Diversified crowdfunding platform Symbid announced earlier this year their intent on offering loans, as part of a portfolio of financing options. Now they have set a date.
Symbid will start offering loans, crowdfunded on their platform, this month and they are promoting the service to both investors and borrowers. The lending parameters are for debt between €20,000 and €2,500,000. The term is said to be from 6 months to 7 years. All legal documentation will be handled on the Symbid platform which may accept multiple investors to close a loan.
Investors may add debt to their existing Symbid accounts delivering diversification across equity and now debt. Payments are said to be quarterly with Symbid monitoring the performance. The Symbid “Funding Network” will offer entrepreneurs a growing range of options to help meet their financing needs including venture capital, angel investing, loans, factoring, leasing and more.
For entrepreneurs interested in crowdfunding a loan, Symbid will require at least 3 years of financial history, forecasts for the next three years and a “sound business plan”
In many ways Symbid is a harbinger of the future of finance. The internet is transforming the way capital is accessed and a portfolio of online options for both SMEs and investor is the natural evolution of finance.