Ending the auction: Cashing out and after
Asking for the loan
When your offer is accepted you are legally obliged to send the funds. By not doing so, you will be banned from the platform for 1 month. This is done after the cash out of the funds, and only when the company has managed to obtain at least 80% of the funds.
There is no commission for the investor. The process is free. You will have to pre-pay the commission which will be repaid by the company over the course of the loan.
The company will have to sign and send us the original credit agreement. Once received, we will send you a copy of the agreement and you will be able to send the funds from your account. No money will be accepted in cash or by check. It may only be done by bank transfer.
Loan start date
When the company has done cash out, you will have 8 days to send the funds. If the funds are not received, the agreement will be canceled and you will incur the previously mentioned penalties.
Eight days after cash out will be taken as the first effective day of the loan.