Mazinia is a Belgian financial institution, active since 2015 in Belgium, which indirectly offers loans to individuals. Via its website, Mazinia allows an individual to lend money to another individual. Unlike a traditional bank, at Mazinia you can choose who you want to lend money to and what project you want to finance. In this way, Mazinia returns to a more traditional banking system where the savings of one are used to finance the projects of another.
Financial products and services offered by Mazinia
Mazinia offers various indirect personal loans to individuals: a used car loan (between 2 and 4 years), a renovation credit, a wedding loan, a credit studies, a loan decoration, a credit holiday, and a loan all purposes (allowing to finance all types of projects). With Mazinia indirect credit, you can borrow between € 1,250 and € 30,000 to repay over a period of 12 to 60 months.
Mazinia Personal Loans are privately funded through Mazinia’s online platform. The financing system is done by means of Notes. When a person applies for a Mazinia loan, and the loan is accepted, that credit is then divided into several parts, called Notes. A private investor can finance a portion of the loan by buying a Note, which is a portion of the loan. The different Notes include a different default risk. The investor can choose the level of risk they wish to take. The higher the risk, the more important is the return on investment. The poorer the credit profile of the borrower, the higher the interest rate. After receiving the credit amount, the borrower must repay the principal as well as the interest at fixed maturities. These payments are then paid to the individual investors. Unlike traditional banks, with Mazinia, it is therefore possible to choose the projects in which you want to invest.
Opt for Mazinia
Mazinia wants to return to the traditional banking system by indirectly giving the possibility to individuals to use their savings to finance the projects of others. With Mazinia, you have the opportunity to choose which project you support and to whom you lend money.
Mazinia also uses “positive money”. That is, the institution lends money exclusively to people who have a concrete project or wish to realize their dreams and who are also able to repay the credit. Used positively, this type of credit is a project accelerator. Mazinia is therefore very strict in the selection of borrowers, a positive point for investors who are therefore more certain to recover their money plus interest.
In addition, if you apply for an indirect loan at Mazinia and you repay your credit on time, you get a discount on the fees. Mazinia wishes, in this way, to reward those who respect their repayment plan.
You can also, as a borrower, take out insurance so that, in case of death or permanent disability, your loan is still repaid.