Cream bank is one of the providers of P2P loans operating in the Czech market.
What types of loans can you obtain from Cream bank?
Cream bank investors provide the following types of loans, with the maximum loan amount, annual interest rate and repayment period variable:
- Loan without registers and without proof of income (amounting to USD 10,000 and repayment period of either 6 months or 1 year with an interest rate of 45 – 55% pa).
- Loan without proof of income (10 000 – 30 000 USD for a maximum of 2 years, also with an interest rate of 45 – 55% pa).
- Loan without registers (10 000 – 150 000 USD for a maximum of 3 years with an interest of 30 – 55% pa).
- Loan with proof of income and registers (10 000 – 400 000 USD for a maximum of 3 years with an interest rate of 18 – 55% pa).
- Loan with real estate collateral (10 000 – 600 000 USD for max. 6 years with interest 9 – 55% pa).
How to apply for a loan?
If a client wants to apply for a loan from Cream bank, follow these steps:
- Fill out a loan application
- Cream bank will start sending an offer to its applicant-investors, whose loan requirements correspond to the specified parameters. The client can refuse any of these offers free of charge.
- It is also possible to accept more offers (ie from more investors) and to “deposit” money from several investors for your loan.
- When the applicant has selected his or her investor (s), he/she will complete his/her application and have the contract signed for signature. However, it should be remembered that this entire selection process can take up to 21 days!
- The client signs the contract and gets the money.
- More info on Cream bank – loan
- Another practical one can be found at Cream bank – hints and tips.
How to become an investor at Cream bank?
The process is similar to that for borrowers:
- It is necessary to visit and register.
- Select a suitable client from the list of loan applications and contact them with the offer.
- If the applicant has accepted the offer, before signing the contract, verify its creditworthiness in the registers (CIBR, NBCIR, Central Register of Enforcements, Insolvency Register, etc.).
- The Cream bank shall issue an appropriate contract to both parties.
- Further information on how to invest
- Other useful advice is available
What fees does Cream bank pay to debtors?
The borrower has a free application and withdrawal of the investor, only when receiving the money is 5% deducted from the loan as a company fee.