Finloop

Finloop

About this app

"At Finloop, we specialize in the administration and comprehensive management of CREDITS AND FINANCIAL GUARANTEES. Our platform has been designed to offer financial institutions a complete solution that ranges from the origination and monitoring of loans to the management of guarantees and credit portfolios .

How does it work?
The process begins when the Lender and the Applicant agree on the terms and conditions of the loan. If the Applicant agrees to the agreed conditions, they will be asked to create an account on Finloop through the application. Once the Lender funds the credit through Finloop, the platform is responsible for formalizing and legalizing the credit. Finloop facilitates the loan application process, ensuring that all previously agreed conditions are met. Subsequently, the process continues with the explanation of how Finloop collects and delivers the payment as agreed, maintaining the formality and legality of the process.

Ready! enjoy the benefits

Type of credits:
• Loan fixed payments: periodically the applicant will pay the same amount that includes capital, interest, VAT interest and commission.

• Current account loan: periodically the applicant will pay only interest. You must pay the capital at the end of the term or request a renewal from the lender.

• Recognition of debt fixed payments: if there is a previous debt, the applicant may formalize the loan. The applicant will periodically pay the same amount that includes principal and interest.

• Recognition of debit in current account: if there is a previous debt, the applicant may formalize the loan. Periodically the applicant will pay only interest. You must pay the capital at the end of the term or request a renewal from your lender.

Term:
• From 2 months to 12 months in loan and debit recognition in current account.
• From 2 months to 120 months in loans and recognition of fixed payments.

Payment frequency:
• Weekly
• Biweekly
• Monthly

Finloop Commissions:
• Opening commission for the applicant only in fixed payment loan products and current account loans: from 1.25% to 4.85% without VAT

Administration fee for the applicant in the debt recognition products for fixed payments and current account recognition and for the provider in all types of credit: 1% without VAT on the periodic payment. Periodic payment is the amount of principal, interest and VAT interest generated from the loan.

Collection fee for the applicant for all types of credit: $10 plus VAT per period.
Total Annual Cost (CAT): from 1.54% to 223.06% without VAT

Loan conditions:
• From $1,000.00 to $10,000,000.00 pesos MXN
• Minimum and maximum repayment period: from 61 days to 120 months, according to the request and the type of credit selected.
• Maximum APR (Annual Interest Rate), which includes the interest rate and all annual costs that can range from 5% to 100% depending on the type of credit selected; Informative CAT: 223.06% without VAT.
• A representative example of the total cost of credit including capital and all applicable commissions (e.g. interest) is the following:
For a loan fixed payments. Amount: $10,000.00. Annual interest rate: 16%. Term: 12 months the total to pay is: $11,665.80

Contact us
For any questions you can consult our terms and conditions at the following address https://finloop.com.mx/terminos-y-condiciones.html

Or contact us at the following email [e-mail]