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As you all know, all investments are risky. At eLoan.vn we rely on the experience of our team of banking experts and on-hands operational practices to build credit scorecard of the borrowers. Our principle is to measure comprehensively from the assessment of the partner who originate loans (such as banks, financial companies ...) if they are able to return the money received from the borrowers to investors or to the measurement of borrowers´ solvency
The credit rating scale of the borrwers will be fluctuated as follows with the corresponding returns. Please note that the credit points and interest rates will be subject to change according to our market and operational conditions.
For the borrowers, we set up similar risk assessments as banks. The eLoan team will directly assess the potential risks from the borrowers. The scorecard of the borrowers will be determined by the following factors: non-financial such as the reputation of the borrowers, the education level of the management team, business lines, business products, risk tolerance of eLoan, the honesty of the borrowers ... and financial factors including business results, business documents, ... Proportion of non-financial factors and the financial factors will be allocated with appropriate weights to create a credit score.
All borrower’s applications will be reviewed before presenting to investors. The eLoan team will reject invalid and potentially high risk applications.
We collect raw data from the borrowers and updated data during the loan performance. These data include interviews with business management, direct visits to the business, financial statements, and other internal documents of the business. In addition, we also check other relevant information about the borrowers via the Internet, industry reports, and information on trade partners (if any).
For origination partners (such as banks, financial companies, etc.) we check their market reputation and financial status to minimize the risk of disbursement by the party or not paying to investors.
We understand that it is important to minimize the possibility of defaults from the borrowers, so in addition to the Credit Rating, we’ve created strong binding contracts with the borrowers to be able to handle the payback for investors legally.
The eLoan team continually monitors the status of the borrowers and originators to evaluate the performance of pertinent parties. In addition, we also update information from news, meetings with customers, research to obtain the necessary data to reevaluate borrowers and partners. Any serious problems affecting the repayment can lead to a decrease in the ratings and vice versa if eLoan notice improvements.
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