FAQ

Here you can find a summary of the most frequently asked questions. Please contact us if your question is not answered.

General

What is CroFun.be?

CroFun.be is a crowdfunding platform where you can support projects by donating, lending or investing money. There are no banks involved.

Can everyone borrow money?

When you want to have your project funded through a loan or an investment, you must meet the following conditions:

  • You are at least eighteen years;
  • You have the Belgian nationality;
  • You have a Belgian bank account;
  • You are self-employed or you represent an association.

Can everyone look for investors for his project?

Everyone that meets the following conditions, can offer a project:

  • You have the Belgian nationality;
  • You have a Belgian bank account;
  • You are self-employed or you represent an association.

Are you looking for people who want to support your project by lending or investing money in it? Then you need to be an association or a company, or you have to be self-employed.

Can I prepay my loan?

Yes, you can always prepay your loan without having to pay a termination fee. Of course you do have to pay the interest of the expired period.

Can someone prepay his loan?

Yes, project providers can always prepay their loan without having to pay a termination fee. Of course they do have to pay you the interest of the expired period.

How do I send my reward?

As project provider, you are obliged to send your rewards yourself. Mention in the description of your project exactly how and when you will deliver it.

How do I receive my reward?

You only receive a reward when 90% of the capital needed to fund the project is collected. The exact time depends on the project. In most cases, this is mentioned in the project.

How do I repay the borrowed capital?

Depending on the loan type, you will have to repay your loan monthly, annually or all at once. You are required to carry out the payments on the due dates specified in the amortization table.

How do I get the money back that I lent?

Depending on loan type, there will be a monthly, an annual or a one-time refund. You will receive payments on the due dates specified in the amortization table.

When can I support a project?

Once you are registered, you can support a project. Only if you want to lend or invest money, we ask you to enter some additional information.

What happens if my loan is not repaid?

Keep us informed on the repayments in My CroFun. When a project provider does not repay a loan, he will get a warning. You will get a copy of this. After three reminders, it is up to you to take any further measures. Each loan is subordinated. When companies, associations or self-employed workers cannot repay their loan and file bankruptcy, the loan can only be repaid, fully or partially, after they have repaid all their other debts.

What is a credit check?

A credit check analyses the personal creditworthiness of a project provider. You can compare it with the control executed by a bank when you apply for a loan.

What is a project score?

The project score assesses the completeness of a project. Each project provider receives a number of guidelines when he launches his project. The more extensive and concrete a project is presented, the higher the project score will be.

What is a solvency score?

The solvency score of projects is calculated on the basis of the financial plan. In addition, a number of financial ratios are used. Also in the case of existing companies, we look at the project and not at the numbers of the company.

Is there a helpdesk?

CroFun is an online web platform. In the Contact section you will find various ways to contact the staff or the management of CroFun.

Who’s behind CroFun?

CroFun is a crowdfunding platform that is funded by and for the crowd itself. Would you like to support us? Take a look at CroFun Project!

What is meant by support?

If you “support” a project, you make a financial contribution in the form of a donation. You may or may not get a reward in exchange.

What is a reward?

When you donate money, you usually get a reward. This may be a book, an album or a download for an app.

What is a donation?

When you donate money, you give a certain amount to a project provider. In most cases, you get a reward in return.

What is a loan?

A loan means that an investor provides money to a project provider for a certain period of time. He is obliged to pay back the capital with interest.

CroFun works with three types of loans:

  • Loan with a fixed monthly repayment
  • Loan with an annual interest payment, amortization of the capital at the end date
  • Loan with amortization of the capital and the interest at the end date

All loans are subordinated.

What is an investment?

When someone invests money, he gives a predetermined capital to a project provider. In exchange, he gets a return. This amount is calculated on the basis of the results of the company. The period of an investment ranges between five and ten years. More information can be found in the project offers.

Can I get my money back after I have made ​​my payment?

After the payment, you have fourteen days to change your mind. Within this period, you can decide not to go through with the investment that you have made. The only additional cost is for the Ogone payment service. Demanding this cost, CroFun follows the European Directives on Distance Selling.

