LendCross is originally a German lender that now also operates in the Netherlands. So you too can benefit from a loan with a very attractive interest rate. Thanks to an innovative approach, the people behind LendCross are able to realize a completely new way of borrowing money. This is because a model is used in which both investors and borrowers play a role. You can best describe it as a cross-border online credit marketplace.
How does the credit application process work?
The credit application process is made up of a number of steps so that you can apply for a loan safely and quickly:
- Apply for a loan: the most important thing of course is that you first state how high your loan should be. You will also be asked by LendCross for additional information, such as your income and living situation.
- Receive a credit score: The modern LendCross system calculates your credit score based on your request. Compared to other lenders, more is taken into account in the calculation of the score. This way the calculation of the score is as fair as possible. You will know more about your potential loan within seconds of your application.
- Confirm your income and identity: You are asked to prove the income you indicated in step 1 by means of bank statements, for example. In addition, you will confirm your identity on the basis of a short video procedure.
- Sign the documents: Put your digital signature and wait for a response.
How does LendCross calculate the interest rates of the credit projects?
LendCross calculates the interest rate based on the data you provided with your application. This results in an annual cost percentage that is between 4.82% and 14%. The annual percentage rate of charge has been determined according to EO provisions.
Deserves LendCross model?
Although determining your creditworthiness is done for you free of charge, there are administration costs that you need to be aware of. These one-off administration costs correspond to 0.5% to 5% of the desired credit amount. Furthermore, use of the platform is free.
What are the requirements for becoming a borrower on the LendCross platform?
Is borrowing via LendCross safe?
Because you are properly checked for your identity during the application process, fraud can be excluded. Because LendCross also takes your personal information very seriously, you can be sure of security. It is not for nothing that LendCross has received a first-class certificate for data protection.