Your loan terms should focus on these aspects.
Collateral or insurance
We allow lenders to take collateral if they are lending to people in their area. Decide what forms of collateral are suitable for you. We also offer insurance on this platform. Decide what percentage of coverage will be sufficient. The cover can be greater or less than 100% but you will never be compensated more than 100%of the amount you lend. Remember, when you utilize Socin insurance, 50% of your loans must go to people with over 500 TCR.
Trust credits is a rating we use to tell you how much we trust each borrower. It goes from 0 to 1000+ and the higher a person progresses towards 1000 the more trust we have on him or her. We award TCR for actions the borrower takes on the platform. For instance the borrower gets 100 TCR for a first time deposit of any amount insurance. If the borrower deposits the amount within 72hours of registering, there is a bonus of 50 extra TCR.
Visit the TCR page to determine how much credits borrowers must have before you lend them money
All sorts of projects are posted on this platform. You should have some rough idea which kinds of projects you want to invest your money in. For example , would you want to fund someone doing Forex trading? Or farming? etc
It is not a good idea to commit all your money on one loan. So you should have a budget of the maximum and minimum you can commit to one loan. It could be 5%, 10% or any other percentage less than 25% of your total capital.
A summary of all the different sets of information should be in your profile description so that any interested borrowers can take a quick glance before they contact you with requests to check their projects.