What should I do in case of a fraudulent project?

There is a limited control of each project. However, we recommend you to check each project yourself. CroFun is not responsible for fraud detection. Ask yourself a few questions. Is there a link to social media? When was the page created? How big is the social network of the project provider? An answer to these questions will help you well on your way. Do you have doubts about the sincerity of a project? Please send us an e-mail.

Is there a capital guarantee?

CroFun does not offer a capital guarantee or protection. However, in case of a win-win loan, you can recover 30% of your capital in the personal income tax.

Is it risky to invest in a project?

Not all projects end in success. We recommend you to spread your capital over multiple projects. Thus, you reduce the odds of loosing your investment in one fell swoop.

Is it risky to lend money?

Not all projects end in success. Therefore, we recommend you to spread your capital over multiple projects. Moreover, only in case of bankruptcy, a loan is not fully repaid.

Is it risky to donate money?

Not all projects end in success. Even if you donate money, something can go wrong. For example, you do not receive a reward, although you were promised one. In that case, you can legally claim it. But since donations are usually rather limited amounts, this is often not interesting.

What does CroFun cost?

In order to post your project online at CroFun.be, you pay an advertising fee of €181. Additionally, you to pay a success fee of 5% of the raised capital + the costs for the payment provider.

Why should I support CroFun?

By supporting CroFun, you do not only help us to further develop the platform, but you also support all project providers. Thanks to your contribution, we can attract more audience and set up actions to give project providers a helping hand.

Can I use CroFun for all kinds of projects?

You have to be able to put your project in one the predefined categories. Is this not possible? Please send a brief summary of your project and your motivation to info@CroFun.be. Thus, we can check whether your project can be approved after all.

Why should I support a project?

You can support a project for several reasons. You can fund a project because you feel involved with it, because you get an interesting reward in return or because it possibly allows you to get a higher return out of it.

What is Fund-It-Forward?

Fund-it-forward is a concept where successful project providers support other projects with a FFWD label. It is based on the so-called Pay-It-Forward principle of the eponymous movie: together for a better and a more social world.

What is CroFun.be?

CroFun.be is a crowdfunding platform where you can support projects by donating, lending or investing money. There are no banks involved.

Can everyone borrow money?

When you want to have your project funded through a loan or an investment, you must meet the following conditions:

  • You are at least eighteen years;
  • You have the Belgian nationality;
  • You have a Belgian bank account;
  • You are self-employed or you represent an association.

Can everyone look for investors for his project?

Everyone that meets the following conditions, can offer a project:

  • You have the Belgian nationality;
  • You have a Belgian bank account;
  • You are self-employed or you represent an association.

Are you looking for people who want to support your project by lending or investing money in it? Then you need to be an association or a company, or you have to be self-employed.

Can I prepay my loan?

Yes, you can always prepay your loan without having to pay a termination fee. Of course you do have to pay the interest of the expired period.

Can someone prepay his loan?

Yes, project providers can always prepay their loan without having to pay a termination fee. Of course they do have to pay you the interest of the expired period.

How do I send my reward?

As project provider, you are obliged to send your rewards yourself. Mention in the description of your project exactly how and when you will deliver it.

How do I receive my reward?

You only receive a reward when 90% of the capital needed to fund the project is collected. The exact time depends on the project. In most cases, this is mentioned in the project.

How do I repay the borrowed capital?

Depending on the loan type, you will have to repay your loan monthly, annually or all at once. You are required to carry out the payments on the due dates specified in the amortization table.

How do I get the money back that I lent?

Depending on loan type, there will be a monthly, an annual or a one-time refund. You will receive payments on the due dates specified in the amortization table.

When can I support a project?

Once you are registered, you can support a project. Only if you want to lend or invest money, we ask you to enter some additional information.

What happens if my loan is not repaid?

Keep us informed on the repayments in My CroFun. When a project provider does not repay a loan, he will get a warning. You will get a copy of this. After three reminders, it is up to you to take any further measures. Each loan is subordinated. When companies, associations or self-employed workers cannot repay their loan and file bankruptcy, the loan can only be repaid, fully or partially, after they have repaid all their other debts.

