Re-Lender Review

4.4
40 votes
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Introduction Re-Lender

Re-Lender is the first global crowdfunding conversion site that collects funds that revitalize communities and the surrounding environment. In other words, they claim Re-Lender is the first crowdfunding platform dedicated to industrial, ecological, real estate, and technological conversion. Via their renowned platform for providing advice, they plan and handle all facets of the dynamic phase of industrial conversion. They require direct creative investments that begin at €50.

The company says it provides a flexible and effective method of financing to address the liquidity crisis of Italian SMEs caused by the coronavirus. Re-Lender connects promoters who request financing and users registered on the platform who want to make use of their savings. The company doesn’t give a lot of background information on the official website on its beginnings and team.

 

Overview
4.4 stars

Advantages

  • Zero commissions at all times
  • Minimum investment 50 EUR
  • Free registration

Disadvantages

  • Scarce information on the website

The platform

The Re-Lender website displays enticing investment/lending projects, from a logistics center all the way to pharmacies and apartments. Not all of them have the same goal – some are intended for revitalization (general restoration), while the goal for others is to make them more green.

How does Re-Lender work?

The process of launching a project has 3 phases:

  • ANALYSIS OF REQUESTS: In the first phase, the companies requesting a loan are subjected to in-depth due diligence by Re-Lender: Subsequently and before collection, each company will be assigned a scoring through Modefinance (the first Fintech Rating agency in Italy) which will determine the interest rate for the lender.
  • COLLECTION: Projects verified through the selection process are published with the aim of allowing users to lend through online collections. At this stage, subscribers to the platform can lend to requesting subjects by indicating the amount they want, starting from a minimum of € 50.
  • PROJECT DEVELOPMENT: Once the collection phase is completed, the launch of the project is formalized. The applicant firm receives the funds and the lenders begin to accrue and receive interest according to the published amortization schedule. The repayment of the capital also takes place on the basis of the amortization plan agreed with the company.

Inside each loan you will find the necessary documentation to analyze the project, the duration, the expected interest rate, and the level of risk that it has obtained from the analysis prepared by the company ModeFinance (the first Official Fintech rating agency). Platform users will always be free to decide which project to lend to.

Once the description and documents of the project have been displayed, just enter the quantity you intend to lend and confirm the operation. If the account balance is sufficient to carry out the operation, just follow the authentication process via SMS. If the balance is less than the amount you intend to lend, it will be possible to top up the difference through online payment by credit/debit card.

It is possible to lend starting from € 50 per project, there is no maximum limit. Using a credit/debit card, every single transaction has a maximum limit of € 1,500. To operate on the platform, loans must be at least equal to or multiples of € 50 (therefore from €50, €100, €150…). The selection of the projects and the operations must always be carried out personally by the user. The projects that are published on RE-Lender concern exclusively companies that carry out industrial, ecological, and real estate conversions. The type of loan is the so-called “bullet crowd” where the interest is repaid monthly and the capital on the expiry date of the project.

The published projects have a fixed interest rate, provided for in the contract with the applicant company. This means that the interest rate is not estimated and will not depend on the proceeds obtained from the conversion. Projects will have an 8-10% return calculated based on the duration and risk of the project. It is possible to use the yield simulator while the projects are in the collection phase and in the purchase phase of shares. Just enter the amount you want to lend to get your total gross return.

The contract enters into force from the moment in which each project concludes the financing phase. You can request customer service to cancel an operation only while projects are being collected. With the formalization of the loan and the closing of the collection, it will be possible to sell one’s shares.

 

What does it offer?

  • The company provides real estate opportunities in Italy.

How to get started? 

What are the steps you take as a Re-Lender investor/lender that’s not a legal entity? First, you will register and complete the verification process. This takes a minute and it’s free. The registration process requires uploading a valid ID. Here are the steps:

  1. Click on the “register” button on the homepage and fill in the form with your details.
  2. Confirm your email address from your inbox.
  3. Insert a valid ID, with a good resolution, uploading both the front and the back. You can use your identity card or passport (remember to specify your residence in case you use the latter). Driving license and health card are not considered valid.
  4. Wait for the email confirming the activation of your profile (24-48 working hours).
  5. Make the first transfer to complete the activation. After receiving the first transfer you can also decide to pay directly by paying with the card on the chosen project.

After the verification is done, you can start undertaking transfers. You will be able to lend straight to the top conversion projects by receiving monthly interest. To get started with investing at Re-Lender, you need a minimum of 50 euros. There aren’t any commissions. You get monthly returns.

 

Regulations

Who can take part as a lender?

  • Individuals, adults, both Italian and foreign.
  • Legal entities (companies), both Italian and foreign.
  • Account opening by individuals with tax residence in countries considered at risk by the International Financial Action Group (FATF) is not accepted: Afghanistan, Barbados, Belarus, Burma, Bosnia and Herzegovina, Bosnia, Burundi, Korea, Egypt , United Arab Emirates, Ethiopia, Guatemala, Guinea, Guinea-Bissau, Iran, Iraq, Lebanon, Libya, Macao, Mali, Mongolia, Namibia, Panama, Central African Republic, Congo, Russia, Samoa, Somalia, Sudan, Sri Lanka, Syria, the United States, Ukraine, Venezuela or Yemen.

Risks and securities

In specific cases, the payment institution (PayArea) requires additional documentation on the origin of the funds (for example payslip, pension, tax return …) for the guidelines provided for by the anti-money laundering legislation, all to ensure transparency and security for every operation.

All projects distribute interest monthly, with payments starting from 30 days following the closing date of the collection and, specifically, within the first 5 following working days.

For example, if a project ends the collection on January 20th, the first interest payment will be made starting from February 20th, within 5 working days. Re-Lender acts as a definitive withholding agent for users who have Italian tax residence. The tax applied will be equal to 26% of the interest obtained from the loans.

The yield is paid to the lender who has the loan in his portfolio on the day the interest is paid.

Customer Service

  • Re-Lender lists a phone number and email address:
    • +39 02 92 85 88 31
    • info@relender.eu
  • The company is responsive on social media, answering inquiries from followers and directing them to Messenger for further assistance.

Conclusion

Re-Lender is responsive and active on social media, but they are oddly mum on their official website when it comes to crucial lending information. This doesn’t give us a lot of hope and we are still not sure who oversees and regulates this company.

 

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