UFC-Que Choisir's society is worried about the increase in the number of repayment of participatory loans to businesses and calls for better legal protection for consumers, according to a statement released on Monday.
The society, which already in 2017 has sounded the alarm for crowdfunding (or "crowdfunding") dangers, again stating "continuous abusive sector".
In France, this method of funding, which allows individuals to lend money to SMEs through Internet platforms, will begin in early 2010.
"The perception is a particular concern because almost one in ten (9.5%) of the companies that are now funded do not repay its deadline, which is an explosion of & # 39 ; The default rate of more than 120% since our study in February 2017, "he said. worried about society.
"The cleaning has not been done"
The society then identified some bad market practices, such as non-compliance with the method of calculating default indicators or a partial presentation of financing projects, resulting in recommendations from the Autorité des marchés (AMF) and the Supervisory Authority and Resolution Prudential (ACPR), gendarms & financial and banking sectors.
But "almost a year later, the household has not yet been done, and we see new drifts," denotes the UFC-Que Choisir.
In particular, "the performance indicators set up by the French Association of Participation Finance, which represent the interests of the platforms" are "counterproductive as they overwrite the potential gains by counting just some known shortcomings , without taking foreseeable events to come ", states the society communicates it.
The economic model of the platforms is also considered a "cross". The last one is paid on a commission only on the amounts borrowed ", they are pushed to offer funding to a maximum of companies without reliability and reliability analysis of their solvency.
In addition, high interest rates that lend "object to the largest solvent companies, weaken SME / VET lenders and thus increase the risk of not doing so. repayment ".
The boom in the crowdfunding sector was facilitated in October 2014 with the adoption of the new regulatory framework that allows companies to raise up to one million euros. But European Central Bank's drop-in interest rates have put companies in the sector in trouble.
Already in mid-October, Unilend, a specialist at crowdfunding for small and medium-sized enterprises, announced that he was unable to pay in guaranteeing repayment of lenders.