iBAN is a Crowdlending platform that connects borrowers and investors. This is basically the quintessential business of banks - only iBAN is faster, easier, digital and operates worldwide. Investors will obtain a way to invest their money on highly attractive terms - and at the same time provide money to people (and businesses) across the globe for their economic development.
We capitalise on the fact that the interest rate is not uniform around the world. While there are historic low interest rates in countries such as the UK, developing nations such as the Dominican Republic are experiencing an economic boom, with a correspondingly high level of interest rates. iBAN utilises this fact - for the benefit of all stakeholders.
As an investor, you could earn up to 8.5% APR (11.5% when using a coupon from this campaign) on any investment with iBAN.
We are a new start-up in an expanding market, in which demand for our loans is rapidly increasing. This campaign aims to spread knowledge of iBAN, demonstrate to people that this is a cause worthy of investment, and open an iBAN account – the ‘rewards’ offered for pledging to the crowdfunding campaign are explained below.
The borrowers are individuals and businesses here who need funds for business or private purposes - just like people all over the world. Currently iBAN is represented by two offices in the Dominican Republic; Santo Domingo and Santiago de los Caballeros. We also just opened our first office in Bogotá, Colombia!
On the iBAN website the risks and risk minimisation measures are described in detail, but in summary:
- Application process of borrowers: only suitable candidates get a loan - for a screening process candidates are classified into a risk category. Depending on the iBAN product, the borrower must own property (iBAN account, iBAN One) or a vehicle (iBAN Market, iBAN Investor) and show a corresponding high credit score (all products - some lower requirements for iBAN Investor).
- Guarantee Fund: Each borrower pays fees on the loan in a guarantee fund, which can absorb 10% loan losses without financial penalty to the lender (this does not apply to the iBAN products iBAN Social and iBAN Investor)
- Diversification: The invested money is divided into many small amounts that go to different borrowers. In this way any potential loss resulting from a loan default would be spread across many people, lessening the effect on any individual lender.
So, onto the good stuff! You can ‘pledge’ £5, £15, £50, £150 or £300, which will bring our campaign target of £3000 one step closer. This money will only be taken from your account if the campaign goal is achieved!
When you pledge, you will receive an email containing a coupon with a link (unless you have chosen one of the iBAN Social Options). If you click the coupon link, you will automatically be redirected to the iBAN site where you can open an account.
Your newly opened account is credited with the amount that you pledged in this crowdfunding campaign, and you additionally receive up to 3% extra interest on your first deposit! E.g. if you invest in the iBAN ONE product, you will get 7.5% interest per year instead of 4.5%.
If you like the idea of iBAN and want to spread the word, you can pledge as a “partner" or "ambassador". Here you will not only benefit from 3% a year bonus interest on your first deposit, but you also have nine of the same 3% coupons to distribute to people you know. You then get credited with 1.5% or 3% of whatever their first deposit is, for partner or ambassador respectively.
Another note: Interest coupons cannot be combined with coupons of the same type, and the maximum combined rate advantage is 3.5%.
Take a look at our website - if you have any questions, just send an email to me at email@example.com. If you like what you see (which we’re hoping for!), then pledge for a coupon and open an iBAN account. As soon as you invest you can benefit from the interest for your first deposit!
NB: Please don't make your pledge anonymous! We want to give you your rewards as quickly as possible, so don't be modest!