There are many areas where we help our Borrowers.
Cross-border transactions
If a student from India applied for a loan in June 2018 for $85,000 for his masters, he/ she would have to loan INR 57,80,000 (Fifty-Seven Lakh Eight Hundred Indian Rupees) form the local bank.
Historically, the Indian Rupee reached an all-time high of 74.33 in October of 2018. $85,000 in October would be 63,18,050 (Sixty Three Lakh Eighteen Thousand Fifty Indian Rupees).
That means a student who secured loan in June will have to pay the difference of 5,38,050 (Five Lakh Thirty-Eight Thousand Fifty Indian Rupees), i.e., $7328 + the interest on the disbursed amount in INR which will change according to the exchange rates.

Peerfin helps students to avoid the FX risks involved when availing loans. Our loans are in GBP, USD, and EUR in phase 1. Since the loan disbursements are processed in the university accepted currency, the student is saving at least $3000 - $10,000 of FX risk.

We view consumer finance delivered through Peerfin as a significant new market opportunity. Critical drivers of online lending include the following:
• The possibility of lower interest rates for Borrower and attractive interest rates for investors:
• Ease of Process;
• The possibility for all members to help each other by participating in the platform
to their mutual benefit; and
• Growing acceptance of the internet as an efficient and convenient forum for
consumer transactions.

Peerfin endeavors to provide the most accessible and affordable education loans based on the skill profile of the student rather than collateral. We assess students on their future earning potential, not just their credit history.
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.

Our AI engine processes the data and assigns SPQ (Student Performance Quotient), a proprietary credit rating method to each listing. Our innovative model assesses on the potential, among other variables, not just a student's current circumstances and credit history.

Peerfin then converts SPQ rating into notes. This rating is a letter that indicates the level of risk associated with a listing and corresponds to an estimated average annualized loss rate range for the listing.
After a listing is posted, lenders can place bids on that listing until the listing has received bids totaling the requested loan amount. The minimum amount a lender may bid is $50. All bids may be up to 100% of the requested loan amount. The funds are then processed to the university.

Nice thread, Did they have an ICO?.

Yeah they raised around 100 million through private round. I think there is no ico happened.

Nope i think they did an airdrop through coinlist.

Yes. We do. Please contact directly via Telegram - @peerfin

What if a minority student is good at studies?

Avul Pakir Jainulabdeen Abdul Kalam a.k.a APJ Abdul Kalam - His father Jainulabdeen was a boat owner. He was a minority who sold newspapers to supplement his family's income at an early age. Kalam served as the 11th President of India. Why I said this because YES a minority student has every right to study.

As a loan company, we will always advise filing unemployment status with the state immediately after you lose the job. Try to pay the loan interest and get a part-time job immediately (Uber, Doordash etc.) These gigs can earn you some extra cash while affording you the flexibility to go to job interviews and networking events to secure full-time work. We are Peerfin are more interested in processing loans to people who are trying to do masters in top colleges around the world where we believe that the risk rate is much lower than other colleges/universities.

We are taking funds from accredited investors, pension funds, impact investment funds etc. The reason why we are only welcoming accredited investors because an accredited investor will have the financial sophistication and ability to sustain the risk of loss of investment.

Totally agree with your point. Educational loans have low defaults when you compare personal or credit cards. Online lending platforms like Lending Club and Kiva was reporting 10% in the beginning and eventually decrease to 2-5%. We are hoping the same.

Few ways we are protecting investors investment is by signing legally bindable documents. If a lender is deliberately defaulting his loan then we can take legal action against him.

But the true challenge is not the above part. The challenge is to understand when a student is going to default. The economic circumstances across the world are constantly changing. These changes often feed into changes in the payment behaviour of borrowers. Tracking these changes are key to ensuring a consistent risk management framework is applied over time. In summary, in order to effectively manage the credit risk, the focus will be on systems, data and reporting capabilities. This will enable us to build and maintain accurate SPQ's (Student Performance Quotient) and limit losses.

Thank You

Answering your questions one by one

1. KYC verifications can be done via agencies who are doing KYC checks for local banks/passports. For example, In the US many private agencies check the SSN and validate user details. About the certificates, we are only processing loans to those people who are admitted to colleges/universities where we are associated. Universities/Colleges have to do the certificate verification, and they have a strong team who are already doing a good job.

2. At present, we are focusing on EU, India and a couple of other countries. We would launch in the US once the SEC has clear regulation about the security part of the crypto offering companies.

3. We do not want to raise funds from the public. The reason why we are only welcoming accredited investors because an accredited investor will have the financial sophistication and ability to sustain the risk of loss of investment. This is one reason why we are not doing an ICO. We believe that doing an ICO will bring money for the company, but that will not add value in the long run. We are only raising investment via private round and from individuals who can help us to reach the next level.

Please let me know if you have any more questions.

 Hi,
I think this is illogical. The main reasons are in most of the ICOs the bounty allocation is less than or equal to 1-2 percent and in this lot of them are failed to claim. I seriously doubt about their capacity to dump and another thing is most of the bounty hunters will hold the tokens expecting high returns in the future.
Thanks.

1. Yes. they do offer. Problem is they don't directly offer it. In the US private agencies like Sallie Mae is doing it. The whole idea of student loan program was to provide a way for poor minorities so forth to get them away to go to college and loans were administrated largely by the Federal government banks but in the late 1990s through the privatization of Sallie Mae they turned over this extremely important function largely to the private banks, financial institutions, and private equity companies. Sallie Mae not just issued bonds but more importantly they privatized delinquent loans collectors.

