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Terms & Conditions

A. Users Identification and Verification

  1. Both lenders and borrowers are legally required to be identified by uploading a valid signed and dated copy of their Swiss passport/Swiss ID Card or a Swiss Residence Permit (Aufenthaltsbewilligung) that is valid for the duration of the loan period for borrowers. This information is mandatory and will be verified by 3CF. (This copy will be kept private and confidential.)
  2. By registering for a social loan, the registered member must accept and abide by 3CF Terms and Conditions. 

B. Borrowers’ Fees - Listing and Service

  1. A listing fee (details for this payment will be sent by e-mail) for individuals/businesses must be paid for the review of ‘Request New Loan Application Form' documents, together with the assessment of the associated credit checks and indicative rating . Successful loan applications will be authorised and will then be posted on the 3CF website. If an individual/business borrower’s loan application is not approved, and therefore not posted on the 3CF website, the listing fee will not be refunded. 
  2. A borrower’s service fee (for individuals) will be applied for the duration of the loan amount per annum of the total loan amount. For business borrowers, the service fee is applied for the duration of the loan period. This fee will be deducted from the borrowed amount before release to the borrower. At all times, third party fees, as well as fees for money transfer and bank charges, are carried by the registered members and are not covered by 3CF. (Minimum service fee amount applies).

C. Penalties Applicable to Borrower

Penalties relating to a violation of the settlement of dues of the Loan Agreement Contract and Terms and Conditions are as follows: (individual/business respectively)

  1. for late payment <5 days: CHF10/100
  2. for late payment >5days: CHF25/250 
  3. a non-payment within 30 days of the due date will be classified as a default on the Loan Agreement Contract: hence, all outstanding amounts are due and payable.
  4. upon the occurrence of a debt collection case; outstanding payment will accrue an annual interest of 10% (compounded) of the outstanding loan value and this will be credited to the corresponding lenders.
  5. late dues will be reflected in traffic light payment indicator on the borrower’s loan.
  6. when a loan is posted to the Debt Collection Agency, the borrower must reimburse the lender for any initial debt recovery costs.

D. Early Settlement of Borrower’s Outstanding Loan

Borrowers may, at any time during the active loan period, opt to pay the outstanding amount of their respective loan in one total and final payment. Early settlement of the loan amount requires the outstanding amount to be paid back in full interest and repayment, for which 3CF charges no fees.

E. Social Funding of Loans by Lenders

  1. Once a lender has completed the registration process, they are able to provide 3CF with the necessary information required to fund/buy a loan.
  2. The information required, in order to fund a borrower’s loan, is captured on the lender’s dashboard under ‘Fund/Buy Loan’.
  3. When all mandatory information has been provided, the lender will only be able to fund/buy a loan once 3CF have verified and authenticated the information. If all information is correct and in order, 3CF will authorise the lender to bid for the borrowers’ loans on the website.
  4. All information provided is captured on the user’s dashboard.
  5. Single authorisation enables funding of both Crowdlending and Crowdfactoring simultaneously.

F. Lender’s Service Fee

A lender’s service fee will be applied to the total loan amount annually, for the duration and amount of the loan. (Minimum service fee amount applies).

G. Lender’s Fees - Borrower in Default

  1. 3CF will inform the lender if a borrower fails to repay the agreed amount on the due date and will inform the borrower of his obligations via an e-mail reminder.
  2. for the preparation and forwarding of pre-legal debt collection request: CHF 0
  3. for the creation and transmission of the legal debt collection request: at the request of the lender in case of unsuccessful pre-legal collection, all official legal fees are charged to the lender.
  4. lender’s fees listed above are due immediately and are invoiced separately.

H. Lender’s Secondary Selling Market Fees

  1. Buyers/sellers of individuals’ loans will be charged a fee of the sale/purchase price in favour of 3CF.
  2. Buyers /sellers of business loans will be charged a fee of the sale/purchase price in favour of 3CF.

I. Lender’s Autoinvest Fee

A lender’s service fee, for automated bidding of loans, will be applied to the total loan amount annually, for the duration and amount of the loan (as with point F. above).

