FAQ Category: Borrowers

How can I refer a business contact to you?

We welcome referrals. A referral fee of between $1,000 and $2,000 will be paid to you should the company you referred be successful in raising funds through our platform. Minterest reserves the right to amend or alter this incentive at any point in time.

Is a personal guarantee required?

A personal guarantee is required for all Loan Requests except for Convertible Loans. Personal guarantee is also required to guarantee the repurchase of invoices pursuant to an invoice financing.

What happens if there is a late repayment?

When a late repayment occurs, you are encouraged to settled the outstanding payment as soon as you can. We will work with you to identify and resolve the reasons for a late repayment. You will be charged a late payment fee amounting to 2% of the loan principal outstanding or $2,000, whichever is higher.

Can I make a prepayment on my loan?

We do not expect many borrowers to be making a prepayment on their loans.  As such, we have not provided for prepayment of loans in our Platform Terms. However, we can consider the prepayment provisions on a case-by-case basis. 

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