Information collected, conditions of eligibility, analysis and selection

Over-finance is around a hundred people who work every day with a single goal: to allow the French to regain power over their constrained spending. In other words: help you save money onyour insurance and service contracts rather than having to dip into your pleasure budget (it’s still nicer). Together for a fairer, more humane and more sustainable world. Over-finance wishes to take part in the initiatives necessary to put people at the heart of exchanges and support the development of reasoned and responsible consumption.

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1. Information collected

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• Via the application form, in particular: name, first name, date of birth, postal address, e-mail address, mobile telephone number, description of the project, photograph or scan of a valid identity document and/or a residence permit if applicable;

• Via the bank aggregation service provided by Powerens: bank account statements.

 

2. Eligibility conditions

 

• Projects whose object or purpose is illegal are not admitted to the platform.

• Projects are also systematically refused.ets whose holders do not meet the following conditions:

  • be at least eighteen years old on the date of application for registration;

  • be domiciled in mainland France;

  • be the holder of an active bank account opened with a credit institution approved in France by the Prudential Control and Resolution Authority (ACPR);

  • have a monthly income greater than the RSA;

  • have a valid identity document for citizens of states that are part of the Schengen area;

  • have a valid residence permit for citizens of states not part of the Schengen area;

  • have a valid Visa or Mastercard bank card issued by a credit institution approved in France by the Prudential Control and Resolution Authority (ACPR);

  • have a French mobile phone number.

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• Projects presented while another loan granted to the holder via the Over-finance platform is in the process of being repaid are also not admitted.

The reasons for ineligibility are therefore non-compliance with one or more of the conditions listed above.

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3. Analysis and selection conditions

Over-finance has implemented the following criteria for analysis and selection of projects and project leaders:

Risk of fraud and B-FT:

Over-finance assesses the risk that the project leader is involved in fraud and/or money laundering and/or terrorist financing activities;

Solvency:

Over-finance assesses the solvency of the project leader based on a credit risk scoring model that it has developed. The analysis is based in particular on:

• the amount of monthly income identified in the bank account;

• the level of debt: outstanding credits identified on the bank account;

• the amount of major fixed charges identified on the bank account: rent, recurring bills (water, gas, electricity), etc.

The reasons for non-selection of projects and project leaders are therefore (i) solvency assessed as insufficient by Over-finance, and/or (ii) a risk of fraud and B-FT identified by Over-finance.