J. Non-compliance of Loan, Legal and Trademark Obligations

For infringement of 1. and/or 2. below, 3CF explicitly reserves the right to take legal action as and when warranted;

  1. for infringement and violation of borrower’s Loan Agreement Contract, 3CF reserves the right to caution members on their rights and obligations in respect to fulfilling the Loan Agreement Contract with lenders and may lock, block or delete the user account of a registered member temporarily or indefinitely when in breach of Loan Agreement Contracts Terms and Conditions (in such cases where an account will be deleted, the Loan Agreement Contract obligations and its associated Terms and Conditions are not affected and the outstanding amount is due in full).
  2. for infringement of trademarks, copy write or intellectual property rights, 3CF reserves the right to delete the offending item, lock, block or delete a registered member’s account temporarily or indefinitely when in breach of these obligations.

K. Funding Facilitation

  1. 3CF provides a platform to facilitate Loan Agreement Contracts between lenders (individuals/businesses) and borrowers (individuals/businesses).
  2. 3CF facilitates bids for loans at requested rates of interest on a ‘first come-first served’ principle; funding part of or the entire loan. 3CF concludes and settles Loan Agreement Contracts between borrower(s) and lender(s) on a ‘one-to-many’ principle i.e. single borrower funded by multiple lenders (maximum of 20 lenders per loan to comply with Collective Investment Rules).
  3. 3CF does not provide or offer credit as a company on the platform or any associated investment advice in conjunction with offerings on the website.
  4. Both individual borrowers and lenders remain anonymous throughout the bidding process and will only be identified to each other after the bidding is closed and Loan Agreement Contracts  are exchanged (businesses borrowers must identify themselves on the platform for the bidding process). 

L. Investment Risks

The lender should be aware that investing in loans may be associated with investment risks, which may include uncertainty in the return of the respective investment. Lenders should therefore, before placing a bid, weigh the risks and consider in particular whether a total loss of the invested amount is economically manageable for them. The magnitude of investing in business loans potentially carries a greater risk than investing in individuals’ loans.

M. Borrower’s and Lender’s Dashboards

  1. Each registered member, whether a borrower or a lender, will have a dashboard that indicates the status and progress of each specific loan and associated parameters, together with the status of successfully completed loans and of returns etc.
  2. The dashboard can only be viewed by each individually registered member.
  3. The respective dashboards are solely for the purpose of registered members and not to be viewed or operated by any other individual or third party.
  4. When using the platform, registered members must comply with the applicable laws and ensure that their respective usage, loan applications etc. and associated bids are lawful and do not violate any third party rights.
  5. Registered borrowers and lenders can communicate before, during and after the bidding process.
  6. Registered members are solely responsible for their interactions with other 3CF members. 3CF reserves the right, but has no obligation, to monitor disputes between registered members.
  7. Registered borrowers and lenders must check their respective e-mail periodically as 3CF will inform them of specific site notifications – dues repaid; loan funding or Autoinvest matches etc.
  8. Second collective signatories for businesses, will have ‘read-only’ access only to the information contained on the first signatory’s dashboard.

N. Request Loan

  1. As part of the loan application process, individual/business borrowers are required to be identified, address authenticated and credit checked.  Various checks must be satisfied before a borrower’s loan request can be posted and funded on the 3CF website. The loan application process is initiated by logging in and clicking the ‘Request Loan’ button on the dashboard. All uploaded information must be signed and dated.
  2. Borrowers must have clicked and read the Terms and Conditions, which is an integral part and declaration of the loan application process, as well as send the listing fee. (Details for this payment will be sent by e-mail.)
  3. Borrowers must also provide a listing fee to 3circlefunding GmbH for the purpose of processing the loan application. 
  4. The listing fee should be transferred from the borrower’s bank account to the 3circlefunding GmbH business bank account at Postfinance.  
  5. The borrower’s ‘Request loan’ application submitted via the website (individual and business), authorises 3CF to perform an in-depth credit check. The borrower expressly agrees to the publication of these credit reviews on the website
  6. The loan application information enables 3CF to build up a financial picture that contributes to the borrower’s overall ‘indicative’ credit rating (A, B, C and Start-up) and highlights the ability of the borrower to pay back the loan. This information will be assigned to the borrower’s loan posting for lenders to review. (Start-up means that no credit rating is available).
  7. ‘Request New Loan Application Form’ submitted via the 3CF platform is subject to scrutiny by 3CF at all times.
  8. Once a ‘Request New Loan Application Form’ has been approved by 3CF, certain details will be published on the website (see ‘Request Loan’ application form documents required). 

