Introduction: What is the cost?
The process is free for investors. Companies pay us a commission of 3.5% of the loan amount.
At the time of delivering the funds to the company, you will have to pre-pay us the commission which will be reimbursed back to you in the course of the loan repayment.
You agreed to lend COP $ 5M at a rate of 12% per annum for 1 year which gives a total repayment of COP $ 5.6M per year. The commission is equivalent to 3.5% * COP $ 5M = COP $ 175,000. You will pay the commission after the company raises its loan online. So you will be paid back after 1 year: COP $ 5,600,000 + COP $ 175,000 = COP $ 5,775,000, equivalent to COP $ 481,250 monthly. Capital, interest and commission payments are made month by month.