No, not everyone can apply for a loan through Cashare. The platform implements a strict screening process for all loan applications to protect both lenders and borrowers. These measures aim to minimize the risk of over-indebtedness and ensure financial stability for all parties involved.


Requirements for Individuals

Individuals wishing to apply for a loan through Cashare must meet the following criteria:

  1. Legal Age
    Only adults are eligible to apply. Minors are excluded.
  2. Financial Stability
    Applicants who are undergoing private bankruptcy, are under guardianship, have active debt collection proceedings, or hold loss certificates are not eligible to apply for a loan.
  3. Residency and Immigration Status
    The applicant must reside in Switzerland and hold a valid residence permit. Individuals with expiring or uncertain residency permits are excluded.
  4. Creditworthiness and Affordability
    The requested loan amount must be reasonable based on the applicant's financial circumstances. A detailed affordability check ensures the repayment of the loan is feasible without leading to over-indebtedness. Applications that do not meet these criteria will not be published.

Requirements for Businesses

Businesses seeking a loan through Cashare are also subject to thorough scrutiny. This process includes:

  1. Creditworthiness
    A detailed assessment of the company's credit rating using external data sources and internal evaluations.
  2. Financial Capability
    Verification of the company's financial stability and ability to repay the loan within the agreed timeframe.
  3. Headquarters in Switzerland
    The company must be registered and operate within Switzerland.

Reasons for Loan Application Rejection

A loan application will be rejected if one or more of the following conditions apply:

  • The applicant is underage.
  • There are ongoing debt collection proceedings, loss certificates, or private bankruptcy.
  • The applicant is under guardianship or legal protection.
  • The applicant holds an expiring or uncertain residence permit.
  • The requested amount exceeds the limit deemed reasonable by the affordability check.
  • The business or individual cannot demonstrate sufficient creditworthiness.

Through these strict criteria, Cashare ensures that the platform is accessible only to borrowers who meet the necessary requirements. This protects investors from unnecessary risks and borrowers from financial overextension.

 

Was this article helpful?


0 out of 0 found this helpful
Have more questions? Submit a request

Comments

0 comments

Article is closed for comments.

Frequently asked question

Haven’t found the answer?

Our team is only one e-mail away and will be happy to help

Delia Aellen
Delia Aellen
Jannis Schriever
Jannis Schriever
Titus Spirig
Titus Spirig
Ruben Rodrigues
Ruben Rodrigues