this lender?
Here you will find the right answers
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Have you ever gotten a loan from Crowd4Cash or do you have any other experience with this lender?
Hi there,
Crowd4cash is a peer to peer lending platform which offer crowdfunded loans to businesses and individuals. It is operated by Crowd Solutions AG, a company based in Zug. The platform allows lenders to jointly fund loans and earn interest on their investments. When borrowers apply for loans, these are listed as projects. Investors can choose which projects to invest in and how much they want to invest (minimum 500 Swiss francs per project). The creditworthiness of borrowers is clearly indicated on each project
As a borrower, you pay interest (as low as 4% per annum with excellent creditworthiness) which goes to the investors who crowdfund your loan. Crowd4cash charges the borrower an annual fee in addition to their loan. This is equal to 0.7% of their loan. This fee is deducted from the loan before it is paid out. Crowd4cash charges this fee because it does not earn money on interest as it does not lend the money itself, but simply acts as a medium between lenders and borrowers. It is important to account for the platform fee when calculating the full cost of peer to peer loans. You can then compare the cost of the loan to the costs of conventional personal loans (as shown in the moneyland.ch personal loan comparison, for example).
Example: You apply for a 20,000-franc loan with an interest rate of 6% per annum and a 5-year loan term. The Crowd4cash fee of 699.95 francs (5 x 139.99 francs) is deducted from your loan before it is paid out, so you receive 19,300.05 francs. You pay the 6% interest along with your loan repayments throughout the loan term. This loan repayments and interest are delivered to investors by the platform. In this case, the 6% interest would come to around 1852 francs, as shown by the moneyland.ch loan cost calculator. So the total cost of the loan over the 5 year term would be around 2551.95 francs (1852 + 699.95 francs).
Best regards from Moneyguru
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