Mutual P2P Loans – There is a type of credit that is growing more and more in Brazil. We’re talking about peer to peer lending , an easy way to borrow money. The idea is to connect directly two tips: who requests the credit and who invests lending the money. This direct connection is made by companies such as Mutual , eliminating the need for a bank as an intermediary and thus considerably reducing bureaucracy and interest rates.
The peer to peer lending approach began to gain prominence in Brazil around 2011. Although some people still do not fully trust P2P loans, they are consolidating more and more. Among the greatest advantages, as we have already mentioned, are the lower bureaucracy and lower interest rates. Thus, many more people can apply for a loan in this mode.
At Mutual , you can be a borrower, that is, the one applying for a loan, or an investor, the one who lends money and receives the amount back with the corresponding interest. While most P2P companies only work with legal entities, Mutual also allows individuals to apply for a loan.
Want to apply for a loan at Mutual, how does it work?
Apply for loans and not have to pay absurd interest to the bank. It seems impossible, but it is true in Mutual . Borrowers can borrow money even from their friends (just sign up for the platform), with virtually no bureaucracy, safely, easily, without leaving home, directly from the app that can be installed on iOS or Android devices.
The first step to requesting a loan from Mutual is to install the application on your mobile phone, create your profile and fill in all the data that is requested. It is very important to complete 100% of your registration so that you can be approved on the platform and thus be able to apply for peer to peer loans without leaving home.
Loan for negatives at Mutual
The loan to negativado focuses mainly on people or companies that are restricted in name (CPF) or (CNPJ) companies and therefore no longer have access to traditional banking and financial networks to obtain credit and personal loans. In the fintechs market we have several online platforms like Simplic, Moneyman, Credisfera, Crefisa Digital and also Mutual that offers this modality.
Continuing .. Once you have completed your registration, it is time to apply for the loan. You can configure all aspects of the same: amount requested, number of installments for discharge, best day for payment, value of the portion that fits in your pocket and even contract insurance that will guarantee the payment to your investor in case of death or disability. If your loan application is the way you want, just publish.
Now, thousands of investors registered with Mutual will be able to view your credit application and, depending on the conditions imposed by you, make the decision to lend the money or not.
Mutual operates as a “Free Market for Loans”. They have a tool called “credit assessment” that the borrower can hire, costs $ 29.90 and is valid for one year. With this assessment, the borrower earns a “credit score”, that is, a reputation, such as in the Free Market, which indicates the risks that the investor has when lending money to him.
The scores are:
? – User did not buy rating
AA – 25 people in 100 may be late
A – 50 people in 100 may be late
B – 70 people in 100 may be late
C – 90 people in 100 may be late
The main point that the investor will take into consideration before lending money is the score.
Receipt and payment
When some investor decides to provide the credit you need, you will receive the money in your account within two business days. You must have checking or savings accounts at one of the following banks:
- Bank of Brazil
- Federal Savings Bank
You will pay for the loan you borrow each month through tickets made available through the Mutual application.
How does it work for anyone who wants to borrow money?
Just like the borrower, the investor also needs to install the application on his cell phone, create his profile and fill in all the data that is requested. Then he has access to all the people who are borrowing from Mutual .
When finding an interesting loan application , the investor should evaluate it and, if you wish, talk directly to who is applying for the loan and even make a counter-offer. Once you are sure that it is worth investing, simply generate a ticket in the application at the amount requested by taking credit and making the payment.
Receipts – income from investors
Every month the investor will receive the portion of the personal loan made on the platform, with the interest due on the transaction, being able to withdraw (transfer) the money directly to your account or, if you prefer, use the amount earned to make other P2P investments.
If the borrower delays payment of the portion of his loan, the investor will not receive until the situation is fully settled by the borrower. When there is a delay, Mutual will perform the collection, linking and negotiating the debt with the borrower, applying a 2% fine + 1% interest per month.
The investor pays nothing for this and does not need to worry, but only receives the updated amount with a fine and interest if the borrower makes the payment.