In general, the process of obtaining a loan takes place as follows:
- The Borrower completes an application, including more specific details of his / her application and other personal details;
- Fagura receives the request, establishes the authenticity of the information presented by the client, assigns a rating and, if the eligibility criteria are met, places the loan on the site for accumulation of funds from investors;
- The loan application is listed on the platform for an investment accumulation process for up to 14 calendar days. If during this time, all the necessary amount is accumulated, then the loan agreement is signed and the money is transferred. If the amount is not accrued and the borrower refuses partial funding, then the loan request is canceled and the money is unblocked in the investor's virtual account. The applicant may submit a new loan application.
Fagura determines the authenticity of information about the borrower with the help of available data providers such as credit bureaus, state registers, etc. However, it is necessary to understand that Fagura does not have the possibility to verify all the information presented, so by selecting a particular loan for financing, the investor is the only one who fully assumes the risk of erroneous information submitted by the borrowers. Certain information that can be confirmed by Fagura is made through access to authorized national registries, where the applicant's credit history and work experience is listed.