To try your hand in the world of P2P Lending, try Nibble, the platform to guarantee reimbursement in the event of insolvency of borrowers
Today I want to talk to you about Nibble finance, a new crowlending platform that allows natural and legal entities to invest in loans already issued by the companies that belong to the parent holding company, which can boast many years of experience in the alternative lending market.
The peer-to-peer lending, or crowdfunding of the loan between individuals or between individuals and companies, represents an excellent opportunity not only for those who are looking for new ways of financing for their personal and / or entrepreneurial projects, but also for those who want to focus on new forms of investment.
Shall we go and see what it is? Then read the paragraphs that follow.
Index
- How does Nibble finance work
- How to lend money with Nibble finance
- How to register on Nibble
- How to Start Investing in Nibble
- What are the costs of Nibble Finance?
- Is Nibble Finance safe?
- What are the opinions on Nibble?
- Join the jadnews Club. It is free!
How does Nibble finance work
The platform Nibble finance, or simply by the Nibble, it is based on the model of “Peer toPeer” or “P2P” Lending. It offers, in fact, the opportunity for non-professional investors to invest in financing and alternative loans already issued by the companies of the Smart Finance IT holding company.
It should be noted that all financing products now made available to customers by the group fall into the category of personal loans for liquidity and are divided into two categories:
- Short-term loans (PDL): loan amount up to €500; loan duration up to 30 days;
- Instalment loans: loan amount up to €1000; loan duration up to 90 days.
Who can lend money with Nibble finance?
All natural and legal persons who have reached the age of majority and are resident in a European Union country, as well as Switzerland and the United Kingdom, can lend money with Nibble.
What is the minimum and maximum investment amount?
The minimum investment amount is €10. The maximum amount depends on the type of product:
- Without limits for long-term investment;
- 300 € for test investments.
How to lend money with Nibble finance
Nibble finance enables its investors to create an investment portfolio in a fully automated mode. By subscribing to the platform, you will therefore be free to establish the countries in which to invest, the modalities and duration of the investment.
The investment methods currently provided by Nibble are:
- Classic Strategy: 65% interest rate, investment period from 1 to 6 months, Investment amount from €10 to €10,000;
- Balanced Strategy: interest rate 12-15%, investment period from 7 to 60 months, investment amount from 100 to 10,000 €;
- Special Strategy: 17-19% interest rate, investment period from 12 to 60 months, investment amount from 500 to 10,000 €.
As long as the loan is active, you will continue to receive your income; at the end of the loan duration you can also decide to reinvest the capital in order to increase your income. This way, your money will be automatically reinvested into new loans.
How to register on Nibble
To register on Nibble you need to access the “create an account” section and enter the required data:
- Name and Surname
At this point you will be sent a confirmation e-mail with the password that was assigned to you during activation and a link on which to click to proceed with the activation of the account.
After this phase you will also need to provide:
- Phone number of telephone contact
- Your date of birth
- Series and document number
- Address of residence
- Name of the bank
- Number of the bank account
- New password
To start investing you will also have to check your identity by inserting a front/retro image of the identity card or the driving license. Then use the web cam of your computer to take a selfie and compare your photo with the one on the document.
How to Start Investing in Nibble
After completing the registration process, you will need to create your own deposit account and make the first reload from a checking account to you. You can’t use current accounts to other people.
In addition, each deposit on your Nibble account takes 1 to 3 business days before being loaded. The service will notify you after the money has been deposited on your personal account balance.
Until you have made the first reload with a minimum amount of €10 and a maximum of €10 you will not be able to start investing.
How can I control my Nibble investments?
You can check whenever you want your investments and balance by entering your personal account through username and password.
How to contact Nibble Finance in case of problems or to close the account?
The following contacts are available on the website:
- Telephone: +3726991410 and +34931870110;
- E-mail address: support-nibble.finance.
Going to the site there is also a live chat for online support.
It is also good to know that once an investor has created an investment portfolio, they will no longer be able to cancel it even if it can remain inactive.
How can I withdraw funds from my Nibble account?
You can withdraw funds that have not been invested in loans from your Nibble account using a bank or electronic account.
What is the interest rate of investment with Nibble?
Nibble guarantees each investor an investment income of up to 19% per year, higher than the average profitability of the market, even when the repayment of the loan is delayed by more than 60 days.
What are the costs of Nibble Finance?
Nibble finance it does not charge any type of cost or commission either for enrolment or on the interest accrued for each investment.
What taxes are charged on the profits made with Nibble?
The income earned with Nibble is taxed in accordance with the tax laws of the investor’s country.
What happens if an applicant does not pay?
If an applicant/borrower does not pay, once the 60 days of late payment has passed, investors have the opportunity to recover the funds paid together with the interest accrued thanks to a special repurchase guarantee.
Is Nibble Finance safe?
Nibble offers a high investment protection system, as loans are issued by companies belonging to the IT Smart Finance Group.
All loans disbursed go through a multi-level verification system and each potential borrower receives a score rating (scoring) on its creditworthiness related to their credit history.
From the total amount of requests, the level of acceptance for primary customers is 10%, which allows the company to control the risks and guarantee reimbursement to investors even in the event of insolvency through the repurchase guarantee.
This, as we have seen, means that in case of delay of the payment of a loan, the company that issued it guarantees the repayment on the 61st day.
For its operation, Nibble platform also uses patented software solutions, developments in megadata analysis and in the field of Credit Scoring and risk management systems.
This guarantees complete reliability to customers and investors.
What are the opinions on Nibble?
At the moment there are not many online user reviews on the Nibble platform, so it is not possible to make a judgment about the opinions of its users.
I just have to express some personal considerations.
As you have already understood, Nibble falls into the category of indirect P2P investments as investors acquire credits not directly from borrowers but from an intermediary, in this case Joymoney.
One of the disadvantages of this type of crowlending is that the investment structure is often less simple and less transparent than that of direct investment. As a result, it can be more difficult to assess the risks associated with indirect investments, as you are investing or lending your money through third parties.
