Contents
- 1. Crowdfunding service providers which provide crowdfunding…
- 2. For the purposes of paragraph 1, point (a), the following…
- 3. For the purposes of paragraph 1, point (b), where the cred…
- 4. Crowdfunding service providers shall disclose the material…
- 5. Crowdfunding service providers shall inform investors in c…
1.Crowdfunding service providers which provide crowdfunding services consisting of the facilitation of granting of loans shall consider a default to have occurred with regard to a particular loan offered on their crowdfunding platform when either or both of the following events have taken place:
(a)the crowdfunding service provider considers that the project owner is unlikely to pay in full, or otherwise fulfil its credit obligations related to the loan concerned, without recourse to actions, such as realising security;
(b)the project owner is more than 90 days past due on any material credit obligation related to the loan concerned.
Source: EUR-Lex, © European Union, 1998-2026. Reuse authorised under Decision 2011/833/EU.