O. Credit Verification

3CF uses the following credit check agencies;

  1. Additionally, debt and Betreibungsamt registers may be checked ( and various chambers of commerce).
  2. The borrower’s information will be fully assessed by 3CF, and if all is correct and in order, the borrower’s ‘Request Loan’ application will be published on the 3CF website.
  3. 3CF reserves the right to reject, without prior notice, any loan application or request.

P. Funding of loans by Individuals/Businesses on the 3CF Plattform

Lenders can fund a loan on a ‘first come - first served’ basis meaning they can fund part or the whole of the borrower’s requested loan as long as they match the minimum funding amount, interest rate, credit rating and duration. 

Funding Rules;

  1. An individual lender must electronically sign and date (via the lender’s dashboard) the Form A - Establishment of the beneficial owner’s identity. This form authorises 3CF to accept the funds after close of bidding and exchange of contracts. 
  2. A business lender must electronically sign and date (via the lender’s dashboard) the Form K - Establishing of the controlling person of operating legal entities and partnerships both not quoted on the stock exchange. This form authorises 3CF to accept the funds after close of bidding and exchange of contracts.
  3. The borrower (individual/business) must electronically sign and date Form A/K before any loans can be sanctioned.
  4. ‘First come - first served’ basis to lenders who match the minimum funding amount, interest rate, credit rating and duration offered by the borrower.
  5. Social loans can only be funded to a maximum of 100%, within a specified end date.
  6. No borrower can be a lender at the same time.
  7. Only business borrowers can have multiple loans running at the same time on the 3CF platform.
  8. Lenders can fund a loan multiple times.
  9. Lenders can fund multiple loans at any time.
  10. Minimum borrowing loan amounts (see  Costs) are applicable to both individuals and businesses. Increments of 100 thereafter are permitted above this minimum.
  11. The system will calculate the minimum bidding amount after each consecutive bid. Increments of 100 thereafter are permitted above this minimum.
  12. Once the bidding is closed and the Loan Agreement Contracts is exchanged between all parties, the funds to fulfil the bid must be deposited by the lender(s) at the 3CF escrow account no later than 3 days after the exchange of contract above.
  13. If one of the parties (borrower or lender) does not sign the Loan Agreement Contract or any lenders do not transfer their payment for their respective bids, the remaining payments will be refunded back to the originating lenders. Thereafter, the loan will be re-published on the 3CF website for lenders to bid once again. There are no charges to either the borrower or the lenders in this case. In either case above, all previously signed and dated Loan Agreement Contracts become null and void.

Q. Financial Advice and Investment Decisions

  1. 3CF is not a financial advisor to potential lenders and provides purely indicative parameters concerning a borrower’s ability and associated risks to repay the borrowed amount at a specified interest rate and duration.
  2. In agreeing to contract with the borrower, the lender bears all the risks for the invested amount; the lender should draw upon their own analysis, evaluation and conclusions concerning the specified borrower. 3CF can only provide an insight in the solvency of a borrower and is not responsible or liable in any way for investment decisions made by respective lenders. Previous solvency and timely fulfilment of previously borrowed loans are no indication of future events.
  3. The assessment of third parties’ credit information created by 3CF are provided for an indicative nature only and is not a definitive statement about the actual solvency of the borrower or a recommendation for raising or engagement with a loan. The reliability of repayment by a borrower is purely at the contractual obligation of the borrower.
  4. 3CF accordingly accepts no liability for non-compliance with loan terms and agreements by the respective borrower.

