Loans between individuals
Credistair is the first platform in France loan without bankers. We offer a credit from a collaborative system, but it is not about credit between individuals proper. Credit funds are collected from professional investors (individuals, companies, pension funds, insurers, foundations, etc.). Explanations on the specifics and mode of operation of the loan between individuals.
Credit between individuals: what is it?
This is a personal loan transaction between individuals through an organization.
The credit or loan between individuals, or PAP / P2P, is also called the credit without banker, because generally the lending organizations between individuals are not approved organizations or banks.
Whatever the name given to the loan between individuals, the latter is a revolution in the financial field; it competes directly with institutional banks by positioning itself as a credible alternative. At the same time, the personal loan between individuals is a real remedy when the family or friendly circle can not or will not lend money (because it does not have the necessary amount, or because it finds it hard to trust).
Credit between individuals: a new term
The loan or credit between individuals is a term “fashionable” for some years now. Some profiles of borrowers no longer trusting banks are now turning to the collaborative system to apply for credit.
In the United States, the loan between individuals already exists since 2006 with the first global platform of credit between individuals: Lending Club. This company, founded by a Frenchman, is a real success from its launch. Almost ten years later, she claims to have granted more than 4 billion euros in loans.
Loan between individuals: the answer to an urgent need of money
In terms of credit, the bank has a significant market share compared to private lending institutions. However, the popularity of individuals for this mode of financing is real and growing. And for good reason !
First, personal credit between individuals is fast to obtain. Immediately after completing your application, you get a response in principle. Within 24 hours of sending your credit report, you will receive an answer. If it is favorable, the money reaches you within 48 hours.
Second important point to raise: the relatively flexible conditions for obtaining loans between individuals. It must be known that this financing model is accessible to the borrower who does not meet all the conditions to obtain bank credit. We think in particular of the young entrepreneur who does not have strong guarantees, or the individual registered in the file of Incidents of Repayment of Credits to Individuals (FICP), or the Central File of Checks (FCC), which is deprived of any possibility of take out a personal loan from a bank.
But this credit without a bank is also for the borrower wishing simply to leave the banking system and its sometimes prohibitive rates. In the case of credit between individuals, private lender and borrower agree on the interest rate that applies. Result? Loans are much more attractive!
Good to know: tax return mandatory past a certain amount
The law requires both lenders and borrowers to declare to the tax authorities any loans between individuals amounting to € 760 or more.
Mentions and form of a loan agreement between individuals
Loans between individuals are governed in the same way as a “classic” credit. This inevitably involves the establishment of a contract between the borrower and the private lender. This writing can take the form:
- Either a loan agreement (form n ° 2062, to be signed by the borrower and the lender, who each keep a copy).
- Either a debt acknowledgment (to be written, dated and signed by the borrower, an original for the lender, another for the tax department, and a copy for the borrower). Beyond 1,500 euros, this document must be written by a notary.
The said contract must mainly mention:
- The names, first names and full addresses of both parties;
- The terms of the loan (amount, duration, frequency of monthly repayments, interest rate).
Credit between Individuals and Credistair: what link?
Credistair has created a new collaborative credit system in France. This system connects a group of individual borrowers and professional investors and Credistair is the simple intermediary. Credistair sells a credit to individuals on the one hand and credit on the other as an investment product with several types of profiles.
Credistair does not exclusively lending between individuals in the sense or associations, private or public companies are part of professional investors who, by financing the projects of households, make their money grow.
Our system offers a participative, collaborative and virtuous credit, which is not a bank where credit is only funded by one and the same organization.
Finally, as you may have noticed, most credit institutions apply PRAs (prepayment penalties). This is not the case at Credistair, regardless of the amount reimbursed. Our offer, transparent, is free of any hidden fees.
Need money in a very short time to start your business, repair your broken down vehicle, do work in your home or regularize your bills? Thanks to the Credistair lending platform and its community of private lenders, quickly validate your credit report and finance your project at lower interest rates, and therefore at a lower cost!
The three key points to remember about the loan between individuals
- It consists of a loan of money between two natural persons (or between a natural person and a legal person), via a collaborative platform specialized in loans.
- For individuals, it is a viable alternative to bank credit.
- It makes the personal loan accessible to any individual, including young entrepreneurs and individuals registered in the Personal Credit Reimbursement Incident File or the Central Check File.