Review of Bitbond
Interest rates of 9% to 35%
Loans up to $25,000
Fast approval process
Regulated financial institution
More than 1,800 investors
What Is Bitbond
Bitbond is a global marketplace lending platform for small business loans. Bitbond is a regulated financial institution in Berlin, Germany which connects creditworthy borrowers with investors.
As a peer to peer lending platform, Bitbond leverages blockchain technology to facilitate loans of up to $25,000. Most of the borrowers are eBay sellers and online small businesses.
The application process is straightforward and the services are conducted online, independent of banks.
Bitbond is a Platform for Smart Investors
Investors can invest in USD or EUR denominated Bitbond loans, while at the same time diversifying their portfolio globally.
The automated process makes the application process fast and easy to complete. The main advantage Bitbond has over conventional banking systems is that the process is not expensive.
There are no lender fees or prepayment fees for Bitbond loans. Borrowers get loans in a quick and uncomplicated way.
Bitbond offers unsecured, peer-to-peer small business Bitcoin loans.
Investors can fund Bitbond loans for small business owners around the world. The AutoInvest tool ensures you are less exposed to economic cycles in various countries.
Currently, there are over 1,800 investors that have funded more than 1,300 Bitbond loans.
Borrowers are checked through video identity identification and a thorough creditworthiness assessment.
Applicants grant Bitbond read access to their business and seller accounts.
How Bitbond Loans Work
You open an account with Bitbond and you will be provided with a link. You will then be asked to complete an online application form.
The platform will check your credit profile and your rating will depend on the type of business, revenue, or customer rating.
The entire Bitbond loan approval process is fast as opposed to conventional banking systems. Here is how it works:
- A credit rating for all borrowers is performed, from A to Z.
- For borrowers who are not covered by conventional credit bureaus, alternative data for credit scoring is used.
- Once rated, borrowers list a project on the marketplace.
- Investors then choose which listings they are interested in.
- Borrowers can receive up to $25,000 for business loans, starting at 1% monthly.
As an investor, you have the option to manually pick the Bitbond loans you want to fund or use the convenient AutoInvest tool.
This tool lets you create a diversified portfolio of Bitbond loans across many countries according to your preference.
Borrowers receive lending at affordable interest rates because of the peer-to-peer lending system. On the other hand, individual investors access profitable interest rates.
Bitbond will review your business revenue and award you a rating. After you connect your business accounts such as eBay, PayPal, or Amazon, you will be ready to request your loan so that you can grow your business.
Approval for a Bitbond loan is within 24 hours and the application process is free.
Rates & Fees
With interest rates of 9% to 35%, Bitbond safeguards fixed-income investments. The expected return is approximately 13% per year.
Bitbond Loan term ranges from 6 weeks to 5 years. You keep all the returns from your fixed-income investments.
Our Bitbond Review
Business loans up to $25,000
Origination fees of 0.5%
No minimum credit score required
Fast and secure transactions
Excellent customer support
Short auction period for large loans
BTC price fluctuations
Bitbond is ideal for online sellers who earn between $50,000 and $1.5 million a year. The platform offers an interesting approach to small business loans, involving investors from around the world who decide whether they want to fund a loan.
According to the company’s founder, Bitbond’s focus is on bridging the gap between businesses and investors globally.
To guarantee fast and secure payments, the company developed a unique blockchain platform that serves a large community of Bitcoin users.
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