Small loans between individuals granted by Wise Company are, today, a very important reality in the financing landscape. Since not everyone knows, in detail, the loans between individuals and the advantages they can offer, we decided to make this short guide.
Loans between private individuals
It is not always necessary to contact a bank or a financial company to receive a personal loan: this can in fact also be granted by “social lending” institutions, which make available the so-called “loans between private individuals”. It is a method of financing made possible by platforms that put applicants in contact with lenders, allowing both categories to benefit from affordable rates, both for those who lend and for those who receive money. Let’s see in detail how the loans of Wise Company work, a “peer-to-peer lending” institution whose credit lines have interesting aspects that we will analyze below.
Wise Company is a social lending company regulated by the Bank of Italy and is therefore legally authorized to provide loan services to private individuals. Through its online platform, applicants’ profiles are assessed and classified on the basis of their creditworthiness, thus giving lenders the opportunity to manage risk, deciding which category of contractors to lend capital to.
The units made available to investors will not be disbursed to a single applicant, but will be divided into micro-amounts, which will flow into a loan. In this way, the risk for the lender is diluted in the event of any episodes of insolvency on the part of the contractor.
Apply personal loan in a Wise Company
With Wise Company it is possible to apply for small and medium-sized personal loans, to repay within different time horizons. The minimum amount payable starts from 1000 USD and can reach 15 thousand USD, to be repaid in 12 or 48 months, while the fixed rate applied starts from 5.60%. On the Wise Company website, you can calculate the installment and the financing costs using the loan simulator, and then proceed with the online request.
You will receive all the instructions on the appropriate pages on the web, also taking advantage of telephone customer support. We also remind you that with Wise Company you can also deposit amounts, which will yield percentages according to the selected method: for those who provide liquidity, the yield is defined by an interest rate that starts from 6.50% gross. Again, more information can be found on the company’s website.