Beelend Review: The Marketplace for borrowers and Investors


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Interview with Mike Mills marketing and communications manager at BeeLend.
Please introduce yourself and let us now briefly your background?

I joined Beelend Solutions LLP last year and I am running the marketing and communications team. Beforehand I worked as a freelance marketing specialist.

What is the mission of BeeLend?

BeeLend is a digital platform to facilitate direct lending between individuals. It connects investors, creditworthy borrowers and – optionally – guarantors to strike the best available loan deals amongst themselves.

Can you describe BeeLend in numbers?

Currently, the platform has more than 16 000 active users. The number of borrowers is close to 14 000, whereas there are close to 2 000 investors (lenders) and close to 1 000 guarantors.

Can you give us the history of BeeLend?

After 2 years of development, the system went live in the first half of 2018.

How does BeeLend generate passive income to investors and guarantors?

Investors lend money to borrowers and earn interest on these loans. Guarantors are paid the fee of the guaranty.

What are the risks for investors and guarantors on Beelend, how can they protect themselves from these risks?

The main risk is the late payment or the default (bankruptcy) of the borrower. If the loan was guaranteed the investor can also turn to the guarantor for immediate recovery. The guaranty is limited to the amount set by the guarantor and only covers the principle that comes due under the loan agreement. If in the event of the borrower’s default the guarantor has made a payment to the investor then the borrower is required to reimburse the guarantor.
Investors are encouraged to engage in multiple loans at a time because diversifying their investments help them minimize losses on individual loans.

What kind of credit checks does BeeLend do on borrowers and guarantors?

BeeLend assigns a Risk Rating to each of the borrowers (guarantors) based on their personal, professional and financial details published on their BeeLend profile. A credit check is only a preliminary assessment of a borrower’s solvency and is based on data that is provided by the borrower. If the investors find fake data on a borrower profile in the verification process then they should also question the borrower rating. The same applies to guarantor ratings.

How do the statistics of repayments from borrowers and guarantors reflect these risks?

We have not received complaints from investors on defaults yet.

What is the success rate of returns from default?

We do not have data on this so far.

What new features will BeeLend release in the future?

We are just about to launch a new payment option. Members will be able to pay the listing fee to BeeLend in cryptocurrency.
For more information please visit: BeeLend.com
We thank Mike Mills for the interview.

Notice:

    • The answers have been provided by the interviewee.
    • This is not a buy, sell or hold recommendation of any assets mentioned in this interview.
    • Do your own research before you invest in anything.
    • This press release/article/interview has been published for free.

Not investment or financial advice. This is not an endorsement or recommendation to buy, sell or hold.  The staff of this site may own the asset/s mentioned on this page. Investing is risky and you may lose all your capital. Do your own research. See full disclaimer.

We receive no direct payments from the mentioned companies. Some links on this page are affiliate links, at no extra cost to you, we may receive commissions when you use them. However, we try our best to keep our articles fair and balanced.


   

Author: Jim Reynolds
Jim Reynolds. Is passionate about finance, passive income and cryptocurrencies. He writes about his passions on NodesOfValue.com. He has worked in the tech and financial industry for a few decades. He holds a masters in business admin and a bachelors in IT. All his writings are not investment advice.


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