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Borrowing Guidance
Ending the auction: Investor default
Sanctions
An investor who cancels an accepted offer will be fined and must pay the amount agreed with the company: 5.0% to Invest Latam and 5.0% to the company.
Waiting list
You may be lucky and get more offers even if you have already approved 100% of your targeted loan. Before cashing out, you will get a list of pending offers which you can reject. If you do not, they will be in a waiting list. This means that if an investor doesn’t send you the funds, you will have the option to ask an investor on your waiting list if they are still interested. They won’t have the obligation to accept though.
Second round
If there are no investors interested in lending to you from your waiting list, you will be able to start a new auction for the remaining funds.