How do we Make Money?

In striving for transparency, FINT has no hidden charges and the costs to our borrowers and investors our laid up front on our website; so they know what they are getting. The The FINT platform makes money from four primary fees.

  • FINT Verification Fee — FINT, being a Peer-To-Peer lending platform needs to give comfort to the lenders by ensuring that all borrowers that qualify for a loan are verified. FINT makes use of third party services to verify the home and office addresses of intending borrowers. The verification cost  ₦3,000.
  • Borrower Commitment Fee — As part of our pay for performance model, the borrower commitment fee is only paid when a borrower’s loan has been fully funded. The borrower pays 8% as a commitment fee to FINT. (i.e if a borrower gets a loan of ‎ ₦100,000, the borrower pays ‎₦8,000 to FINT as a commitment). Borrowers have the option to have the amount deducted from the loan amount or paid upfront.
  • Investor Subscription Fee — The Investor fee is only paid when an investor receives his investment (principal and returns). This is a 1.5% fee on the total amount paid back to the investor from the borrower (e.g an investor invested ‎₦100,000 and was expecting a 20% return for 12 months. The total amount to be received is ‎₦120,000 at ‎₦10,000 per month. FINT will charge the investor ‎ ‎₦150 a month). Investors are only charged when borrowers repay their loan however.
  • Transaction Fees — Whenever money moves on the platform (borrower to FINT to Investor and vice versa) FINT charges a fee for facilitating that transaction. The charges go to the third party service providers that facilitate the transaction, this is typically 1.8%+100

*The interest rates displayed are not actual and was merely used as an example.

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