What is crowdfunding?
The idea of Crowdfunding is to help smaller businesses grow by securing better deals for unsecured or secured business loans. It has reinvented the old and outdated traditional banking system and the concept is becoming a global success. NGI Finance is a Gold Broker for one of the largest peer to peer platforms in the UK and it is used solely by small businesses. There are currently over 40,000 investors taking part in funding and these can include the UK government, universities and other financial organisations.
How it works…
In this first stage NGI Finance will discuss your requirements and advise you if your business is eligible for the Unsecured Business Loan product. Once financials have been received NGI will complete your application form and submit it to the lender for approval. Decisions are usually made within 48 hours.
The minimum criteria for funding is:
- Annual Turnover of £50,000
- 1 years filed prepared accounts
- 2 years trading history
If your loan requirements have been accepted then the lender will grade your investment opportunity with a risk band. This helps investors to examine the level of risk associated with that investment but it also helps the business to identify a relevant and good deal for them.
Loan Is Submitted On The Marketplace
Once the loan has been accepted and the risk band has been decided the loan is then listed onto the marketplace, for the loan to be funded .
Accepting Your Loan
Once your loan is fully funded the loan can be accepted and funds paid into your bank account immediately.