In Ukraine, "has gone" Czech financial company CFU Service, which is going to issue loans in the system of multilevel marketing (MLM). Czechs offer rate at 6-12% pa in UAH and will accept applications for credit by SMS. "Money" went to learn credit terms and returned to the editor in complete shock.
According to information received on the website of CFU Service, this structure is already working in several Eastern European countries - the Czech Republic, Poland and Hungary. The company itself says nothing about their work no worse than partisan.
One managed to find out exactly: specificity of the Czech creditors is that the company will not open their offices in those countries where the market goes. She has only one office in the Czech Republic, and through which decisions are made about granting loans. In all other countries, the lender uses the principle of MLM (multilevel marketing), that is through building a network of financial consultants. They must find potential borrowers.
Earnings of such consultants depends on two components: firstly, the number of loans, and secondly, the number of involved "in network" of people. That is, the consultant receives a percentage of the profits earned on the citizens, whom he led. Each loan issued by the borrower, engaged "your" structure that gives its creator 25 points, while his personal compensation is $ 50. If formed consultant network earned from 70 to 100 points, points are valued at $ 1.5, if 210-420 points - for $ 4. So you can not sell the product, but if you set up a large network of consultants, the income you can get a very good (remember the infamous Herbalife).
What offer?
Presentation about their products in Ukraine, representatives of CFU Service said that before 2008, they plan to issue a consumer credit in the amount of not more than 38 500 hrn. Terms - 12% per annum in UAH for loan period up to six years. For consumer loans that record low interest rates. For now, the nominal rates on such loans from banks are 20-36% per annum in UAH.
However, all is not so simple. Come and get a loan as soon possible. Consideration of application for a loan occurs only in the Czech office of the company. Application itself is done by sending an SMS to Czech Republic (yes, SMS from your mobile phone) to a special number. In such a communication identification number of the borrower, his name, mobile phone and credit amount.
The answer should come in the form of SMS within three days. If it is positive, you need to go to the bank to deposit company broker a commission in return for loans of $ 1,800 USD (regardless of loan size) and send an SMS with the number of card payments for payment of commission.
Well if it is a loan in the amount of the maximum amount - 38 500 USD, then the commission is not so pronounced. But if the loan does not exceed 5-7 thousand UAH, which is typical for consumer loans, the commission hit hard the borrower can afford.
After that, get money on the hand may be alleged, within three months: (while in a bank or credit union - within half an hour (with all documents). According to information received "money", at the time of signing the numbers in print, no credit under this scheme has not yet been received - but the company has already held 22 September loud public presentation.
The key question in all this - who is a direct loan agreement and through whom are issued money? As it was explained, "Money" financial consultants, such contracts will be signed directly with the Czech lender - CFU Service. We have already sent the first application (or rather, SMS-ki), loans, and brokers expect sending the forms of these instruments by mail. "After a week or two we get the form. While the credit agreements nobody never seen "- told us to broker Alexander.
And what about the licenses Financial Services Commission to issue loans to individuals? For her, as reported by "money" in the Commission, no one approached. "We know about the work of this organization, but the documents for licensing are not served" - told us in the Financial Services Commission. All this is alarming. Because the borrower does not simply get a loan in an unlicensed company. He also concluded an agency agreement with the mediator, that is, gets the right to engage in a similar system for new borrowers.
Now we - one team
Such an agency agreement signed with the Ukrainian company "Optima Plus (which is the link between the CFU Service and financial advisors). Under the agreement, the borrower will provide the company's services "to facilitate the conclusion of flex-contracts with third parties. Under the flex-contract (the word-then what?) Is an agreement to provide "information and advice about obtaining loans from customers who have the right to extradite them in accordance with Ukrainian legislation. In other words, blame the intermediary company that she gives out loans without a license from the regulator, is almost impossible.
The most impressive in the contract is a section on how and for what the company will be fined their financial advisers. For example, only the disclosure of so-called confidential information to an fine of 1000 UAH. If the agent does not communicate in the three days that has signed a contract with a new client, and not to transfer money to the account, it waits for a fine of $ 150 USD for each such case.
But the most unpleasant fact that if the borrower is involved in the system decides to terminate the contract, all costs would be borne by the consultant, who brought him. He will have to pay the company a fine of double the NBU discount rate (16%).
