With the arrival of fintechs in Brazil in April 2018, the peer-to-peer loan modality was entered by the Central Bank.
Also known as P2P or simply “collective loan,” the peer-to-peer allows you to purchase the loan directly from an investor, the one who wants to make a profit from interest.
In order for the transaction to take place, it is necessary to have a company registered as a Personal Lending Company (SEP).
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Inside the operation
The requirements of who can get the peer-to-peer loan are adopted by the company.
Generally, the degree of evaluation for the lender is decisive for the return of the investor. The better your rating, the lower your interest rates.
Some interest rates are set by the borrower himself, in which he can pay more for the loan knowing that he is more likely to receive the money.
In other cases, the SEP is what will determine the interest rate based on a credit analysis.
It is also possible to reduce the risk of default by investing in a fund that you will lend to legal entities.
In this line of credit it is advisable to vary the means of investing, since the profit coming from others may cover the loss of one’s debt.
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Added to the interest rate, which is the investor’s profit, the borrower has to bear the amount charged by the SEP and including the IOF (Tax on Financial Transactions).
These amounts are represented by the CET (Total Effective Cost) of the loan.
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Is P2P a moneylender?
No, peer-to-peer is not moneylender, since this practice is illegal.
Despite being a loan between people, there is an intermediary financial institution of the operation, and the client is assured by laws.
It should be noted that the interest rate of loan sharks is often abusive, different from the peer-to-peer that operates at lower interest rates.
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