FAQ

GENERAL QUESTIONS
CREDON is a peer-to-peer market for private lenders who invest in loans received from non-banking loan originators. non-banking borrowers ' request portfolios mainly consist of requests for consumer loans across Europe. Unlike traditional banking services, CREDON offers private investors access to the non-Bank credit sector.
The CREDON platform operates within the framework of a financial holding company, whose shareholders with an authorized capital of more than 1,000,000 pounds, implement and support the CREDITONLINE credit business management system in more than 15 countries, including the United Kingdom, Denmark, Spain, Switzerland, Poland and the Baltic States, and have been engaged in lending since 2007.
ORIGINATORS list the loans they have issued to borrowers in the primary market. Investors can then choose which loans they want to Finance and to what extent. Different types of loans with different maturities and yields allow investors to build their investment portfolio in accordance with their strategy. Payments are planned according to the payment Schedule available in the details of each loan. You can invest manually or create an Autoinvest portfolio that will invest according to your chosen criteria. Each investor has full control on the level of investment into a single loan or specific loan originator.
GETTING STARTED
Fill in the investor's registration form and become a CREDON investor.
You can deposit money by transferring funds to credon from your bank account through your online banking, at bank branches or through terminals that support the function of sending cash to the account. Transfer the amount of money that you have decided to invest according to the instructions that you will receive after successfully completing the registration form.
After transferring money to your investor account, you can start investing.
CREDON recommends that you split your investment into loans from multiple originators or enable auto-investment, thereby reducing risk and earning more.
After investing, you will automatically receive monthly interest and as soon as the borrower in whose loan you have invested, pay the loan, you will receive the principal amount. You will see this money in your investor's profile.
You are welcome to contact CREDON support team on weekdays from 9 AM to 6 PM EET.
INVESTING
An individual investor in a European economic area country over the age of 18, as well as legal entities, can invest in the Credon.
CREDON does not charge investors any fees. CREDON makes a profit only from loan originators.
A professional audit company analyzes the loans granted and sets an initial risk assessment, which is constantly updated. The due diligence process takes from two to three months and is another indicator of the rigor of risk assessment in Credon. This provides investors with up-to-date and independent information about the originator of the loan Also, most of the organizers on the Credon platform use the Credit Online system for giving loans in their work, which allows us to evaluate the activities of these companies in real time.
CREDON's priority is to ensure reliable investment. Remember that any investment is a risk, so when investing, make an informed and balanced decision. However, CREDON has taken the following measures to reduce investors ' exposure to risk. All loans come with buyback guarantee, so the Loan originator will buy back loans in full with accrued interest, if a borrower is over 60 or 90 days late.
AUTO INVEST PORTFOLIO
Auto Invest is an advanced feature that allows investors to create an investment portfolio based on custom sets of criteria (loan term, type, percentage, investment amount, loan initiator, and country
The most important part of setting up an automatic investment portfolio is to think about your investment goals, restrictions, and criteria.
CREDON allows you to choose between different settings that will help you develop an individual approach to automatic investment.
Once you have added funds to your investment account, you can create your first portfolio. The Auto Invest portfolio is the recommended form of investment with CREDON, since investments are made according to automatically set parameters. On the dashboard screen, select the amount and term of your auto-investment portfolio and you will see the expected return on your planned investment. Then click the "start investing" button. After you agree to the terms, you can finish creating your auto-investment portfolio. If you don't make any adjustments, your portfolio will be created with default criteria configured to increase the number of loans you can invest in. When you set up your criteria manually, please note that this may limit the number of loans that meet your criteria, and thus limit your investment opportunities.
You can edit, deactivate, and delete portfolios at any time by clicking the corresponding buttons in the Auto Invest settings. The action will have an immediate result.
Deactivated portfolios can be reactivated at any time.
Deleted portfolios cannot be restored. However, all investments made using the automated portfolio will remain within your investment limits.
WITHDRAWAL
The withdrawal period depends on the Bank transfer and usually takes no more than 3 business days.
No, once the investment is confirmed, you can't cancel it, but if your plans have changed and you want to withdraw your funds before they reach maturity, you have the option to sell the assigned loans on the Secondary market.
The profit received in CREEDON is subject to taxation, taking into account the legislation of the country where the investor is a resident. CREEDON does not tax accrued interest, so the investor receives the full amount and an account statement indicating the interest received for a certain period of time. The investor is responsible for actions related to the payment of taxes.
SECURITY
One of our top priorities is the security of your personal data and information. CREDON uses an organized data warehouse with the highest security standards and complies with Latvian legislation. The personal data of each investor is requested in order to complete the KYC questionnaire in order to comply with the legal requirements and the terms of use and AML policy in order to prevent money laundering and terrorist financing, as well as to prevent any fraudulent activities that ensure the security of both parties. In accordance with the Law on the Processing of Personal Data and Regulation of the European Union No. 2016/679 of 27.04.2016, all personal information of investors is confidential and will not be transferred to third parties without a legal basis.
CREDON requires all its investors to submit documents and identification information in accordance with the terms of use and AML policy. These requirements are based on the legal regulation of AML in order to prevent money laundering and terrorist financing.
A list of all mandatory documents to be submitted, and a detailed procedure for identifying and drawing up the KYC questionnaire, posted on our website and mandatory for all our clients.
The security of your account is very important to us! Two-factor authentication (2FA) is a method of identifying a user on the CREDON platform by requesting two different types of authentication data, which provides two-layer, and therefore more effective protection of the account from unauthorized intrusion. With two-factor authentication (2FA), only you can access your account from a trusted device or website.