Loan Information
Registering process is for free
The commissions are charged once the loan is accepted and granted, and are discounted from the cost of such loan.
The only one commission existing is the Intermediation commission.
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Opening an user account: FREE
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Loan application: FREE
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Income of the loan cost: FREE
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Total or partial amortization: FREE
Intermediation commission
The sum of the comissions depends on the term of the loan according to the next square:
| RATING | COMISIÓN DE INTERMEDIACIÓN* |
| A | 2% |
| B | 3% |
| C | 4% |
| D | 5% |
* Commission of financing intermediation charged by Socilen. The minimum commission will be 90 €
The next comissions will be charged in case of nonpayment
- Reclamation commission: 35,00 € (1)
- Assignment of collection to collection companies: 50,00 € (2)
- Payment notifications: 20,00 € por notificación
- Judicial claim: 150,00 € + rates and cost (3)
(1) That quantity is charged to cover the reclamation costs
(2) Our policy is always trying to come into an agreement. When this is not possible, an important recovery company comes into play, with the corresponding cost
(3) The judicial claims entail some fees and costs ( lawyer, attorneys, …) which will be reclaimed along with the suitable value and the corresponding interests
Interest rates
Interests go directly to the investors who have shared the money. Take into account that they are people like you, who have provided you with their savings to help you to fulfill your goals. They receive in exchange a profitability which are the interests you´re paying.
The interest rate depends on two factors:
- Basis rate: it´s the same for all the loans and depends on the average interest rates of the market
- Risk factor and volatility: it depends on the solvency grade of the loan. Transparency commitment Socilen: we want you to have all the information so you can compare and make the best choice. The TAE is a good indicator of the real cost of the loan. In the calculation of the TAE, apart from the interest rate, the other costs that are associated are also included within the loan, such as the commissions. The TAE is particular in each case in concrete, since it depends on the cost and deadline chosen. But don´t worry, before confirming your loan we will tell you exactly both your costs and your TAE. Check and compare. It´s your choice!
*The TAE we are showing you in the following table corresponds to a loan with a quantity of 20.000 Euros, and 36 months.
| GRADO DE SOLVENCIA | SUBGRADO | TIPO DE INTERÉS ANUAL | TAE* |
| SOLVENCIA MUY ALTA | A1 | 4,00% | 4,94% |
| A2 | 4,50% | 5,46% |
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| A3 | 5,00% | 5,99% |
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| SOLVENCIA ALTA | B1 | 7,00% | 8,14% |
| B2 | 7,50% | 8,68% |
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| B3 | 8,00% | 9,23% |
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| SOLVENCIA MEDIA-ALTA | C1 | 10,00% | 11,43% |
| C2 | 10,50% | 11,99% |
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| C3 | 11,00% | 12,55% | |
| SOLVENCIA MEDIA | D1 | 14,00% | 15,97% |
| D2 | 14,50% | 16,55% | |
| D3 | 15,00% | 17,13% |
Minimum and maximum cost
The minimum and maximum cost you can borrow depends on your solvency level according to the next classification.
| GRADO DE SOLVENCIA | SUBGRADO | IMPORTE MÍNIMO | IMPORTE MÁXIMO |
| SOLVENCIA MUY ALTA | A1 | 1.000 € | 900.000 € |
| A2 | 1.000 € | 840.000 € | |
| A3 | 1.000 € | 780.000 € | |
| SOLVENCIA ALTA | B1 | 1.000 € | 720.000 € |
| B2 | 1.000 € | 660.000 € | |
| B3 | 1.000 € | 600.000 € | |
| SOLVENCIA MEDIA-ALTA | C1 | 1.000 € | 540.000 € |
| C2 | 1.000 € | 480.000 € | |
| C3 | 1.000 € | 420.000 € | |
| SOLVENCIA MEDIA | D1 | 1.000 € | 360.000 € |
| D2 | 1.000 € | 300.000 € | |
| D3 | 1.000 € | 240.000 € |
Minimum and maximum installments of a loan
The installments are established in monthly fees, from 1 to 60 months.
FAQ
General information
How can i apply for a loan?
Which is the cost of the registration process?
Registering is completely for free, and will only take you some minutes.
Can I know the conditions of the loan before registering?
You can use our loan simulator to obtain an approximate conditions. The final conditions will depend on your solvency level, and you have to introduce your personal information so the software calculates it. Once you know your solvency and your interest rate, then you´ll decide whether to go on with the application or not.
Is it necessary having a guarantor?
Yes. At least one of the associate or administrators must guarantor the loan.
Which is the minimum and the maximum quantity that I can borrow?
If you´re a company, the minimum loan you can apply for is 1.000€ while the maximum one will depend on your level of solvency, up to 90.000€.
How much time do i have to pay it out?
You can choose the terms for your loan. The minimum period of time is 6 months while the maximum one is 60. You can see it in the section terms.
What are the commissions socilen charges me?
The commission we charge will depend on your solvency level. You can see the commissions in fees and commissions.
Once you have filled up the application form, you´ll be able to know exactly your solvency level and, therefore, the exact conditions of your loan before taking any choice.
