P2P lending Sweden. The prerequisite for the entire scheme is the web portal and the company role as intermediary. All parts of the process take place over the internet. Some portals allow you to choose who you want to lend to. The loan applicant must then present himself and his purpose on the website. Normally, your loan will be spread to several borrowers to spread the risk.
The P2P lending platforms specialize on the rule either on unsecured consumer loans or corporate loans . There is a large market for consumer loans. As interest rates are normally high, it is possible to offer competitive offers. A number of companies encounter shards in the sea or untimely interference when seeking banks for business or investment loans. A knowledge company in the beginning phase, for example, will not have objects that can be provided as security for loans for further development of the business. For these, there is an alternative to bypassing by seeking peer-to-peer investors.
TOP 3 P2P lending platforms in Sweden
–Lendify is Sweden’s largest marketplace for loans. Lendify is referred to as one of the most interesting start-ups in the fintech area in the Nordic region.
In March 2019 Lendify reaches two billion in disbursed loans via the platform, of which one billion has been lent during the last 10 months. All loans at Lendify are annuity loans, which means that they are repaid with a fixed amount monthly for interest and repayment together. Lendify has a secondary market where liquidity is created in the asset class and investors on the platform can buy and sell accounts between each other.
– Toborrow is registered with the Swedish Financial Supervisory Authority and is partly owned by NFT Ventures and Marginalen AB. Four out of five new jobs in Sweden are created by small companies. But in order for companies to grow, sometimes financing is required, and for many it is a big challenge.
As an alternative to the banks, Toborrow has since 2014 offered a simple, safe and flexible loan process where everything happens completely without traditional intermediaries. Their vision is to democratize the loan market.
– Savelend was founded in 2013, and is an investment platform owned by Savelend Sweden AB. On a proprietary platform, Savelend provides a marketplace where investors are linked with borrowers. In this way, private individuals and companies have the opportunity to invest in different types of credit with varying maturities, interest rates and risk levels.
During 2018, Savelend provided approximately 21,000 credits worth over SEK 150 million. Savelend Sweden AB is authorized by the Swedish Financial Supervisory Authority to provide and convey consumer credit, while sister company Savelend Europe AB provides payment services in the role of Swedish authorized payment institution with permission from the same supervisory authority.
P2P lending Sweden review is written by Tomas Medeckis