Many business owners end up with two or more, all at high interest rates.
FintruX Network is making decentralized financing with trust a no-brainer for borrowers and lenders, building an ecosystem where transparency, risk reduction, and efficiency is maximized to ensure all participants win.
Inefficient Banks prefer to lend cash on cash. This means that they will lend you the same amount of money you have in your savings account, using your money as collateral.
Additionally, loan amounts requested are usually too small for financial institutions to do efficiently. Expensive If a loan is procured from alternative financing sources, the interest rate is generally too high.
Finance companies only utilize a few data sets to evaluate SME borrower worthiness resulting in poor representation of credit, and traditional p2p lenders offer high interest rates due to private equity backing.
Inaccessible Capital that could have been invested in small business credit has been largely locked out of the market. Individual investors generally lack the size and access to directly invest in small business credit, and while institutional investors have had some access to this market, they lack the tools to customize portfolios to their specific risk tolerance.
Our platform makes unsecured financing easy, fast, and highly secure with credit enhancements, no-code generation, and an open ecosystem.
Credit Enhancements Credit enhancements have historically only available to securitizations of large portfolios. Our background and technology enables us to create novel credit enhancers for our true P2P lending platform, acting as cascading levels of insurances to cover potential losses.
Since the over-collateralization coverage is one-tenth of the loan, it is capable of covering one out of ten bad loans from the same borrower. The company owner is always the first guarantor to be responsible.
If all guarantors for a loan default, then the respective pool can cover additional losses, neutralizing the risk for lenders. Continuous injection of over-collateralization from new loans and recovery from defaulted loans will make this pool one of the safest insurance mechanisms.
This scenario is extremely unlikely in a healthy ecosystem of good actors, incented guarantors, and loan volume. No Code Generation Our no-code generation technology enables us to simplify and streamline the loan application process, increasing efficiency and lowering costs.
Borrowers and lenders of various risk profiles and tolerances can easily find each other online. An open-source unique loan smart contract is automatically generated and deployed by FintruX Network for each approved loan in real-time to provide unambiguous, immutable, and censorship resistant records where no arbitration is required and expected obligations are transparent.
We are shifting the programming paradigm with FintruX Network. By generating a new contract for each individual use case, each program is in its simplest form, no more if-then-else statements.
What it means to our programmer: The Smart Contract becomes a binding agreement between the participants - unambiguous, immutable and no arbitration required on the terms and conditions, and status of repayment at any time.
Special instructions such as refinance, prepayment, end-of-term processing, are self-executing and previously agreed upon. By enabling borrowers and lenders direct access to a wide host of financial services, we create maximized opportunities and freedom to make the right decisions.
We provide and maintain a decentralized review platform for borrowers, lenders and all service agencies on the blockchain. In contrast, reviews written on a third-party website are subject to change by the site owner — there is no integrity in the current non-blockchain based systems.
On the other side, we see borrowers, lacking a reliable source of comparability between different lenders as well as the possibility to give unfiltered feedback to share their opinion and thoughts. The same for lenders who can now rate and write reviews on their borrowers and agencies; subsequently these can be used as part of the credit scoring mechanism for assessment of credit risk.
With true P2P lending, we place decision making directly into the hands of the users. Borrowers can choose to be scored by a variety of credit scoring agencies to build a more comprehensive and holistic view of their creditworthiness, unlocking access to additional sources of funding.
Incented guarantors improve overall interest rates by guaranteeing loans, earning a portion of the interest for an incentive fee.
Service providers are offered the opportunity to expand their offerings from a traditional wholesale model for financial institutions, to a retail model selling directly to consumers. Supply All ecosystem participants get paid with FTX tokens for their services.
Demand Token holders have access to the platform, and earn exclusive benefits and rewards. Stable Demand of FTX is directly proportional to the number of loans facilitated by the platform.
Costs specified in FTX are tied to Fiat, enabling a self-regulating mechanism.Project Finance Overview: We have over the years proved to be a leader and lender of choice in the fund raising field of large infrastructure projects. A New York appellate court has cleared the way for foreclosure on two loans for DAB Group LLC's stalled hotel project in Mahattan's Lower East Side, throwing out a trial court decision renewing.
A. Protective advances will not be made in lieu of additional loans, in particular, working capital loans. Protective advances are advances made by the lender for the purpose of preserving and protecting the collateral where the debtor has failed to and will not or cannot meet its obligations.
Loans and Advances Banking business primarily involves accepting deposits from the public and investing or lending the same and thereby making profit out.
The project which will help in rural upliftment, import substitution or equitable distribution of income has to be preferred in comparison to other projects.
Similarly loans for. The Loan Programs Office (LPO) helps innovative energy, tribal energy, and advanced auto manufacturing projects overcome hurdles in obtaining loans to help bring new technologies to commercial deployment. 7 Factors Need Consideration before Sanctioning Banks Loans.
A bank mainly utilizes ‘ its deposits for the purpose of granting advances. Technical competence of the borrower, operational flexibility, and economic viability of the project, rather than the security which the borrower can offer, should be considered in evaluating a loan.