Acceptance of the loan
How much will i be waiting until to know if my loan has been accepted?
In the case of companies, we request the risk classification to an external company, which is INFORMA, a leader company in Spain in terms of business information. We´ll have a response in less than 48 hours!
What does it mean that the loan has been pre-accepted?
It means that it´s a temporary acceptance provided by the system. You only have to upload the information we´ll be requesting you so our risk department accepts it definitively.
How a pre-accepted form can turn into a final one?
Our risk department will send you an e-mail applying for the necessary documentation to check if the information introduced is correct or not. It will also check your veracity in public databases, as well as your presence or not in database of defaulters. If the data are correct and your payment file is clean, our risk department will send you an e-mail explaining that your application has been successfully accepted.
Can i cancel the conditions of the pre-aceepted loan if they don´t interest me?
Yes, at any time prior to the publication of the loan, it´s possible cancelling the application from your user board. Once it´s published, you will have to get in contact with us to cancel it via email.
¿Hasta cuándo puedo cancelar mi préstamo aprobado definitivamente?
Puedes cancelar tu solicitud en cualquier momento hasta la aceptación del contrato de préstamo. Hasta ese momento simplemente era una solicitud en diferentes fases, pero no se convierte en un préstamo definitivo hasta que firmes el contrato.
How much time do I have to make a choice?
You have 15 days to decide whether to accept the conditions of the loan that has been pre-accepted or not. Once that period has time has passed, if you haven´t sent the necessary documentation, we´ll proceed to cancel the application. If you want the loan after the period of time has passed, there´s no problem, you only need to start a new application from the beginning.
How much time do I have to cancell my accepted loan definitively?
You can cancel your application at any time until the moment in which you accept your loan contract. Until that moment, it was simply an application at different stages, but it doesn´t turn into a definitive loan until the contract has been signed. From that moment and on, there´s a contractual relation, the application is signed in the website and the financing process carried out by investors begins.
What happens in the documentation provided doesn´t coincide with the information of the application?
If the information provided doesn´t coincide with the application, the loan is rejected by our risk department. You´ll have to start a new application with the correct information so the system can calculate again your solvency level.
Reception of money and payment
Who loans me the money?
The money is loaned by the users registered in Socilen. The platform publishes the accepted loans, and the users can invest a small quantity until to complete the loan that has been applied.
What happens in the investors don´t cover the quantity that I have applied in its totality?
If once the financing period of time has come to an end and the quantity of money applied hasn´t been totally covered, the loan is declared as cancelled. You can apply for a new loan but changing the conditions.
When will I receive the money?
As soon as the loan is completely financed, the loan contract and the SEPA signed, we will send the money in your account.
How do I return the loan?
In the beginnings of each month we´ll charge you, in the current account provided by you in the application, the corresponding monthly fee.
How can I change the current account that you´re using to charge me the fees?
To change the account, you have to send an e-mail to info@socilen.com
Rempayments
Can I repay partially my loan?
You can repay your loan partially as many times as you want with a minimum quantity of 1000 € in each repayment. In case there are less than 1000 €, you´ll have to proceed with a total repayment.
How can I do a partial repayment?
To proceed with a partial repayment, you´ll have to send us an email to info@socilen.com
Which is the cost of a partial repayment?
It will have no cost for you, they´re totally for free. For further information, please check the fees and commissions.
How can I do a total repayment?
To proceed with a total repayment, you´ll have to send us an email to info@socilen.com
Which is the cost of a total repayment?
It won´t cost you anything, they´re totally for free. For further information please check the fees and commissions.
Nonpayments
Which are the consequences of returning a bill?
The Socilen work team will get in touch with you in order to find out the reasons of the devolution as well as for coming into an agreement for a new payment. Those days of delay generate a delay interest which will be: the interest rate of your loan, with an added 2% which goes integrally to the people who have loaned the money to compensate the delay
We will also charge you 35 € due to the costs caused by the return of the bill, and 20 € in terms of notification expenses. See fees and commissions.
How do I pay a returned bill?
To proceed with the payment of the bills that have been returned, please get in touch with us info@socilen.com
Remember that the bills returned generate interests on the side of the investors. Don´t delay.
What happens in case my personal circunstances are different and I have problems to pay the montly fee?
Get in touch with us in info@socilen.com and we´ll find a solution so you can face the payments. Our first option is always coming into agreement to help you go through the situation.
However, take into account that the people who have loaned you their money have put their savings into risk to help you, they have trusted you. They have the right to retrieve their money and our work is to help them too to get it too so more and more investors trust this system.
What happens if I return more than one bill?
From the first non-payment, the Socilen work team will get in contact with you to come into an agreement and solve the problem. This is always our priority: helping you to pay for the loan. We´ll look together for a solution so you can pay the fees according to your economical situation of that moment. Only in case we don´t succeed in finding a solution, and there are several non-payments, we´ll cede the collection management to a specialized company which will proceed extra-judicially with the collection if necessary. Remember that investors are people just like you and that they have risked their savings to help you!