The interest rate is always fixed when a borrower is applying for a loan from Trine. The interest rate of a loan is negotiated between Trine and the borrower before the loan becomes available for investors. Below we will explain this further and what kind of fees a borrower is charged when receiving debt financing from Trine.
Trine charges a management fee on the outstanding amount for each loan. This is deducted before a loan offer is presented towards investors and works on the same basis, meaning that Trine gets repayments when, and only if, the investors get repaid. Depending on negotiations and the borrower’s credit scoring it can vary but has historically been around 3-4%.
This is the fee that the borrower pays once a loan has become fully funded. It is a one-time fee on each loan funded on Trine’s site. Depending on negotiations it can vary between 2-4% of the total loan amount.
If a repayment from a borrower is delayed for more than 7 days, a late fee will be charged and this amount will be solely distributed among investors, meaning that Trine does not receive any late fees from borrowers at all.