October Review: How to Invest in SMEs with October

October Review My SMEs Investing Returns with October
My October Review
  • Invested in October - €1 000
  • Self-reported returns - 6.46%
  • Passive earnings per month - € 5.36
  • Investing time on October - 10 months
4.9

My October Overview:

The overall interface of October is very simple and easy. It is one of the best-designed money lending platforms. You can start to make an investment of 20 euros. It is worth and valuable SME crowdfunding platform. I feel like I can trust them as October doesn’t seem to be misleading at all. Lots of information is there to guide you throughout the process of investments or funding.

In my opinion, October deserves the best place among all money lender companies. The leading team is looking very much strong. They can guide you properly.

October has a decent scoring model than some other crowdlending platforms. I believe that you can keep your money relatively safe and secure in October. This platform does not charge any extra fees for lenders. It is best for those who live in a smart and digital mobile age.

*in order to qualify for the bonus, you will have to invest a minimum of €500.

We Don’t Need Traditional Banking

Traditional banks are known for their time-consuming and rigid procedures. For their time-consuming matters, some other industries have emerged and reached the pick of success within a few decades. 

The Peer-to-Peer lending industries have become an important alternative to the mere and standard bank loans. So, these industries are emerging as the competitors of the traditional banking systems. There are many P2P lending companies.

October is one of them and very much popular as well. This platform has begun its life in France. This lending platform mainly operates in France, Italy, Spain, and the Netherlands. This lending platform is also registered with the French market authority.

The mission of October is to empower (SME) businesses in order to thrive by simplifying and democratizing their funding as well. This platform was born in the year 2014. At that time, the name was Lendix.

Nowadays, October operates as a money lending platform in Europe. From its beginning, it has loaned over $264 million and paid out over $15 million in interest payments to the investors. The investors are enjoying up to a 9.9% return rate.

Also, if you are looking for more platforms, where you can invest, read my reviews on OctoberRenditySeedrsCrowdestorFlenderReinvest24, Seedrs. I’ve selected October in my list for the best crowdfunding platforms to survive COVID-19.

How Does October Work?

October is a money lending platform. It has a working culture and procedure as well. It works by syndicating the business loans to the individual investors and institutions, companies or the business organizations as well.

October makes the money lending so simple and fast as well. It also works as an overseas investor. The whole procedure of signing up is very much easy and simple. You do not need to waste too much time in order to do this.

This platform is now working on different varieties of sectors. Most of the projects are generally offered in France. You should know that there are more than 15 projects that investors can get the chance to participate in.

October Review

Get €20 Sign-up Bonus

*in order to qualify for the bonus, you will have to invest a minimum of €500.

Apart from this, October offers several hundreds of thousands of euros in four places such as Spain, Netherlands, Italy, and France. In the upcoming future, the company is planning to open its sectors and expand its funding into Germany as well. In October, lenders can invest in new projects.

This is a great achievement and also a big idea as well. The borrowers get a chance to know about the available lender on a virtual platform. If both parties agree to the rate of interest, then they can enter into a new contract.

After signing the contract, the borrower needs to start refunding in the form of EMIs. On these platforms, the actual performance of a loan portfolio is determined some important factors such as project size, volume, default rate, reactivity rate, and all.

The duration of a loan in October is about 45 months. But in many cases, it can also vary from 6 to 60 months. You can also get an interest rate of 3.6% and 9.5%. This interest rate is very much lower than other types of lending platforms. But October has some tricky and strict application process for the borrowers.

As you can see, October has a strong selection process. It also has a low default rate. It has a clear process to manage recoveries.

How to Open an Account with October:

You can easily open your account in October. It is quite easy and simple. But you will have to live in EEA or Switzerland. In this case, you need to visit the website of companies and answer some questions in order to verify your identification.

This sign-up process will take just 15 minutes. If you choose some popular projects, then you need to spend less than 10 minutes.

After opening the account, you need to choose any one way from these two ways:

  • The 3D secure debit or credit card is faster, but your card limits will depend on the amount you can deposit.
  • The bank transfer is slower, not too fast, but you can access unlimitedly.