What is a credit check?

A credit check analyses the personal creditworthiness of a project provider. You can compare it with the control executed by a bank when you apply for a loan.

What is a project score?

The project score assesses the completeness of a project. Each project provider receives a number of guidelines when he launches his project. The more extensive and concrete a project is presented, the higher the project score will be.

What is a solvency score?

The solvency score of projects is calculated on the basis of the financial plan. In addition, a number of financial ratios are used. Also in the case of existing companies, we look at the project and not at the numbers of the company.

Is there a helpdesk?

CroFun is an online web platform. In the Contact section you will find various ways to contact the staff or the management of CroFun.

Who’s behind CroFun?

CroFun is a crowdfunding platform that is funded by and for the crowd itself. Would you like to support us? Take a look at CroFun Project!

What is meant by support?

If you “support” a project, you make a financial contribution in the form of a donation. You may or may not get a reward in exchange.

What is a reward?

When you donate money, you usually get a reward. This may be a book, an album or a download for an app.

What is a donation?

When you donate money, you give a certain amount to a project provider. In most cases, you get a reward in return.

What is a loan?

A loan means that an investor provides money to a project provider for a certain period of time. He is obliged to pay back the capital with interest.

CroFun works with three types of loans:

  • Loan with a fixed monthly repayment
  • Loan with an annual interest payment, amortization of the capital at the end date
  • Loan with amortization of the capital and the interest at the end date

All loans are subordinated.

What is an investment?

When someone invests money, he gives a predetermined capital to a project provider. In exchange, he gets a return. This amount is calculated on the basis of the results of the company. The period of an investment ranges between five and ten years. More information can be found in the project offers.

Can I get my money back after I have made ​​my payment?

After the payment, you have fourteen days to change your mind. Within this period, you can decide not to go through with the investment that you have made. The only additional cost is for the Ogone payment service. Demanding this cost, CroFun follows the European Directives on Distance Selling.

What should I do in case of a fraudulent project?

There is a limited control of each project. However, we recommend you to check each project yourself. CroFun is not responsible for fraud detection. Ask yourself a few questions. Is there a link to social media? When was the page created? How big is the social network of the project provider? An answer to these questions will help you well on your way. Do you have doubts about the sincerity of a project? Please send us an e-mail.

Is there a capital guarantee?

CroFun does not offer a capital guarantee or protection. However, in case of a win-win loan, you can recover 30% of your capital in the personal income tax.

Is it risky to invest in a project?

Not all projects end in success. We recommend you to spread your capital over multiple projects. Thus, you reduce the odds of loosing your investment in one fell swoop.

Is it risky to lend money?

Not all projects end in success. Therefore, we recommend you to spread your capital over multiple projects. Moreover, only in case of bankruptcy, a loan is not fully repaid.

Is it risky to donate money?

Not all projects end in success. Even if you donate money, something can go wrong. For example, you do not receive a reward, although you were promised one. In that case, you can legally claim it. But since donations are usually rather limited amounts, this is often not interesting.

What does CroFun cost?

In order to post your project online at CroFun.be, you pay an advertising fee of €181. Additionally, you need to pay a success fee of 5% of the raised capital + the costs of the payment provider.

Why should I support CroFun?

By supporting CroFun, you do not only help us to further develop the platform, but you also support all project providers. Thanks to your contribution, we can attract more audience and set up actions to give project providers a helping hand.

Can I use CroFun for all kinds of projects?

You have to be able to put your project in one the predefined categories. Is this not possible? Please send a brief summary of your project and your motivation to info@CroFun.be. Thus, we can check whether your project can be approved after all.

Why should I support a project?

You can support a project for several reasons. You can fund a project because you feel involved with it, because you get an interesting reward in return or because it possibly allows you to get a higher return out of it.

What is Fund-It-Forward?

Fund-it-forward is a concept where successful project providers support other projects with a FFWD label. It is based on the so-called Pay-It-Forward principle of the eponymous movie: together for a better and a more social world.

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