1)    You choose the amount of your social microloan. Let's say 50€. €1 is added to this 50€ to cover Babyloan's money transfer costs and the website operating expenses.

2)    The transaction of 51€ is made via a secure online payment platform into a BRED bank account: 50€ dedicated to the "project" ; 1€ to cover Babyloan operating expenses.

3)    The 50€ for the proejct is integrally transferred to the entrepreneur and Babyloan local partner, the MFI, which works closely with the entrepreneur you have chosen to support. This intermediary is indispensable as it has a bank account to receive your money, whereas, the entrepreneur, by definition, does not, since banks refuse to work with them.

4)    The MFI allocates the 50€ to the project of the entrepreneur you chose to support.

Note : Babyloan works as a REfinancing platform and not as a direct financing system. It can happen that the MFI already "advanced" the microcredit to the entrepreneur when you make the online social micro loan. Indeed, as we are still in a launching phase and particularly for seasonal projects , we did not want to make the realisation of the project  "dependant" on the Internet users' good will and click. Babyloan is no microfinance reality show of ! However, we limit the funding time of the project not to create too much time discreprency between the projet and your micro loan, so your money is really used to finance the project. After the delay of 3 months maximum , we send all the money even if the funding has not been completed by the Internet users. The MFI will complete the funding.

 

5) At the end of the microloan term, the entrepreneur has fully paid back his microcredit to the MFI. The MFI then transfers the money into your Babyloan piggy bank. You can therefore use this 50€ to support another project or get them back into your banck account.