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Did you see Credi CEO – Tim Dean’s interview for CPA’s InTheBlack?
- Published July 13, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
We all want to help out where we can when it comes to family but it’s important to have the right documentation in place in order to stop potential heartache and risk of default.
“Tim Dean, founder of cloud-based loan documentation (and management) service Credi, believes a simple paperwork process, which keeps both parties on their toes, is the answer. The idea of going to a lawyer to draw up an agreement would not excite most parties, Dean says, and yet documentation will remove that uneasy conversation about last month’s missing repayment. Dean’s site has a loan-builder module which, he says, can do the complicated maths and present the loan in an easily digestible package.
“Some people deal in rates, while others say: ‘I’ll lend you A$100,000; you can repay me A$101,000 back in two years’ time’. Others may want monthly repayments. The platform can handle all the different scenarios,” says Dean.”
About Credi Pty Ltd
If you’ve ever loaned your children money you are officially a branch manager of “The Bank of Mum and Dad”. You are also a part of one of fast growing sectors of the Australian economy. Credi.com was born out of the pressing need to document loans between family members, friends and businesses. It removes the stress, the embarrassment and the risk of legal action, formalising a loan within minutes and without a scrap of costly, time-consuming paperwork.
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