Our system has an inbuilt safety net for investors, which protects them from losing money in case a borrower does not make full repayments as agreed after receiving funding. The safety net is like virtual insurance, which is created by setting aside 50% of all the cash we collect as fees from members – registration fees and fees charged when projects are funded.
Whenever a new member joins this platform, we add them to our affiliate program. This means having a special tracking code that can track and award commission when a new member joins from a link they have posted online. Each registration earns the member a one-time commission of $5. When these new members join, they are assigned to the member whose tracking code led them to this website. Whenever these new members have projects funded, the member who invited them is paid commission worth 50% of the fee charged.
These commissions create a tangible source of income that the investor can rely on in case there is a problem and the borrower is unable to make repayments or honor any other agreements he/she had with the investor – a safety net.
How to Build the Safety Net
Every borrower is advised to start working on a safety net from the day he/she joins our platform. To build one you have to post links with your tracking code online. Your social networking accounts can be a good start, but you can go further than that. You can write articles about this service and post them in article directories such as EzineArticles, or even answer questions on Quora, which are related to this service and post your links there.
Example of a link with tracking code
Remember, you can add your tracking code to any URL on our website so you have a lot to share on social media.
How to Use Your Safety Net
Should investors and borrowers decide to utilize the safety net, they should have an agreement to retain the borrower’s commission in the system until the funds provided to the borrower are repaid (or any other agreement the two parties have is fulfilled). This agreement should be deposited with us before a project is funded – submit a ticket for guidance.
The affiliate system provides statistics on how many people have clicked the links you shared, how many people have registered and how many of the people you have referred have been funded (recorded as sales). It also shows how much commission you have earned. Borrowers should provide these statistics in their projects. This will spark more interest from investors who might be interested in funding their projects.
Investors on the other hand should check for such details in any project they intend to finance. This is important because it is the only form of tangible security for the funds provided to borrowers available globally.
What Happens in The End
If a borrower’s commission has been retained in the system, but he/she repays the full amount, all the commission retained will be released to the borrower once the two parties confirm that the funds have been repaid in full.
If the borrower fails to repay, the commission retained will be released to the investor at the time specified in the agreement the two parties craft. Any future commission will be released to the investor until the entire amount provided to the borrower is repaid.
Failure to repay funds provided will lead to suspension of a borrower’s account even