P2P lending platform SOFIN — an access to finances for everybody
SOFIN is a project of financial social network which grants an access to the peer-to-peer loans in fiat currencies. It’s a mutual benefit for both participating parties: ones are in the need of financial support, others are ready to lend. The platform itself is not a creditor.
The effectiveness of SOFIN is based on transparency and multi-level verification of borrowers. The platform allows both parties to negotiate the terms themselves, concerning the loan, the rate of interest, the duration and penalties.
The transactions are fully legal since they respect all of the regulations of the borrowers country of residence. The platform guarantees the transaction support, sends the notifications. In case of missing payments, due to the demand of creditor, it sends the data to debt collectors and sets the documents to the court.
The borrowers’ verification is done in four steps. These include the examination of documents, the phone call, the estimation of borrower’s credit history and the confirmation of employment. Both models are already working in the current projects of the team.
SOFIN is based on a blockchain — it allows to keep the verifiable information about all parties, their transactions and arrangements. The money conversion also is done at the platform. SOFIN plans to emit the tokens, which will be traded as a regular listing at the exchange and within the platform itself. The SOFIN tokens are planned to be used as bonuses and cashback for good lenders and trusted loaners with clear history. The will also be eligible for paying the commissions and compounding the loans.
Today, the peer-to-peer lending becomes more and more popular worldwide. The p-2-p platform has got a lot of advantages comparing to microcredit organizations and banks. The average rate is about 15-20% per year, and that is much less than microcredit organizations offer (up to 600%!) Herewith, the return of the lender is much higher than the bank deposits can offer.
Peer-to-peer lending solves global problems — there are more than 2 billions of people worldwide who don’t have any access to financial resources. The total number of people living in the countries where the interest rate is above 20%, is about 3 billion. The P2P platform grants the access to financial resources to almost every social group in any country — on legal grounds.
If you need more information follow telegram group https://t.me/sofin
Topic: P2P lending platform SOFIN — an access to finances for everybody (Read 144 times)
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