R. Acceptance of the Loan Application

  1. After conclusion that all relevant borrower documentation, information and associated credit ratings and creditworthiness is correct, in conjunction with the ‘Request Loan’ application; the borrower’s loan requirements are posted on the website
  2. Loan applications are not guaranteed approval by 3CF or being posted for funding and 3CF reserves the right to reject the loan application at any stage of the process.
  3. Once loans are posted on the 3CF platform, only loans that are not yet funded can be withdrawn.

S. Bids: Matching Borrowers and Lenders

  1. Registered and authorised borrowers’ loan requests posted on the website can be funded by multiple lenders on a ‘first come - first served’ basis; provided they meet the required minimum funding amount, interest rate, credit rating and duration and the whole or part amount of the loan is still available.
  2. The system will automatically match the lenders’ bids offered to the borrower’s posted loan. (Maximum of 20 lenders per loan to meet Collective Investment Rules.)

T. Secondary Selling Market (available to both individuals and businesses)

3CF offers a Secondary Selling Market, whereby registered lenders can sell their loan parts to other registered lenders on the website to free up their illiquid loans if the need arises. The Secondary Selling Market is open to registered lenders (individuals/businesses) who would like to buy loan parts from other registered lenders (individuals/businesses). 

The Secondary Selling Market enables lenders to liquidate a loan at either amount: cost, premium, flat or at a % discount.

  1. Loans cannot be posted for sale on the Secondary Market less than 10 days before the monthly payment due date.  
  2. The Secondary Selling of loans by lenders does not affect the contractual obligations of the borrowers in any shape or form. Therefore, upon a secondary sell, both lenders will receive an Accession Agreement, to be electronically signed and dated and all else will remain in place concerning the original Loan Agreement Contract. The borrower will also receive a copy of the Accession Agreement. The amended contract for both the borrower and the new lender(s) is legally binding and a copy of the original Loan Agreement Contract will be posted to the new owner’s (lender’s) dashboard.
  3. If the buyer of the loan part does not electronically sign and date the Accession Agreement and send payment for the loan within 3 days of the e-mail issuance, the Accession Agreement will become null and void and will be cancelled by 3CF. Thereafter, the loan part will be returned to the seller’s dashboard and the buyer of the loan may immediately be excluded from using their dashboard and their membership could be terminated.
  4. If the seller does not electronically sign and date the Accession Agreement within 3 days, the Accession Agreement will become null and void and will be cancelled by 3CF. Thereafter, the loan part will be returned to the seller’s dashboard but the seller (lender) may immediately be excluded from using their dashboard and their membership could be terminated.
  5. If the loan part is not sold within 7 days, it will be returned back to the originating seller’s (lender’s) dashboard. Once the unsold loan part has been returned to the dashboard, the lender can keep it for the duration of the loan term or put it up for sale again on the Secondary Selling Market.
  6. Buying a loan via the Secondary Selling Market is entirely at the lenders’ discretion and assessment, as with funding a borrower’s loan requirements and 3CF does not accept liability for lenders’ investment decisions associated with a purchase via this marketplace.
  7. Loans can be sold on multiple times.
  8. Buyers/sellers of individual/business loans will be charged a fee, respectively, of the purchase/sale price in favour of 3CF. (Minimum service fee amount applies)
  9. A borrower, by agreeing to these Terms and Conditions, expressly grants permission for the sale and purchase of loan parts of their Loan Contract Agreement.

W. Autoinvest Funding of Loans

Autoinvest enables lenders to set up and automatically bid for loans with predefined buying criteria, by enabling one or all 3 panels per credit rating A, B or C.

