For years, people have been raising funds for important things like unexpected medical expenses or important charities. Using that same idea, SyndiCrowd created a platform where a business owner can ask investors for loans and then arrange a repayment schedule that works for both of you.
What Should I Know Before I Apply?
SyndiCrowd requires your loan to be in one of the following categories:
- Auto Loan
- Consumer Loan
- Mortgage/Real Estate
When you apply, your loan is pooled with other borrower's requests in order to look more favorable to the investor. The investor ends up agreeing to fund one consolidated loan with SyndiCrowd Funding acting as the mediator. You pay the loan back as required, plus the interest you agreed to when you accepted the loan terms.
How Much Will I Pay in Interest?
The amount you pay depends on your loan terms. Most SyndiCrowd loans have interest rates ranging from 9 to 25 percent, so they're much lower than the interest charged when you take out a payday loan or expensive business loan to cover your company's expenses.
How Do I Get Started?
The loan form at SyndiCrowd is easy to fill out. Provide your first and last name, contact information, and your time zone. Be prepared to provide your business's balance sheet for the past three years, proof of experience in your field, and a loan amount of $5,000 to $3,000,000. Check out SyndiCrowd today. The application is easy to complete and you won't have to wait a long time to get an answer.