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27/12/15
05:26
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Originally posted by Trime
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These guys are quiet good from what I see, hear and read.
I have phoned these guys and they are actually switched on.
Minimum investment amount = $10
Minimum term / market = 1 Month
Just on their site and have a read on FAQ section... there's some cool stuff here. if u invest your money it could take a few days to see someone lend ur money out.
Also Rate setter have been in the UK for 5 years now and have established themselves here in Australia just over 12 months ago,
They have 30,000 registered member to date
They have 1000 loans currently active
They have up to 2000 approvals currently running through for lending
They have $900,000.00 in a cash account to date to use to pay you if a borrower goes rouge. (which they have not have happen yet)
It's free to register and log into the back end portal to check it all out
***POINT THAT I LIKE*** the % rate is only a guide... this rate can be changed by you before entering into a contract... so if you want 15% u can ask for it. you might not get it but... better than being locked in
***POINT TO LOOK OUT FOR*** your not really only locked in for that time period, you are only diluted out of the investment if there is another investor who can overtake your funds.
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I have dabbled some funds at different rates and different loan periods since my original post and my experience so far has been exceptional. I think in terms of loan size you would struggle to put big money in at this stage, however as the user base grows this problem will dissolve. They also update users regularly with industry studies and service progressions keeping everyone up to date.