  1. Autoinvest is simply an automated way of bidding for a loan posted on the platform by a borrower. It follows the same process after bidding is closed, via exchange of contract and then payment for the lender’s automatic bid. Autoinvest functions the same as bidding directly via the 3CF website and is therefore subject to the same fees, costs and operation as bidding directly on the platform.
  2. Enabling/disabling Autoinvest is the sole responsibility of the lender and any accountability of erroneous investments made via this function lies with the respective lender.
  3. Autoinvest is subject to the same Terms and Conditions between borrowers and lenders for contractual fulfilment and exchange of contracts as bidding for loans via the website.
  4. Lenders are not guaranteed a match between their Autoinvest profile and a borrower’s request for funding.
  5. Matched Autoinvest bids are only matched to what is available.
  6. Autoinvest is open to both individuals and businesses enabling them to invest in individual borrowers’ loans posted on the platform.
  7. Crowdlending Autoinvest does not allow automated bids for business/start-up loans posted on the website. 
  8. The Autoinvest function will remain active, i.e. will continue investing in loans, until the ‘valid-to’ date set by the lender expires. 

X. Clearing, Payment and Settlement of Bids (Exchange of Loan Agreement Contract)

  1. After the bidding is closed, the borrower and all the lenders involved in the bidding process (bid either manually via the website or via Autoinvest) will be requested to electronically sign and date the Loan Agreement Contract.
  2. Lenders that do not comply with their respective obligations of electronically signing and dating the Loan Agreement Contract within 3 working days of issuance of the e-mail request, will have their respective bid removed from the Loan Agreement Contract and the loan will be republished on the website for other lenders to fulfil the open bid. Lenders that do not comply with the loan agreement process may be excluded immediately from using their dashboard and their membership could be terminated. Republishing of the loan request, in this instant, carries no charges for the borrower or lenders.  
  3. A borrower may decide not to electronically sign and date the Loan Agreement Contract within 3 working days of issuance of the e-mail request. In such an event, the borrower must inform 3CF with immediate effect. Thereafter, the Loan Agreement Contract  will become null and void and be cancelled by 3CF. Borrowers that do not comply with the loan agreement process may be excluded immediately from using their dashboard and their membership could be terminated.
  4. 1 and 2 above are applicable to bids both via the website directly and Autoinvest function.
  5. Loan Agreement Contract s are only valid and exchanged when all participating parties to the contract, borrower and lender(s), have electronically signed and dated the Loan Agreement Contract  and thereafter the Loan Agreement Contract  will be displayed on the respective registered members’ dashboards.
  6. After the exchange of contracts, the lenders will have 3 days to deposit the funds to the 3CF escrow account (loan amount plus service fee), in order for the loan to be sanctioned and the funds transferred to the borrower.
  7. Lenders that do not comply with their contractual obligations in funding the loan within this 3 day period after receipt of the e-mail request, may immediately be excluded from using their dashboard and their membership could be terminated. 

Y. Registered Members’ Obligations

Loan Agreement Contracts between all parties (borrowers/lenders) can be cancelled by 3CF if a number of registered members fail to honour their commitments; either by not signing and dating the Loan Agreement Contract  (hence, no exchange) or by failing to pay for their respective bids after the exchange of contracts. Any funds collected in the latter instance will be returned to the lenders within 3-5 working days of a Loan Agreement Contract being cancelled by 3CF. Lenders are entirely accountable for the correctness and accuracy of input in terms of bidding for loans, Secondary Selling of loans and Autoinvest bidding for loans and 3CF cannot be held responsible in any shape or form for erroneous inputs by lenders.

Z. Installment of Dues

  1. The borrower must pay the monthly instalments (dues) on the relevant due date to the 3CF escrow account, from where it is forwarded to the lender(s).
  2. A payment schedule is included in all Loan Agreement Contracts.
  3. Individuals begin paying the first due; one month after the loan has been sanctioned.
  4. Businesses have the option of deferring the start of the monthly payments (interest plus repayment amount) of the loan. However, in the case of an interest-only payment, interest is still due one month after the loan has been sanctioned. The business borrowers must define the number of months they want to defer the monthly payment (interest plus repayment amount) of the loan amount when they ‘Request Loan’.
  5. 3CF instructs borrowers, regarding payment of dues on the due dates, to set up an electronic standing order in order to facilitate instalments automatically by electronic bank transfer and in a timely manner. Late payments will incur penalty costs. (Details for these payments will be sent by e-mail)