Suggest the sadness and traditional MLM extortion. To access the network CFU Service and receive personal financial facilities consultant or advisor will need to pay $ 50. After that, the candidate receives a folder with the registration materials and attend seminars conducted by the company (for participation in the seminar also had to pay $ 50). Anyone who wants to expand its network, has put on 200 USD per folder for a new advisor (at the first seminar on September 22, our eyes, people are buying in a folder on the amount of more than 10 000 USD). The system works flawlessly - taking the first contribution for the registration, the person can not stop and do not pay - and for the workshop, and a lot of "material to work" - in hopes of later return his money.
If translated into money the amount of consultants included in the network (according to rumors - more than 15 000 people), and average earnings of the company on each of them (about 500 USD), then go for a good amount of success to start business in Ukraine, with "zero" . Note: this is all before the start of the process of lending, which in the absence of a license may not begin.
The following year the Czechs promised to start issuing loans secured on almost any amount up to six years under 6-9% pa in UAH. No less fabulous and conditions promise for the future of mortgage - 5% per annum for up to 30 years with zero initial contribution.
But if it comes to mortgages? After all, the financial condition of borrowers practically tested - with their required minimum documents, and a decision on granting a loan generally accepted distance.
Another detail - credits may well "give" and bypassing the Czechs: in the absence of a license, unscrupulous brokers are quite capable of trying to do it with money collected at the workshops, and large commissions. Then all this will greatly resemble the financial pyramid, which could collapse in an instant, leaving candidates for low-cost loans with nothing.
Catherine Otchenash, Director of the Department for Supervision of Financial Companies Financial Services Commission:
- No CFU Service, or "Optima Plus" to us for the licenses for the issuance of credits is not treated. How lending to MLM system, in principle, lies outside the legal field of Ukraine. Moreover, if credits will be issued a Czech company without creating the company in Ukraine. Perhaps the West is and perhaps, but we have totally different laws. And then I do not understand how such a structure would be to borrow money at such a low-cost loans? Based on the information which we possess, all this looks like an attempt to earn money through seminars, admission fees, sales of materials and so on. It is possible that the financial pyramid, and people who have paid fees and commissions, will be a long wait for the promised loans.
According to information received on the website of CFU Service, this structure is already working in several Eastern European countries - the Czech Republic, Poland and Hungary. The company itself says nothing about their work no worse than partisan.
One managed to find out exactly: specificity of the Czech creditors is that the company will not open their offices in those countries where the market goes. She has only one office in the Czech Republic, and through which decisions are made about granting loans. In all other countries, the lender uses the principle of MLM (multilevel marketing), that is through building a network of financial consultants. They must find potential borrowers.
Earnings of such consultants depends on two components: firstly, the number of loans, and secondly, the number of involved "in network" of people. That is, the consultant receives a percentage of the profits earned on the citizens, whom he led. Each loan issued by the borrower, engaged "your" structure that gives its creator 25 points, while his personal compensation is $ 50. If formed consultant network earned from 70 to 100 points, points are valued at $ 1.5, if 210-420 points - for $ 4. So you can not sell the product, but if you set up a large network of consultants, the income you can get a very good (remember the infamous Herbalife).
What offer?
Presentation about their products in Ukraine, representatives of CFU Service said that before 2008, they plan to issue a consumer credit in the amount of not more than 38 500 hrn. Terms - 12% per annum in UAH for loan period up to six years. For consumer loans that record low interest rates. For now, the nominal rates on such loans from banks are 20-36% per annum in UAH.
However, all is not so simple. Come and get a loan as soon possible. Consideration of application for a loan occurs only in the Czech office of the company. Application itself is done by sending an SMS to Czech Republic (yes, SMS from your mobile phone) to a special number. In such a communication identification number of the borrower, his name, mobile phone and credit amount.
The answer should come in the form of SMS within three days. If it is positive, you need to go to the bank to deposit company broker a commission in return for loans of $ 1,800 USD (regardless of loan size) and send an SMS with the number of card payments for payment of commission.
Well if it is a loan in the amount of the maximum amount - 38 500 USD, then the commission is not so pronounced. But if the loan does not exceed 5-7 thousand UAH, which is typical for consumer loans, the commission hit hard the borrower can afford.