October Referral Code and Bonus

Get €20 Sign-up Bonus

*in order to qualify for the bonus, you will have to invest a minimum of €500. You need to enter the code before completing your registration, otherwise, you won’t be able to use it later.

After funding your account, you can lend on various projects. 20 is the lowest amount that you can invest in a project. On the other hand, 2000 is the highest amount that you can invest in a project. The amount is varied due to its varieties. Before going live, the loans are pre-checked for few days.

In the meantime, you can get enough time to re-check the details and profiles as well. After the project is live, you will get a notification or email through your October application. At this point of time, you need to make your move.

You can start your funding from this point. You can get new projects at a rate of 2-3 per week. The interest rates are varying in all cases. If you want a diversified portfolio, then you need to wait for the right and perfect projects. In this platform, you can transfer your money whenever you need it.

October’s Advantages:

Here are some advantages that you need to know about October. These are such as follows:

  • The site and the application of October both are looking very simple. These both can provide accurate information. These both are very simple and easy to operate and navigate as well. So, overall, October is a very popular and easy money lending platform.
  • The registration procedure is very much easy and seamless. You do not need to face so many difficulties in order to complete the registration process.
  • The credit card funding facility will also ensure the fast and speedy account funding.
  • You can keep the best track record of all funding.
  • The default rate is near about 2.34%. It clears that they have excellent and experienced borrowers and other selected teams.
  • You will get a useful and weekly email summary of every week. You can see the growths and research as well.
  • You can also get excellent customer service and you can also take this as a great benefit. You can share your problems via chat and this is very much helpful as well.

October’s Disadvantages:

  • If you compare it with other platforms, then you can see that the rates are lower.
  • The auto-invest feature is missing out. A manual investment procedure is needed for each loan.
  • You do not have any such protection irrespective of your funds.
  • There are no secondary markets.

Re-payment

October re-pays monthly principal and interest. There aren’t many platforms that repay the principal monthly. Most of the platforms repay the principal amount at the end of the loan term.

October Retern on Investment

Get €20 Sign-up Bonus

*in order to qualify for the bonus, you will have to invest a minimum of €500.

Taxation

October complies with any and all tax laws. You will have to supply any information that October needs for taxation purposes.

Safety

All your transactions are safe and secured. Lemon Way is a trustworthy payment method. It is a French payment platform.

So, it is fast and secure as well. You do not need to face any such difficulties. This payment platform is very much popular and expands up to 25 million people.

Return on Investment:

It is a growing money lending platform. It has already helped 524 projects and 14800 lenders. The investor received the 4.18% interest rate over the last five years.

October Review Final Thoughts

Through October, you can attack the international market. You can also develop your commercial operations abroad. You can launch a new production.

With this money lending platform, you can grow your business and team as well. Your business will get new clients, and you can grow your workforce as well. it is a reliable marketplace. You can borrow money from here. It is reputable and popular as well.

The overall interface of October is very simple and easy. It is the best-designed money lending platform. You will have to verify your identity. You can start to make an investment of 20 euros.

It is worth and valuable SME crowdfunding platform. You can trust them; they are not misleading as well. It is quite beneficial and you can get help from the outstanding and perfect application. Lots of information is there to guide you throughout the process of investments or funding.

So, you do not need to swim in the vast sea. You can follow these steps and acquire success. You can review your loan structure, portfolio, size, and all before going it live.

The quality of your portfolio will decide your loan structure and investment policies. There are so many customers who enjoy the benefits of October. October deserves the best place among all money lender companies. It is smart enough than the traditional banking system.

You do not need to stand in the long queue and complete the harassing long and complicated process. You can now enjoy the smart experience with October. It will give you the best experience and change your traditional experience as well.

The overall team is looking very much strong. They can guide you properly. You can track your record. October has a decent scoring model than other money lending platforms. You can keep your money safe and secure in October.

This platform does not charge any extra fees for lenders. It is best for those who live in a smart and digital mobile age.

Get €20 Sign-up Bonus

*in order to qualify for the bonus, you will have to invest a minimum of €500.


Some links on this page may contain affiliate links, which means that I may earn a commission if you register through them. None of the posts on this blog have been sponsored. Opinions are mine.

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