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If you are looking for ways to grow your savings, loans direct lenders among people can be an option, so we tell you in this article how to get them.

Good Finance is the first platform for loans among people in Mexico, which means they bring together those who need a loan with whom they decide to fund it. The loans, which can range from 10,000 to 250,000 pesos, are funded among several lenders, which undoubtedly decreases the risk, and that is not the same as lending 250 pesos to risk taking a single blow 10,000 pesos since the irrigation you assume in each loan is proportional to the amount you lend.

The interest rate at which money is lent depends on an algorithm

The interest rate at which money is lent depends on an algorithm that analyzes credit history numbers; It may be a bit complex as this works, but in practical terms, several factors analyze credit applicants in detail.

So a person who has an excellent credit history can get an annual interest rate from 8.90 percent, while those who do not reach excellence, but if they are good payers and have their debts under control, they could have a rate of up to 28.90 per hundred.

Steps to fund a loan application at Good Finance

Under this platform you can fund a loan from 250 pesos; Good Finance recommends that people have a capital of 10 thousand pesos and divide it into several loans, for example, 500 pesos each; This will help you generate more profits.

1.- Complete the registration on the platform:

2.- Transfer funds to your Good Finance account to make loans in small amounts to credit applicants.

3.- Interact with the applicants to decide which one you want to fund. In the interface you have access to the qualification of the applicant, the amount requested and what the money will be used for. You can request more information from the applicant, to have a higher certainty of the request that you decide to fund.

Make payments in small amounts to credit applicants

  1. Credit applicants make their monthly payments with rates between 8.9 and 28.9 percent, which helps your money grow.
  2. You can withdraw your funds every month, the payments are made or you can lend again to more credit applicants.

Under this system, for your loan, you will receive the fees that applicants pay for the credit. For the entire movement, Good Finance charges only 1% of all payments the applicant makes to the lender. Under these rules, if the applicant is required to pay a monthly payment of $ 100 for a loan to the lender, then Good Finance will charge a weight plus VAT on the payment.

As you can see this is an attractive way to grow your savings, a basic step in managing your money.