The current economic situation, and the delinquencies triggered by many banks have resulted in thousands of cases in the inability to access credit, it has gone from a lax situation, very similar to “anything goes” and banks flooded our mailboxes with pre-granted loans , on the contrary, in which even having sufficient income to justify the possibility of payment, NO is the most common answer.
But it is also not a good time for the saver looking for good returns
Although there are offers in paid accounts that reach up to 4%, many of these are linked to the opening of new products or the transfer of balance from other entities, but this is finished with a Euribor that has “rebounded” three hundredths up to 1.25%, what we are paid for a deposit or an account is still at very low levels.
Thus, in the confluence of interests of the one who needs a loan and can face the payments, and the one who wants to earn more by adding that margin of intermediation that the banks “do not want” even assuming the risk of these, loans between people are born, the P2P Lending, a model that comes from the Anglo-Saxon market this growth is very important in our country.
The positive experience in Spain
Not many bet on the rapid implementation of this type of product in Spain, mainly due to the greater “modesty” of the Spanish in financial aspects. On social networks in the United States or Great Britain, it is very normal to find comments on whether we need money, finance, savings clubs, something still very limited here, but which has been shown to be not so important if we evaluate the success of Communicate, a company of reference in the sector of loans between individuals in Spain.
The system is simple and the work of Communicate vital
Since on the one hand it evaluates the payment capacity of each of the applicants to classify them according to a risk category, which in turn will determine the recommended interest rate for the operation. Thus, the saver who decides to invest in the different projects that are made available to him / her will be able to decide between earning more with greater risk or receiving less remuneration but with more security. The result is access to loans that are otherwise difficult to obtain, in many cases even with very competitive rates, both for those who need funds and for those who want to get a return on their savings.
The company itself recommends making a “mix” of small contributions in different loans to minimize risk without this entailing loss of profitability. All this through a bidding system in which the borrower can close once his objective has been achieved.