Bitbond Review: Get Small Business Loan With Bitbond
In this article we will take a look at a company where you can borrow loans to fund your business and also invest to diversify your portfolio globally. This is no other company but Bitbond.
What is Bitbond
Bitbond is a global peer-to peer bitcoin lending platform for small businesses. Founded by the CEO Radoslav Albrecht, a company where you can invest and/or take a loan. You can do this very easily and quickly without any complications. The company has been a huge success the last 4 years, just take a look at their statistics and you can understand why.
In addition most borrowers are eBay sellers and other online small businesses. Bitbond is run by Bitbond GmbH, a German company that facilitates loans throughout the world. As of March 2016, Bitbond had 23,000 users and had funded over 1,100 loans. The market place connects investors ablnd borrowers and facilitates loans of up to $10,000. Borrowers can qualify for interest rates as low as 7.7% and origination fee range from 1% to 3%.
How Does Bitbond Works
Bitbond makes investors diversify their portfolio by investing in bitcoin loans through out the world. Borrowers receives low interest loans with favourable terms and get the satisfaction of obtaining a Loan without the need of a bank.
The first step in Bitbond lending process is to perform a credit rating of all borrowers. Bitbond’s rating goes from A(the highest) to F. Once rated, borrowers list a project on the market place. Investors the choose which listings they are interested in and lend as little as BTC 0.01($4 as of March 2016) per loan. A listing has a maximum of 14 days to receive funding, but the auction will end soon as the amount requested is reached. Loans are funded as long as investors find 60% or more of the requested amount. Borrowers can have a maximum of one Loan at a time.
Here is a short video:
How Much Money Can I Borrow From Bitbond
Borrowers can apply for loan amounts of up to $10,000.
What Are Bitbond’s Interest Rate?
Interest rates vary depending on the creditworthiness of each borrower. Bitbond does not publish a range of APR rates, but interest can be as low as 7.7% and as high as 25% .
Bitbond charges borrowers a 1% to 3% origination fee. The cost varies depending on the length of the term. A six week loan has a 1% origination fee, but a 60 month loans has a 3% origination fee. Their are no other lender fees or payment fees.
Bitbond Application Process
Borrowers must first open an account with bitbond. Providing their full name and email address. After that Bitbond will send you an email with a link. Complete the short application form. Then the platform will check your credit profile and give you rating of A to F, depending on what your credit history is, type of business, revenue, customer rating, etc.
Click on www.bitbond.com to register and get a loan for your small business.
Why Bitbond is better than other Lenders
- Bitbond allows investors to diversify their portfolio globally.
- It has competitive rates and low origination fees.
- The market place will process loan listings where investors have funded 60% of the loan amount.
- Investors can automatically invest their funds with no fees.
- Application process is fast and easy to complete.
This is a legit company with great service that I am sure will make a lot of people happy all around the world. It is a company that helps you with the extra financial help you might need for your own business idea or can work as another passive income stream for you.
I hope you found this short review of Bitbond to be helpful and now you should have better understand about what it is and if it is something for you or not.
If you are an active client, please do share your experience with us in the comment section below as it can help others.
I wish you success!