Posts

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Fathers Day praise for the bank of Dad’s in Perth – Credi in The Sunday Times

The Sunday Times celebrated Perth Fathers on Sunday by chatting with Tim Dean and writing about the generosity and love for our dad’s in regards to the bank of Mum and Dad.

Tim Dean went on to share in with journalist Jenne Brammer that the idea behind Credi.com and how he was the head of his own branch of the bank of Mum and Dad. As a father himself he always gave to his kids when he could. However, when he lent money to his children issues occasionally arose, such as chasing up the repayments and the ‘moneychat’ (where he’d be asked for more money).

Then the innovative fintech platform was created. Credi.com helps family and friends alike make loans between one another, helping avoid the stress and strain on a relationship. The platform provides users with a toolkit to formalise (with a legal loan document) and manage the process from start to finish, all within one place.

If you missed the chance to read Tim’s feature in The Sunday Times, don’t you worry!

Read it in full below!

 

Credi - The Sunday Times Perth

Credit: Jenne Brammer

Source: The Sunday Times

 

Is it really a bad idea lending to family and friends?

lending to family and friends

We’ve always been told never to lend money unless you’re willing to lose it, however, WeFinance’s Willy Chu writes of the positive aspects of lending to family and friends.

Within his article, Chu mentions the shift in attitudes in the US in regards to attitudes about transparency in regards to personal information such as finances and debt.

A recent study by Nielsen highlighted the increasing number of younger generations being more willing to lend to family and friends.

Read the article in full by clicking here!

Credit: Willy Chu

Source: www.quora.com

 

 

Seeking financial help for your business with bad credit

LeaseFunders infographic shows a great way to seek financial help for your business even when you have bad credit.

Poor credit can often hold you back and make it hard to get a loan. Getting help from family and friends isn’t always a bad idea. These kind of investments in a business and loans are becoming more frequent.

Family and friends are always there for you when it comes to a loan. If you show your willingness to do the right thing and repay the money you’re more likely to get the amount you need and receive further help in the future.

Check out the LeaseFunders infographic below

Credit: Lease Funders

Source: visual.ly

LeaseFunders infographic shows a great way to seek financial help for your business even when you have bad credit

 

 

Study finds more young adults are relying on the bank of Mum and Dad

relying on the bank of mum and dad

Global News Canada’s journalist, Jon Azpiri, writes of a new study highlighting that more young adults rely on the bank of mum and dad.

Many successful Canadian adults are feeling the financial strain in renting and buying a property. Sandro Sgaetti, a 29-year-old working full time as a construction worker and camera man lives at home with his my mom and dad. “It’s too much money paying rent and trying to find a house in this town is pretty much impossible,” he shares.

CIBC’s surprising statistics also show that many parents are rearranging their finances to help their adult children. With one in four Canadian parents saying they spend more than $500 a month to support their adult children.

Watch the video to find out more about the impact of the Bank of Mum and Dad.

Credit: Jon Azpiri

Source: globalnews.ca

 

 

 

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Credi’s new records in August 2017

credi new records in august 2017

Credi.com, the platform that powers “the Bank of Mum and Dad” – has set new records in August 2017. Overall the platform has exponentially increased the number of users and overall loans on the platform.

This August 2017 saw $29 million worth of loans set up to be managed and formalised on the platform. With $9.5 million of this being active/live on our platform – seeing a 12% increase from last month.

The platform has also reached 1238 users on the platform. This has overall seen a 28% increase from last months user statistics.

Keep an eye out for more to come and next months statistics.

 

 

Credi’s #WhatTheLoan – To Pay for my Holiday

#WhatTheLoan is back! What have you lent or borrowed money for? Well, this week we had someone borrow money to “pay for my holiday.”

pay for my holiday

 

 

 

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RFi Group: The Australian Fintech targeting informal lending – Credi

Australian fintech targeting informal lending

RFi Group writes of the new Australian fintech company targeting informal lending. Have you heard of them? It’s Credi!

RFi Group goes onto further highlight how Credi’s platform and how we help Australians who end and borrow from family and friends formalise their agreement and help facilitate the process all in one place.

Credi now has $28 million dollars of loans on the platform, double the number released in July. Credi hopes to “save relationships from the ‘strain of financial dealings’ by turning these informal loan agreements into ones that are credible and manageable”, as said by CEO, Tim Dean.

RFi Group further sums up their article by highlighting some very interesting lending data gathered in March 2017, informing readers of the potential for Credi.

Credit: RFi Group

Source: www.rfigroup.com

 

 

 

Get through university: BOMAD gives students £2,285 each year

get through university

Research from the site, NotGoingToUni, has revealed that many UK students have turned to the Bank of Mum and Dad for on average £2,285 each year to help them get through university. With a large number of these undergraduate students (87%) confessing to going to their parents at least 5 times per year, for an estimated £457 each time, to pay for their expenses during university such as rent, food and going out.

Credit: Aftab Ali

Source: www.independent.co.uk

 

 

The Future, Life With Student Debt Cartoon

Seems about right! Does anyone else feel the same? This cartoon is a great depiction of life with student debt. Can we look to the future or is that debt going to be constantly in mind?

Student debt