No one will invest in unprofitable business. In some small countries and in their universities someone who has access on database will send you documents of students, whom in reality don't need any loan and this way there will be a huge scam from some university employees, there are even facts of falsely given diplomas. Also banks in developed countries have low fees on loans.
Thank you for your feedback.
According to Morgan Stanley in a report in 2015 predicted that P2P lending would command $150 billion to $490 billion globally by 2020. The Compound Annual Growth Rate (CAGR) of 48.2% between 2016 and 2024 in P2P loan industry.
Company Name Est. Revenue 2017
______________________________
Lendkey $7.5M
College Ave $5M
Common Bond $8.5M
Credible $8.9M
Above are a few examples of P2P lending companies. Everyone has raised more than $50M+. We believe that we can become one of them within the next five years if we go in the right direction.
Kindly go through our whitepaper. We do not fund to students directly. We use their data and vet with the university where we are associated. For example, if London Business School has Peerfin program, then a student coming from India or Brazil has to submit the proof of admission from LBS to start the loan process. The documents include your historical study record to proof of income and in some cases credit report.
Our risk assessment includes, but is not limited to, multiple elements such as pre-study salary, university acceptance and future income to ensure individual loan affordability; as opposed to only considering historical earnings data.
I do agree with your last point. Developed countries provide loan to students. It's easier to get a loan but the high interest and private organizations are killing the youth with the student debt. https://www.washingtonpost.com/news/grade-point/wp/2018/01/05/where-student-loan-debt-is-a-real-problem/ In fact student loan is so huge that some are predicting that it's going to be the next bubble.
In a country like India where student loans absolutely require a co-signer. When loan amounts exceed a certain minimum (Usually $10,000 above) collateral is also required in most cases. Families wishing to go this route will be asked to put their house on the line – and therefore decide which child will be able to attend university.
I will be posting more about our platform soon in the forum. I'm a newbie here so please ignore if there is any mistake.
Thank you for your feedback.
According to Morgan Stanley in a report in 2015 predicted that P2P lending would command $150 billion to $490 billion globally by 2020. The Compound Annual Growth Rate (CAGR) of 48.2% between 2016 and 2024 in P2P loan industry.
Company Name Est. Revenue 2017
______________________________
Lendkey $7.5M
College Ave $5M
Common Bond $8.5M
Credible $8.9M
Above are a few examples of P2P lending companies. Everyone has raised more than $50M+. We believe that we can become one of them within the next five years if we go in the right direction.
Kindly go through our whitepaper. We do not fund to students directly. We use their data and vet with the university where we are associated. For example, if London Business School has Peerfin program, then a student coming from India or Brazil has to submit the proof of admission from LBS to start the loan process. The documents include your historical study record to proof of income and in some cases credit report.
Our risk assessment includes, but is not limited to, multiple elements such as pre-study salary, university acceptance and future income to ensure individual loan affordability; as opposed to only considering historical earnings data.
I do agree with your last point. Developed countries provide loan to students. It's easier to get a loan but the high interest and private organizations are killing the youth with the student debt. https://www.washingtonpost.com/news/grade-point/wp/2018/01/05/where-student-loan-debt-is-a-real-problem/ In fact student loan is so huge that some are predicting that it's going to be the next bubble.
In a country like India where student loans absolutely require a co-signer. When loan amounts exceed a certain minimum (Usually $10,000 above) collateral is also required in most cases. Families wishing to go this route will be asked to put their house on the line – and therefore decide which child will be able to attend university.
I will be posting more about our platform soon in the forum. I'm a newbie here so please ignore if there is any mistake.