Yes, the whole model revolves around returning the support on installments (from the transfer date to the borrower). Admin fees are subtracted from the returned installments. The returned support is reduced by the amount which is around 4.5%. return might be reduced by 8.5% if the supporter chooses to give a 5% incentive to the borrower after the return of the full support. The incentive is given with the last installment.
Yes, Naslink is legally registered with the Egyptian investment authorities with a commercial registration and tax card. All our transactions are electronic and monitored by our Banks and Auditors. We pay our taxes and dues as required by the law. We are a startup working within the Fintech ecosystem that is supported by the Central Bank of Egypt.
Admin fees are subtracted from each installment paid by the borrower. Admin fees are 4.5%. We are trying to be very efficient with our expenses to enable maximized benefit for the support funds. A similar percentage is subtracted from the borrower.
All money is electronically exchanged between all parties. No CASH is being exchanged. We believe in transparency and accountability. NasLink has made agreements with e-payment facilitators (like Opay, Fawry, Miza and others) for all money exchanges. All transactions are recorded and pass through our banks.
Borrowers sign legal obligation documents in return for the support. If there is an operational issue with the borrower, NasLink reschedules the repayment schedule and informs the supporter. If the borrower is not paying for unjustifiable reasons, then legal action is taken.
Yes there is a risk that the borrower does not pay. Naslink has a sum to repay the supporter until legal action is taken against the borrower for repayment. We are trying to minimize the risk on the supporter.
No, there is no interest charge. There is an admin fee that they pay on installments amounting to 4.5%, these are very reasonable expenses which are not existing in the market. Other alternatives can reach 5 times this number.
We will aim to wait for 75% collection of the request and contact the borrower to see if that amount is acceptable. We will then proceed with contractual signatures and transfer, to make the loan active. If the borrower refuses the amount, money will be returned to your website account for re-lending or withdrawal.
Other alternatives exist but much more expensive; Banks (the business needs to be registered and credit worthy), Microfinance companies (very expensive with a lot of additional expenses), Individuals (unclear on the extent of pricing, and control).
No, this is not possible for security and money laundry avoidance purposes. You can distribute any amount on multiple borrowers as long as the amount does not exceed 50% of the full needed support.