Ending the auction: After cash out
Ask for the loan
When you reach 80%, you can make the cash out, which means that you can request your loan. All investors are legally obliged to send you the funds. Otherwise they will be liable for a fine on the promised amount of 5.0% to you and 5.0% to us.
A fee of 3.5-11% is applicable on the amount you raised through our page.
Before cash out, we will send you credit notes with blank spaces along with instructions. You must sign the original document with your co-debtors and send it to us while the auction is live.
When making the cash out, we will add the details of your loan to the credit notes with each investor and we will continue to be the custodian of the document. We will send a copy to your investors who in turn will send you the funds.
Loan start date
The chosen date for the start of the loan is 2 days after cashing out is. Investors have until then to send the funds.
We will also send you the investors' IBANs so that you know where the funds have come from. They will have to be from registered accounts to avoid any illicit activity.