October is a regulated French peer to peer lending platform focusing on business loans in France, Italy and Spain. They have a very small team of very professional employees with more experience than the average peer to peer lending platform right now
While it has been a hassle in the past to analyze documents or descriptions of projects in the past. October has worked hard to translate (almost) all project information to English.
The loans are not secured by a buyback guarantee, meaning you may lose some capital when investing in projects. Therefore it is very important to diversify your investments in multiple projects to minimize exposure to losing a lot of capital at once. The minimum investment in a project at October is 20 EUR, which is more than reasonable. There are various screens at your disposal to analyze your diversification regarding risk grade, industry, capital diversification, and average interest rate.
Support answers quickly and correctly
No buyback guarantee.
No auto investment
There are not many projects open at the same time on October. Once a project becomes available, you have to log in quickly on the October mobile apps for iOS or Android or on their website. Interest rates of loans offered have been overall stable ranging between 5.5% to as high as 9.5% depending on the risk of the investment opportunity.
Managing your portfolio is a breeze. There is a brief summary about the allocation of your assets and any interest earned. And also an indicator for the risk regarding diversification in your portfolio.
In the ‘Activity’ section, you can predict how much interests will be paid and principal will be repaid to you.
In the ‘Balance’ section, you can basically track how much money you put in and how much money you gained and lost.
The ‘Breakdown’ section allows you to analyze your portfolio’s health to see how many late payments there are in your portfolio. The ‘Score’ shows you how much you have allocated to each risk grade. The ‘Maturity’ shows the average length of all the loans in your portfolio. Finally you can also see the geographical diversification of your portfolio.
The ‘Sector’ section I like personally most, because it allows you to see the diversification of your investments per industry. Which probably allows you to minimize losses the most, when used properly. This is an unique feature among all platforms we have visited.