This is a sponsored post created in collaboration with Good Finance, but did not affect the content, which is also my own experience with Good Finance)
I have already often about Good Finance reports and how investors can invest their money in individuals’ loans. If you want, you can register with Good Finance and get an overview, you will get 5 Dollars and you can invest them right away.
Of course, such providers always ask themselves how reputable they really are and especially if, for example, they are not based in Germany like Good Finance. From my experience, I can say so far that this is a reputable provider and I would like to clarify three questions.
What about the repayment of the loans?
As described at the beginning, investors invest their money in private individuals’ loans. These come from Good Finance Spain, Estonia and Finland. One or the other will probably also think about what it actually looks like with the payment policy, because after all, you as an investor would like to get back your invested money.
Good Finance is of course interested in a timely repayment of loans to investors and has introduced a multi-stage collection process, which is initiated at the borrowers, should it ever to delays in repayment.
As an investor, you do not notice much of it. I only look in the statistics, which amount is overdue. So the outstanding capital in my portfolio currently amounts to 7.72 Dollars, which is opposite, but already paid a return of over 70 Dollars.
What about the sale of the loans?
Good Finance offers the opportunity to resell its portfolio of loans or part of it. The loans are made available on the secondary market to other investors who can then buy them. I myself was of course curious and have tried the sale, while I also realize that it is the P2P loans * actually longer-term investments.
I did not have to do much for the sale itself. Simply click on your Portfolio Manager and go to the “Selling Loans” section where you will find the amount to be sold. Then you have to confirm the sale of the loans and the Portfolio Manager takes care of the rest.
I first assumed that it would take a while for the credits to be sold and I get Grisette. However, I was wrong with my expectation and a large part of the portfolio was already sold within 10 minutes, which I find very positive.
What about the payoff?
Anyone who wants to withdraw part of his return or has made part of his portfolio back into money, of course, is interested in this question. I also tried the payout. Do you want to withdraw money, Then you have to select the menu item “withdraw money” and determine the amount, which should be transferred to you.
Then you choose the transfer form, whereby I have opted for the classic Sepa transfer. Good Finance pays out money to investors twice a day and states on the Sepa transfer that it can take 2 to 3 days for the money to be transferred. How did it look like with me? After I applied for the withdrawal, it did not even take 24 hours and the money was in my account at 8 o’clock the next day.
I have only had good experiences with Good Finance so far. The return of over 70 Dollars after 5 months can already be seen. The provider makes a respectable impression on me and it speaks so far nothing against it.