After the privatization, Sallie Mae CEO Albert Lord made so much money that he builds his own private golf course in Southern Maryland near Annapolis so he and his buddies could play golf. Under Albert Lord, Sallie Mae paid colleges to drop out of the federal program and make Sallie Mae the loan provider. It put their own employees in university call centers as if the students were getting advice from college loan officers. It lavished exotic trips on college financial officers. It even paid a New Jersey agency $15 million to steer business to Sallie Mae. Needless to say, the Department of Education didn’t have a budget to entertain college aid officials with free cruises on the Potomac River. If you are burdened with thousands or tens of thousands in student debt, and can’t find employment, I just wanted you to assure you that Wall Street is making very good use of your money

2. Yes. Lending is a risky business if you have no idea what you are doing. We use blockchain to use ledger technology and manage student data and notarization. If you read our whitepaper, you will understand that. Kindly go through my above answer for the university verification etc to understand the process.

We have done our research. Please go through our blogs to understand more about what we are trying to do - https://medium.com/peerfin

Thank you for letting me know about the "quote" I actually didn't know that it's necessary.


Well, I live in the US and the interest rate here starts at 7.5%+ and it goes on from that depending on your credit score. We have signed up with a college in India where students are taking loans at 10% - 15%. 15% usually if they are going overseas for studies. But even in countries like India, the student loan default is super low compared to personal or other mortgage loans.

Yeah. We know our target very well. We will let you know once we publish our beta site.  

 Seems A good project. I just want to know, is it like steemit?

 For more details please visit our website www.peerfin.io and airdrop website www.peerfin.io/airdrop.

Thanks.

Peerfin is a peer to peer lending platform for educational loans.

Peerfin endeavors to provide the most accessible and affordable education loans based on the skill profile of the student rather than collateral. We assess students on their future earning potential, not just their credit history.
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.


https://imgur.com/2JLq5nc

https://imgur.com/cmB3XS3

https://imgur.com/UHMI1Lx

https://imgur.com/Fymb7Gf

https://imgur.com/y0kC5Xq

---

Peerfin Token Airdop

The PFN token arising out of this has no security instrument tied to it and is a consumptive or utility token the value of which is determined by market demand and supply.

Peerfin is airdropping 1000 PFN Tokens to max 5,000 participants. Participate in our exclusive airdrop and complete all the required tasks to receive the tokens.


★TELEGRAM ★ TWITTER ★ Google Form

---

Airdrop Info - Phase 1

STARTING TIME : OCTOBER 11, 2018 (12:00 AM)
TOTAL AIRDROP VALUE : 5,000,000 PFN + BONUS
PRODUCT PLATFORM : NEM

---

Step-by-Step Guide:


Join Peerfin Telegram group - https://t.me/peerfin


Follow Peerfin on Twitter - https://twitter.com/peerfinio/


Fill out the google form - https://docs.google.com/forms/d/e/1FAIpQLSdqi6sprS-Ypwm4f3ez0Icho83ezP9DhDauCuxyYVlkqDFhhQ/viewform

---

General Rules


◆Spam and advertising other projects in the PEERFIN Telegram group will result in permanent ban from the group all exclusive airdrops.
◆Please do not discuss airdrop related topics in the PEERFIN Telegram group.
◆Claiming the airdrop with multiple accounts is strictly prohibited.
◆If we detect multiple claims the respective users will be banned from all our running and upcoming exclusive airdrops and lose all their rewards without any notification
◆The PFN token arising out of this has no security instrument tied to it and is a consumptive or utility token the value of which is determined by market demand and supply.

---

Telegram Rule


◆You must register a real account, and only one reward per telegram user and Bitcointalk user.
◆At least 3 posts in a week.
◆You must not discuss bounty topics in the telegram group.
◆Active participation in discussion is required once in a week
◆SPAM and non-constructive discussions are not taken into account.

---

Twitter Rule


◆You must have at least 85% of real followers on Twitter.
◆Multiple account registrations are not allowed.
◆3 Tweets per week are required.
◆Spamming, Trolling or any bad conduct will result in being disqualified and blacklisted.
◆If a participant is found cheating, they will immediately be disqualified and added to the blacklist.

---

Google Form Rule
◆By submitting this form you confirm that all provided details are correct and you completed all of the required steps above. There is no way to change it afterward.

---

Bonus Drop:
100 PFN - Follow our Instagram channel - https://www.instagram.com/peerfin.io/
100 PFN - Follow our Medium channel - https://medium.com/peerfin

---

Instagram and Medium Rules
◆You must have a real Instagram/Medium account.
◆Multiple account registrations are not allowed.
◆Spamming, Trolling or any bad conduct will result in being disqualified and blacklisted.

---

Additional Info:

Total Supply - 9B PFN
Airdrop Phase 1 - 5M PFN
Airdrop Value - $200
Download our Whitepaper - https://www.peerfin.io/whitepaper.pdf

---

 Zepay shutdown all exchanges activities last month.

 Seems an interesting concept.
I think piracy will be the main challenge you are going to face. How you can prevent selling the protected data(copyrighted data)?
You may face legal issues in different countries.

Waiting for your reply.

Thanks.

 Looks interesting concept, but I have a couple of doubts.

1. How you can guarantee the stability of the coin?
2. What is the source of interest money while parking, who gave this?
3. What happens if a huge dip across the crypto industry?

Thanks.