Link Capital relies on partners to assist
lendees with every area of the loan repayment process.
Specially trained representatives work with
potential lendees until the deal is complete.
Special rates are available
for lendees that also have a First Republic checking account.
A mortgage can also help you maintain a good credit score — as long as you keep making your monthly payments on time, you'll be considered a
dependable lendee.
The vested interest
in lendee success prompts many investors to mentor the «treps they finance.
Miguel Palacios of Vanderbilt University's Owen Graduate School of Management says that as long as repayment limits
protect lendees from becoming indentured servants, selling equity in oneself is a great option.
There's no reason that lending can't work like it does in the real world: That a lender and
lendee workout the length of a loan, during which time the lender doesn't have access to the contents of the book.
Applicants with good credit history, currently working or with the possibility of a long term job are given priority over other
possible lendees.
An automatic payment deduction policy can
save lendees up to.25 % on negotiated interest rates.
Typically, the interest rate for an UpStart loan is between 6.25 percent (for well -
qualified lendees) and 25.99 percent (for those that are a bit riskier to lend to).
Considering that many comparable lenders can have interest rates as high as 35 percent for
risky lendees, UpStart's rates are very reasonable.
CordiaGrad offers their own incentive based referral program for
current lendees.
The company promotes policies that work with first -
time lendees with no previous credit.
And though there is no minimum income required to qualify for the loan, UpStart requires that all of their
potential lendees have no greater than a 50 - percent debt - to - income ratio (which means that, if you make $ 50,000 a year, you can not have more than $ 25,000 in debts).
A mortgage can also help you maintain a good credit score — as long as you keep making your monthly payments on time, you'll be considered a
dependable lendee.
A lower interest rate is available to
lendees with a CordiaGrad checking account.
UpStart requires that all of their potential
lendees have a minimum credit score of 640 (which, incidentally, is also the minimum Federal requirement to get an FHA loan).
No fees are associated with the loan and
lendees can choose their terms.
In addition to phone and email options,
lendees can arrange a face to face meeting with a representative.
References are required for
both lendees and their co-signers.
These circumstances include job loss and death of
the lendee.
For example, be conscientious about how you spend your money in front of
the lendee, and keep an open dialogue about when and how you plan to make payments.