Borrowing between individuals with Prêt d’Union
Created in 2009, the peer-to-peer lending platform Prêt d’Union allows French households to finance their projects thanks to the savings of other individuals. And more than 210 million euros have already been lent. This was done without banks!
Created in 2009, the peer-to-peer lending platform Prêt d’Union allows French households to finance their projects thanks to the savings of other individuals. And more than 210 million euros have already been lent. This was done without banks!
Prêt d’Union, what is it?
The operation of Prêt d’Union is similar to peer-to-peer lending. This system is already well known by Americans with Lending Club (created in 2006) and the British with Zopa (since 2005). The Anglo-Saxons have even given it a name: "Peer-to-Peer Lending." It is a real revolution in a sector still under the control of banks. This is true even in France, where Prêt d’Union operates. However, banks still hold a very large share of the 35 billion euros that the French consumer credit market represents each year.
How does Prêt d’Union work?
On closer inspection, Prêt d’Union offers a very simple system. On one side, there are people wishing to invest their savings at an advantageous rate. On the other side, individuals like you and me who want to borrow some money to finance one of their personal projects. Practically, everything happens online and transparently. Indeed, Prêt d’Union acts as the link between lenders and borrowers. Then, the interest repaid by some is directly passed on to the others. So, a virtuous circle is set in motion.
How to make a request?
Let's take a very simple example: you want to redo the decoration of your apartment. Since you are resourceful and have handy friends, you have decided: you will do the work yourself. By visiting hardware stores, you estimate the materials and tools needed to cost about €6,000. If you prefer to keep your savings, you can make a request via the renovation loan form. This allows you to spread the repayment over 2 to 6 years. By making your peer-to-peer loan request directly online on the Prêt d’Union website, you will get an immediate preliminary response. If your request is accepted, you will just have to send back the file with all the supporting documents. After a thorough analysis of your file and its final acceptance, the funds will be quickly transferred to you.
Convinced by this new way of borrowing between individuals and without banks? Feel free to visit the Prêt d’Union website for more information or to make a request directly: http://www.pret-dunion.fr
