How this works

Search for an offer

First, you need to find a suitable loan take-out/issue offer. «recMONEY» database is constantly updated and supplemented. In the search form, you can select the required region, loan maturity, interest rate, and collateral (vehicle, business, real estate, jewelry, etc.). You can also enter keywords into the search box on our website.

If you cannot find a suitable offer in the «recMONEY» offers database (e.g., you are not satisfied with the loan maturity, amount, or interest rate), you can create your own offer with the terms and conditions that are most favorable for you. To do this, just click on the appropriate button and follow the instructions.

Creating an ad:

Next, you need to go through a simple and quick registration procedure to create a personal account. To do this, just enter the information in the appropriate fields (name, e-mail, password). In addition, registration through the most popular social networks (Google, VKontakte, Yandex, Mail.ru, and Facebook) is available on our platform.

After pressing the “REGISTER” button, you need to confirm the completion of the procedure by clicking on the link in the e-mail sent to you. The data you specified in the registration form will be used to log in to your personal account with the «recMONEY» service. After that, you will need to fill out a small questionnaire and, after verification, create requests for funds.

Main Requirements:

any individuals and legal entities can participate in transactions;
the borrowing individual must be legally capable and of age;
the prospecting recipient of the loan must first register with our service and undergo an internal check of the completed form;
a person intending to take a loan must prepare scanned copies of documents, as most borrowers require them to protect themselves;
the parties must independently choose and agree with each other the method of monetary settlements which is most preferable for them;
the person who took out a loan must fulfill their contractual obligations in a timely manner;
as a rule, lenders will do a thorough screening of potential borrowers;
the loan agreement is a binding document

Contract with a borrower / lender

The «recMONEY» platform gives its users the ability to enter into credit agreements with each other — directly. Our users independently negotiate contractual terms with each other and choose the most preferable method of settlement.

Important recommendations for concluding contracts:

first, you should consider that the loan agreement will not be considered formal if its essential terms and conditions (the procedure and amount of interest payment; the order and timing of return of borrowed credit funds; the procedure and timing of disbursement of funds to the borrower; the amount of credit funds; liability for late payment; penalties for late payment, the possibility, procedure, and conditions of early repayment, etc.) were not agreed upon;
secondly, you should carefully check the details (e.g., passport data);
third, you need to pay special attention to the repayment schedule, critically assessing your financial capabilities at this point in time.

Thus, the conclusion of a loan agreement is a responsible process that should not be rushed!

Receiving money:

The “recMONEY” service brings together the users who interact with each other independently. The terms of transferring/providing funds are agreed upon by the borrower and the investor individually and are necessarily stipulated in the content of the agreement.

For transfers to be as safe as possible, it is recommended that secure methods are given preference.

As for payments on loans taken, they can be made in the following ways:

by money transfers from one bank card to another;
by money transfer via Contact system;
by electronic money transfers in any payment system;
early repayment of the loan and interest on it.

Possible risks and additional recommendations:

P2P lending gives individuals an opportunity to improve their financial situation through their own savings, while organizations can increase their working capital and, as a result, their profits. At the same time, the high profitability of such transactions is caused by high risks, the main of which are the following:

fraudsters. Practice shows the increasing incidence of Internet fraud. To minimize risks, lenders need to carefully screen borrowers (there are publicly available tools for this), and borrowers need to carefully review the terms of the agreement they are entering into. This is the most reliable approach at the moment;
difficulties in checking clients. The burden of verifying the borrower is borne entirely by the lender. However, today there is a whole host of resources in the free access that simplify this task;
difficulties in finding lenders/borrowers. The «recMONEY» service is here to completely fix this. Our user base is constantly expanding, so everyone can find the most suitable offer for themselves, or create their own.

Thus, the «recMONEY» service has succeeded in creating a virtually ideal environment for investing and borrowing, ensuring a quick and clear interaction between borrowers and lenders.

That said, participants in P2P-transactions are encouraged:

to conduct a thorough background check on counterparties;
to work with reliable services such as «recMONEY»;
to assess objectively the probability that the borrower will make loan payments on time;
to elaborate and agree on contractual terms as well as perform checks using publicly available tools. Bring in lawyers, notaries, and attorneys, if necessary;
to take into account that fees are charged for transactions with funds.

Being aware of the above nuances, you will be able to avoid a lot of problems when lending or receiving loans.

The «recMONEY» platform provides organization combined with beneficial and reliable interaction within the “investor + borrower” system