The trend is for recovery in 2015 even if the market is far from pre-crisis levels in 2008. The growth rate of loan production to households reached 4.1% on an annual basis at the end of September 2015, against 2.6% on the entire euro area.
This is partly due to the good tone of the automotive market.
In 2015, consumer loans represented 31% of the production of new loans to households.
The average effective rate (in the narrow sense) of consumer loans reached 4.66% at the end of January 2016.
HOW TO CREATE A CONSUMPTION CREDIT
There are different forms of consumer loans, the main ones being:
– The loan allocated to a given expense (purchase of a vehicle, student loan), or not
– Revolving credit formerly called revolving or permanent credit
– Personal loan
– Leasings or rental with option to buy
Specialized financing establishments and general banks are the main distributors of consumer credit, in addition to captives from car manufacturers and subsidiaries of distribution groups. But today, the Good Finance model of credit platform for individuals connecting a community of lenders and borrowers on a shared basis takes an important place in this market
Good Finance CREDIT, AN INNOVATIVE LOAN SOLUTION
As the only Internet credit platform for individuals in France with its own credit institution approval, Good Finance CREDIT pursues several objectives with its community of borrowers and investors:
At Good Finance CREDIT, borrowers benefit from:
– Loans at fair & competitive rates. We exclusively offer repayable loans (no revolving credit), at fixed rates and constant monthly payments, with no hidden costs. The proposed rates are fair because they only cover the costs of studying Good Finance CREDIT credits, and remunerate investors up to the risk taken.
– Exceptionally fast. Our loan request analysis technologies make it possible to finance a project in record time. The automation of certain processing of credit requests allows objective and instant decisions, avoiding biased judgments and intrusive questions.
– Unparalleled transparency. Good Finance CREDIT opens the black box for consumer credit. The borrower is informed in real time of each stage of the processing of his file, by SMS, email and in his customer area.
The explanations on his credit and the progress of the processing of his file are provided to him in simple and understandable terms by our advisers. The loaned funds come directly from the investments of our Investors: Good Finance CREDIT must rigorously study the creditworthiness of the borrowers, and in case of refusal informs them instantly.
At Good Finance CREDIT, investors benefit from:
– Exclusive access to a new asset class, directly and transparently funding households. We are opening up household financing, hitherto reserved only for credit institutions, to our Investors. The funds collected are instantly and fully directed to the borrowers. Comprehensive information on the profile of borrowers and the type of projects funded is continuously disseminated and in formats readable by all.
– High and regular yields. Historically, since December 2011, we have offered high returns, superior to traditional investment products. Our different funds allow progressive returns according to the risk profile chosen by the Investor.
Good Finance CREDIT transforms the banking system to make it fairer and more transparent. We are making consumer credit faster, simpler and cheaper, and savings more useful and more profitable.