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Wisefund is a platform where individual lenders meet businesses looking for loans, bringing business lending to a more affordable level while providing opportunities to individuals letting their free funds bring stable and above the average annular returns.

Wisefund is one of Europe's P2P lending platforms where our lenders are providing business loans to European SMEs across multiple sectors of the economy.

We allow our lenders to make a difference to businesses and earn better interest rates while businesses are free to keep their focus where it should be: ­on growing their business.
As per Wikipedia article: Crowdfunding is the practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the Internet. Crowdfunding is a form of crowdsourcing and alternative finance. In 2015, over US$34 billion was raised worldwide by crowdfunding.
Peer-to-peer lending or Crowdlending, also abbreviated as P2P lending, is the practice of lending money to individuals or businesses through online services that match lenders with borrowers.

Wisefund occupies the part where businesses borrow funds from multiple lenders via the Internet for certain purposes, either project development with a clear cash flow basis or for the purpose of increasing operating capital and achieve more rapid business growth.
Wisefund has introduced its business model and legal setup to Estonian Financial Supervisory Authority and has received a confirmation that the current setup does not require the authorization from the FSA supervision.
Considering the rapid growth of the crowdfunding industry, there may be introduced regulation and licensing in the near future.
Any person can be a lender on Wisefund as long as one meets the following criteria:
a) be over 18;
b) have valid passport or ID card;
c) have a bank account;
d) you are a resident of a country which is listed in available countries during registration. (residents of other countries will not be accepted and further investor account registration will not be possible);

When lenders register on the site, we check their identity according to the highest industry standards, as well as to comply with Anti-money laundering (AML) set by the European Commission. By doing so, we know exactly who is joining our network.
Wisefund believes it is important to remember that with lending to businesses, there is an element of risk. Some businesses may not be able to fully repay their loan. If this happens, the loan becomes what is known as a bad debt or default of the loan.

All of our borrowers undergo a thorough credit evaluation process before they are approved and posted as loan opportunities on the website.

This process includes the following checks: - Credit History – the business must have a good record of managing its finances. - Affordability – the business must clearly show that it can comfortably afford the repayments. - Stability – we check each borrower’s identity and creditworthiness in detail, using the same business information that all the best financial institutions use. We also validate all their original bank statements and audited financial accounts.

Our experienced credit team reviews every application in full before offering it as a loan opportunity.

We advise all lenders to spread their money across many businesses in order to reduce their risk. By lending only a small proportion of each business loan, you reduce your exposure. This is a key factor in successful lending on Wisefund and overall in this niche.
Currently, we're not accepting legal entities as users.
Borrower Acceptance Policy For the purpose of understanding the process of how Wisefund accepts borrowers before listing them to fund their loan requests, please see insight of the process that has been integrated with Wisefund as its Borrower acceptance policy from the very beginning of the operations, with improvements over each new case. There are certain procedures that borrowers go through before they get accepted for the listing. 1) Application letter received from the Borrower. 2) The Portal conducts prima facie check of the Borrower per the publicly available information. 3) Postal offers Fee Schedule to the Borrower, and if agreed upon, further Due Diligence is performed. 4) After we determine that a applied project is a good fit, we kick-off the formal due diligence process. We review each applicants pitch deck, conduct screening calls, and complete independent research to better understand the business and, if necessary, tap into our networks to help us evaluate the following factors: Business model - How does the business make or intend to make money? How much can it make? Will current funding be enough? Market - How large or disruptive can this business be? What advantages do they have over their competitors? Is the project capable of living? Uniqueness - How is modern technology and approaches used in the business? What problem and how they are solving? Is it unique or difficult to replicate? Team - CVs, UBO information, does the team have the right people with appropriate background? Fact checking - Is the information presented in the pitch true? We verify key facts, contracts, records. As businesses are EU based this information is widely available through various business registers. Eligibility and durability - Does the project, idea and business itself have enough runway to survive without this campaign? Are the funding goals reasonable? Why specifically this funding source was selected? What are main risks behind the business/project? We do a thorough financial and legal review, and run background checks on founders and officers. All companies must be EU-based. List of liabilities due in the next 12-18 months? Preferably, Letter of good standing from a their bank and/or business partners Absence of tax debts. 5) Final decision. After completing our due diligence, we will decide whether to offer the company the opportunity to raise on Wisefund. Once the proper documentation is prepared, the project will go live on Wisefund with its loan offer for funding, where we will continue to monitor the campaign and help educate and inform investors if necessary. 6) Funding at 100% The Loan is issued only after it is 100% funded. Though if the business model allows, rounds may be closed earlier, to issue funding to the business for quicker turnaround, opening other rounds for further funding. 7) Borrower reports to the Portal on the performance of the project, the utilization of the lent amount based on the purpose of the loan either upon request, quarterly or monthly – all depends on the loan terms For any questions regarding borrower acceptance policy, please reach out to Wisefund Support.