Question 1

Types of loan repayment

Accepted Answer

The following types of reimbursement will be discussed below:

BULLET;
FRENCH-STYLE AMORTISATION;
FRENCH-STYLE AMORTISATION WITH PRE-AMORTISATION;
ITALIAN-STYLE AMORTISATION
MULTIBULLET
AMORTISATION with BALLOON
DYNAMIC

N.B.: loans called "amortising" on the platform assume French-style amortisation.

1. BULLET REPAYMENT

For the duration of the loan (usually 12 months to 8 years) the borrower pays interest-only instalments. The principal is repaid in full at maturity ADVANTAGES:

Allows access to immediate liquidity. DISADVANTAGES
It is very expensive for the borrower to repay.

EXAMPLE OF BULLET REPAYMENT

10000€ capital loaned
TAN= 5% monthly interest= 0.05/12=0.004167
12 monthly instalments For the first 11 months €41.67 per month will be repaid (10000€ * 0.004167), at month number 12 €10000 (capital initially lent) + €41.47 will be repaid.

2. FRENCH-STYLE AMORTISATION

The instalment (interest + capital) is constant over time.
At the beginning of the loan, the instalments are made up of a higher interest rate, whereas towards the end of the loan the interest rate decreases and the principal rate increases.
In short: the interest payments are decreasing, the capital payments are increasing.

ADVANTAGES AND DISADVANTAGES FRENCH-STYLE AMORTISATION

ADVANTAGES: The borrower knows exactly how much he has to pay in and the number of instalments.
DISADVANTAGES: As time goes by, it becomes less and less worthwhile to pay off

Question 2

Dynamic Loan: what is it?

Accepted Answer

As you can see, we have implemented dynamic lending. The dynamism of this type of loan is due to three factors:

the capital is repaid by the companies (borrowers) dynamically according to their turnover (no predetermined repayment schedule);
the only cost for the company (return for the investors) is a pre-determined fixed value (no annual interest rate) which is also paid dynamically as the principal is repaid;
the dynamic loan has a final maturity where, if the monthly repayments have not been sufficient to repay capital + fees, the full amount due will be repaid by the financed company. The return for investors will therefore be proportional to the company's income: you will start from an agreed fixed minimum and this can be increased according to your performance. By how much? Here's the pleasant surprise: __the more promising the growth project in which we have chosen to invest, the higher our return will be.

Question 3

If I have invested in a project on the EvenFi Marketplace, when will I receive payments?

Accepted Answer

You can find the expected payment dates for the projects you have invested in in the calendar in the Dashboard section of the EvenFi website. Please note, however, that due to banking deadlines it is not unusual for a company to pay its investors a few days later than scheduled. For this reason, only a payment made more than five days after the date specified in the calendar is considered a genuine delay. After the five days have passed, EvenFi will remind the company concerned of the payment until it has settled its debt and will notify investors of the delay by e-mail.

Question 4

Card deposit failed

Accepted Answer

There are many reasons why a card deposit fails. The reasons are usually the following Insufficient amount on the card 3ds is not active on the card; to solve this problem it is possible to activate it autonomously through home banking, if this is not possible call your bank's assistance requesting activation Monthly spending threshold exceeded

ATTENTION: difficulties have been reported in payments with cards issued by Poste Italiane and Ing Direct. If you find an error in the payment, you can proceed with the deposit by bank transfer, or use another card.

Question 5

Verify your profile

Accepted Answer

A "profile check" is mandatory in order to use the platform.

Once you have logged in for the first time, follow these steps:

Phone verification: you will have to enter the area code (+39 for Italy) and your mobile number; then click on "send verification code". You will receive a code via sms on your mobile phone which you have to enter on the EvenFi website.

You will then have to fill in the fields 'profile', 'address' and 'identity'. For verification of the latter, please refer to the helpdesk section "Sending documents".

Question 6

Modify Profile data

Accepted Answer

Profile data cannot be changed by the user. To edit them, please follow the steps below:

Log in
Open the chat on the bottom right
Write your request to customer service

In a maximum of 48 hours the data will be changed as requested.

Frequently Read Articles

Browse All Categories