With Perfect Money, you can even give a loan to other users of the system.
If you want to lend your money to someone and profit from this transaction, then you have two ways to do that:
- Create an offer to make a loan which will be published in the public area of the Credit Exchange and await any responses to your offer.
- Locate an existent request from a borrower and to make an offer for a loan.
Let’s look at each option individually.
1. The creation of the loan offer
In order to create a loan offer you need to click on the “Give a loan” button in the main menu of the Credit Exchange.
Then follow the steps below.
- In the section opened specify the terms of the deal.
- First of all, specify from which of your accounts you would like the money to be lent.
- Further specify the amount you would like to give as a loan.
- In order to keep your transactions safe and make loans to clients with a high trust score, you can set the acceptable TS range. If you specify the TS range, only those with the matching trust score will be able to make deals with you.
- When filing your offer to lend you should define the loan repayment period measured in days.
- Set the interest rate for the loan you are offering. This interest will be the profit you are to make.
- You don’t have to publish your request to the public listing but to specify your agent’s account so that your request will go directly to the person you worked at the Credit Exchange before and who is on your list of agents.
- When forming your request it is important to fine-tune the process of deal making. If you want your deal with a borrower to be made automatically after he/she approves your offer, then you need to set your status to “Automatic”. If you want to get to know the potential borrower better, then you need to adjust your status settings to “Manual”. In this case, right after the user who wishes to borrow from you sends you his request to make a deal, you will receive a notification. If you are completely satisfied with everything, you can approve the deal in “My requests” section.
After you pointed out all the terms of your offer to lend money, click “Preview”. Then once again review all the parameters of your offer, and if satisfied, click the “Create” button.
Right after you press the button your offer will be posted to the public listing of requests; the amount you wish to lend will be deducted from the account you specified. This amount will be transferred to the Credit Exchange account.
2. Locate an existing request form a borrower and make an offer to lend
To locate an existing loan request please click on “My Account” button at the main menu of Credit Exchange Area. Look through the list of requests to borrow. For a complete list please click on “View all requests to borrow”.
Pay attention to specific terms specified by the borrower, such as loan length and percentage rate to determine if the conditions of the loan are appropriate for you.
Borrower’s Trust Score will be useful as well.
Once you have found a request that meets you criteria, click on the link located under Action.
At a Give a Loan page of Credit Exchange area you have an opportunity to review the terms of the loan you are about to give. If you agree with the terns please select an account you would like to use to fund the loan and click on preview.
Review the terms of the load once again and proceed by clicking on “Give Money”. Once the “Give Money” bottom is pressed you have agreed to the terms of the loan and a transaction is made appropriately. If you have changed you mind, please click on “Back”.