Bitbond is a global peer-to-peer bitcoin lending platform for small businesses. Most borrowers are eBay sellers and other online small businesses. Bitbond is run by Bitbond GmbH, a German company that facilitates loans throughout the world. As of March 2016, Bitbond had 23,000 users and had funded over 1,100 loans. The marketplace connects investors and borrowers and facilitates loans of up to $10,000. Borrowers can qualify for interest rates as low as 7.7% and origination fees range from 1% to 3%. 

How Does Bitbond Work?

Bitbond makes investors diversify their portfolio by investing in bitcoin loans throughout the world. Borrowers receive low interest loans with favorable terms and get the satisfaction of obtaining a loan without the need of a bank.

The first step in Bitbond’s lending process is to perform a credit rating of all borrowers. Bitbond’s rating goes from A (the highest) to F. Once rated, borrowers list a project on the marketplace. Investors then choose which listings they are interested in and lend as little as BTC 0.01 ($4 as of March 2016) per loan. A listing has a maximum of 14 days to receive funding, but the auction will end as soon as the amount requested is reached. Loans are funded as long as investors fund 60% or more of the required amount.

Borrowers can have a maximum of one loan at a time.

What Are Bitbond’s Interest Rates?

Interest rates vary depending on the creditworthiness of each borrower. Bitbond does not publish a range of APR rates, but interest rates can be as low as 7.7% (as of March 2016) and as high as 25%.

Bitbond charges borrowers a 1% to 3% origination fee. The cost varies depending on the length of the term.  A six weeks loan has a 1% origination fee, but a 60-month loan has a 3% origination fee. There are no other lender fees or prepayment fees.

How Much Money Can I Borrow From Bitbond?

Borrowers can apply for loan amounts of up to $10,000.

What Is Bitbond’s Application Process Like?

Borrowers must first open an account with Bitbond. Just provide your full name and email address. Bitbond will send you an email with a link. Complete the short application form. The platform will check your credit profile and give you a rating of A to F, depending on your credit history, type of business, revenue, customer rating, and so on.

How Is Bitbond Better Than Other Lenders?

  • Bitbond allows investors to diversify their portfolio globally
  • It has competitive rates and low origination fees
  • The marketplace will process loan listings where investors have funded 60% of the loan amount
  • Investors can automatically invest their funds with no fees
  • Application process is fast and easy to complete
  • Loan Amount
    $30 - $10000
  • APR
    7.7% - 25%
  • Max Loan Term (Months)
  • Credit Score Range
    560 - 850
  • Origination Fee
    Starting at 0.5%
  • Business Loan Type
    Unsecured Term Loan
  • Intended Use of Funds
    • Equipment Purchase
    • Lease Improvements
    • New Location
    • Product or Service Expansion
    • Working Capital
  • Institution Type
    Marketplace Lender
  • Funding Time
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0 votes

Was approved for a loan. The process is not transparent and the verification process is a pain. I then found that I made a mistake in connecting one account. Could not change even by email. This is a German company and as rigid as I have ever experienced. After publishing a loan I was so disappointed with their marketing claims as opposed to the reality that I canceled my offering and will close my account. Never to do business with them again.Just say "nin"!

0 votes

I am a small business owner and my company is 100% web based, I make an income of approx 50k annually and have had 3 loans throughout my 6 years in business all of which has been paid early, in full. I try bitbond, which has an incredibly difficult process to submit an application which I wasn't even aware of at the start, until it was too late. After I submitted my application nothing could be added, no reason for being declined was given and certainly no assistance is or ... was available. When I contacted their support team they reassured me that I could not submit another application, I couldn't revise my last application and I was unable to get any real assistance or explanation. Being a registered business owner, with such an incredible loan history it baffles me they have no interest in me or my business considering we are 100% internet based and 80% bitcoin based. In my eyes and referrals eyes I was what was believed the perfect candidate for bitbond. Stay clear, stay smart and just get a conventional loan from someone you can actually trust. In my honest opinion I truly feel that bitbond is open to strictly steal users information. More Less

0 votes

Applied and got my loan funded within 3 days. Very happy

0 votes

As an eBay seller living in indai, Bitbond gave me a great chance to expand and grow my business.

0 votes

Highly recommend these guys. Lovely interface and really cool idea.

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