Since 2017, the name Mozzena loans has been commonly found among all lenders in US. That is a platform, where members lend money to other members of the platform. The process from making money available to borrowing money is handled completely digitally. Basically, Mozzena loans in general, also called cooperation loans, are financed by other Mozzena members. Their investments are used for all kinds of projects. The interest earned with it is paid to those who have invested.
Very low interest rates
Mozzena loans generally is characterized by the particularly low costs that must be paid. This is partly because those who borrow money are rewarded for paying their monthly repayments on time. They will be refunded part of the loan application processing costs. Those who have borrowed money can also be rewarded if they generally recommend Mozzena loans to friends, family or acquaintances. If someone you have drawn your attention to the platform starts borrowing money, you will receive a one-time reward of $ 30 on your monthly repayments.
Back to old principles
The idea behind Mozzena loans is generally the way banks used to work. The savings of one client were used to finance projects of other clients. With Mozzena loans in general, the person who invests his money has an influence on the projects for which his money is used. Of course, an investor cannot make a decision about an individual project, but about the degree of risk in which his money is invested. Providing input on the investments is done with a digital system.
How is a loan made?
What is special about Mozzena loans in general is that all steps for establishing a loan via the digital platform of Mozzena loans are general. The main instrument used for this is 'Notes'. The role of the investor is of great importance in this. You must sign up with the platform as an investor and put at least $ 500 in your account. When a consumer applies for support for a personal project, that request, in particular whether it can be reimbursed, is assessed by the team.
Subsequently, the application for the credit is placed in one of the categories of 'Notes'. The investors initially choose the categories in 'Notes' in which they want to invest based on risk, and then from the separate loans in the relevant category. That way, each credit is funded by multiple investors. Everyone who has applied for a loan pays their monthly repayment. The investors receive a monthly amount that consists of repayment and interest.
What offer does Mozzena loans generally make
Mozzena lending generally is quite lucrative for consumers in need of money. If you adhere to all agreements regarding the repayments, you will receive a part of the processing costs of your loan. And if you make others enthusiastic about borrowing from Mozzena loans in general, every time a loan is taken out by a consumer brought in by you, you will get $ 30 off your repayments. These advantages enable the platform to offer loans at particularly low rates. In addition, Mozzena loans generally have a large collection of targeted loans.
If you as a consumer want to take out a loan for a car, a motorcycle or an electric bicycle that is no more than four years old, you can do this with the Mozzena general car loan. The amount you can borrow is the purchase price plus 10 percent for any additional costs, such as insurance or accessories. A condition for getting this loan is that you purchase the vehicle from a professional company. The maximum term for this car loan is 24 months.
Anyone who wants to finance a renovation in their house can do so with the Mozzena loans general renovation loan. The conditions for granting such a loan are similar to loans from other lenders. Most importantly, you can justify 75 percent of the loan amount with invoices from official construction companies. The renovation loan must be repaid within a maximum of 24 months.
You can also generally take out a student loan with Mozzena loans for the amount of up to $ 50,000. As with the other types of loans, the application is done online in five steps. An expert team assesses the application for the loan, among other things on the basis of the repayment capacity. If the application is approved, the official documents will be prepared so that you can sign them. Mozzena loans generally ensures that the total loan amount is divided among a number of investors. They finance your loan, otherwise completely anonymously.
If you would like to throw a great wedding party, you can do that with a wedding loan from Mozzena loans general. There is also a maximum amount of $ 50,000 for a marriage loan. But a wedding party can also be made complete for a much lower wedding loan. How about financing a beautiful dress or a dream location for the wedding ceremony. With a wedding loan from Mozzena loans in general you are able to give your wedding day that little bit extra, making the day an unforgettable memory.
In many cases Mozzena loans do not involve loans of many thousands of US dollars. It is also possible to apply for a loan for a trip or for a new bicycle. The minimum amount that you can generally borrow from Mozzena loans is $ 1,250. Such an amount is clear to everyone. You can make a purchase with it and pay it off in a number of months. In this way, wishes that at first sight seem unattainable can often be realized.
Those who regularly use financial support, for example from a revolving credit, a credit card, a car loan or another type of loan, it may happen that the total amount of repayments starts to grow overhead. You can then consider applying for a general regrouping credit with Mozzena loans. With such a credit, the Mozzena loans team will generally study your financial situation and try to convert all your loans bundled into a new loan. This means that the repayment term of the new loan will be somewhat longer than the original loans. But the advantage is that the amount of the monthly repayments decreases, so that you get more financial relief.
Borrowing without the intervention of a bank
Anyone who wants to borrow money can generally do this with Mozzena loans without a bank being involved. The money for the loans is made available by investors and the process of borrowing money and linking investments to it is supervised by specialists of Mozzena loans in general. As a client or investor you run no more or less risk than when borrowing from a bank. The conditions you have to meet to get a loan are identical to those with any other organization where you can borrow money. The difference is that the overhead with Mozzena loans is generally a bit cheaper.
Increasing number of loans
Mozzena loans in general started offering loans in 2017. The platform has now issued more than 2,500 loans. The amount that is borrowed is also increasing quite quickly. In the fourth quarter of 2019 and in the first quarter, the total amounted to about 2 million US dollars. In the fourth quarter of 2020, loans amounting to 4 million were provided. This strong growth in support of new personal projects is possible because more and more investors join the platform.