After that, get money on the hand may be alleged, within three months: (while in a bank or credit union - within half an hour (with all documents). According to information received "money", at the time of signing the numbers in print, no credit under this scheme has not yet been received - but the company has already held 22 September loud public presentation.
The key question in all this - who is a direct loan agreement and through whom are issued money? As it was explained, "Money" financial consultants, such contracts will be signed directly with the Czech lender - CFU Service. We have already sent the first application (or rather, SMS-ki), loans, and brokers expect sending the forms of these instruments by mail. "After a week or two we get the form. While the credit agreements nobody never seen "- told us to broker Alexander.
And what about the licenses Financial Services Commission to issue loans to individuals? For her, as reported by "money" in the Commission, no one approached. "We know about the work of this organization, but the documents for licensing are not served" - told us in the Financial Services Commission. All this is alarming. Because the borrower does not simply get a loan in an unlicensed company. He also concluded an agency agreement with the mediator, that is, gets the right to engage in a similar system for new borrowers.
Now we - one team
Such an agency agreement signed with the Ukrainian company "Optima Plus (which is the link between the CFU Service and financial advisors). Under the agreement, the borrower will provide the company's services "to facilitate the conclusion of flex-contracts with third parties. Under the flex-contract (the word-then what?) Is an agreement to provide "information and advice about obtaining loans from customers who have the right to extradite them in accordance with Ukrainian legislation. In other words, blame the intermediary company that she gives out loans without a license from the regulator, is almost impossible.
The most impressive in the contract is a section on how and for what the company will be fined their financial advisers. For example, only the disclosure of so-called confidential information to an fine of 1000 UAH. If the agent does not communicate in the three days that has signed a contract with a new client, and not to transfer money to the account, it waits for a fine of $ 150 USD for each such case.
But the most unpleasant fact that if the borrower is involved in the system decides to terminate the contract, all costs would be borne by the consultant, who brought him. He will have to pay the company a fine of double the NBU discount rate (16%).
Suggest the sadness and traditional MLM extortion. To access the network CFU Service and receive personal financial facilities consultant or advisor will need to pay $ 50. After that, the candidate receives a folder with the registration materials and attend seminars conducted by the company (for participation in the seminar also had to pay $ 50). Anyone who wants to expand its network, has put on 200 USD per folder for a new advisor (at the first seminar on September 22, our eyes, people are buying in a folder on the amount of more than 10 000 USD). The system works flawlessly - taking the first contribution for the registration, the person can not stop and do not pay - and for the workshop, and a lot of "material to work" - in hopes of later return his money.
If translated into money the amount of consultants included in the network (according to rumors - more than 15 000 people), and average earnings of the company on each of them (about 500 USD), then go for a good amount of success to start business in Ukraine, with "zero" . Note: this is all before the start of the process of lending, which in the absence of a license may not begin.
The following year the Czechs promised to start issuing loans secured on almost any amount up to six years under 6-9% pa in UAH. No less fabulous and conditions promise for the future of mortgage - 5% per annum for up to 30 years with zero initial contribution.
But if it comes to mortgages? After all, the financial condition of borrowers practically tested - with their required minimum documents, and a decision on granting a loan generally accepted distance.
Another detail - credits may well "give" and bypassing the Czechs: in the absence of a license, unscrupulous brokers are quite capable of trying to do it with money collected at the workshops, and large commissions. Then all this will greatly resemble the financial pyramid, which could collapse in an instant, leaving candidates for low-cost loans with nothing.
Catherine Otchenash, Director of the Department for Supervision of Financial Companies Financial Services Commission:
- No CFU Service, or "Optima Plus" to us for the licenses for the issuance of credits is not treated. How lending to MLM system, in principle, lies outside the legal field of Ukraine. Moreover, if credits will be issued a Czech company without creating the company in Ukraine. Perhaps the West is and perhaps, but we have totally different laws. And then I do not understand how such a structure would be to borrow money at such a low-cost loans? Based on the information which we possess, all this looks like an attempt to earn money through seminars, admission fees, sales of materials and so on. It is possible that the financial pyramid, and people who have paid fees and commissions, will be a long wait for the promised loans.
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