Big banks only approve around 20 percent of loan requests they receive. This makes the availability of startup loans a key factor in your pursuit of a startup loan. Bitbond makes startup loans available by connecting entrepreneurs with investors from around the world, creating a platform where financing can take place, and startup loans are funded.
Lower interest rates for your startup loan
With interest rates starting at 7.7%, Bitbond offers a more competitive service than traditional p2p lending platforms, meaning that you can get your startup loan for less. Bitbond also has lower origination fees than other lending platforms. The origination fee you will be charged at Bitbond for taking out a startup loan varies between 0.5% and 3%. This compares favorably with the 1% to 5% other platforms will charge you, allowing you to get more bang for your buck.
Additionally, Bitbond uses bitcoin to fund its startup loans, meaning that there are no transfer fees and lower exchange fees than would be incurred with p2p lending sites that do not use bitcoin.
Exchange rate pegged startup loans
A startup loan with Bitbond gives you the speed and internationality of bitcoin, while providing the security of the dollar. This works by providing exchange rate pegged startup loans; startup loans which use the US dollar as the underlying base currency.
This way, borrowers can mitigate the exchange rate risk that is inherent in bitcoin.
Easy application for startup loans
In order to apply for your startup loan with Bitbond you are asked to connect your social media accounts. This is a read only access and allows us to assess your creditworthiness. In the case of startup loans, connecting an impressive LinkedIn or eBay account, can give you access to lower interest rates for your startup loans.
Therefore, if you have an impressive payment history on PayPal, a successful selling history on eBay, or are well rate well on FriendlyScore, you can now make it work for you and gain access to lower interest rates for your startup loans.
The entire borrower application has just been re-disgned to make the user experience even more smooth, and completing your startup loan request takes less than 15 minutes. Be sure to have a scanned, easily legible copy of your drivers licence, and utility bill handy before starting, to maximize ease of use.