How to choose a safe P2P lending platform: a due diligence checklist

When comparing platforms, it is common to focus mainly on the interest rate they offer.

However, potential return is only one part of the analysis.

You also need to look at who manages the platform, how it selects borrowers, what information it provides, how defaults are handled and what options exist to recover capital before maturity.

In addition, terms such as "regulated", "guaranteed" or "safe" can have very different meanings. The fact that a platform is subject to a particular regulatory framework does not mean that an investment is risk-free or that capital is guaranteed.

That is why, before investing, it is advisable to carry out a small due diligence of the platform.

In this guide we review the main aspects you should check before choosing a P2P lending platform and how Maclear addresses these points.

1. Check who is behind the platform

The first step is to clearly identify the company that operates the platform.

Before investing, check:

• Legal name of the company.
• Country of incorporation.
• Commercial register.
• Management team.
• How long the company has been in business.
• Available financial information.
• Entity responsible for the intermediation.

Transparency on this point is essential. A platform that does not provide clear information about who manages it should raise more questions before you make any deposit.

In the case of Maclear, the platform is operated by Maclear AG, a company registered in Switzerland. Maclear operates as a financial intermediary under Swiss law and is a member of PolyReg SRO, a self-regulatory organization supervised by FINMA. It is important to note that Maclear is not a bank and is not directly supervised by FINMA; supervision is carried out through the PolyReg framework.

2. Analyze the regulatory framework

Regulation does not eliminate investment risk, but knowing the legal framework in which a platform operates makes it easier to understand its obligations and supervisory mechanisms.

Proper due diligence should answer questions such as:

• In which country is the company regulated?
• Which body or entity supervises its activity?
• What requirements must it meet?
• Is there a public register where its status can be verified?
• What obligations does it have regarding identification and anti-money laundering prevention?

At Maclear, membership in PolyReg entails compliance with certain obligations arising from Swiss anti-money laundering legislation, in addition to client identification and know-your-customer processes.

The platform itself states that its membership can be verified publicly.

The distinction is important: regulation and capital guarantee are different concepts.

A platform can operate within a regulatory framework while its investments remain exposed to the risk of default.

3. Find out how it selects borrowers

This is probably one of the most important points in the entire analysis.

The investor is relying not only on the platform, but also on the processes it uses to decide who it lends the money to.

Before investing, it is advisable to know:

• What documentation the platform requests.
• How it verifies the identity of borrowers.
• What financial information it analyzes.
• Whether it assesses repayment capacity.
• How it evaluates the financed project.
• Whether it analyzes the collateral offered.
• What criteria it uses to reject transactions.

Maclear explains that every borrower must pass a due diligence process before their project can be published; the procedure includes document review, AML and background checks, specific questionnaires and financial analysis.

The information analyzed includes balance sheets, profit and loss statements, financial ratios, business plans, financial models, repayment schedules and collateral.

Projects that do not meet the risk threshold set by Maclear are rejected before reaching investors.

This does not mean that default risk disappears; it means that there is a prior selection process intended to assess the transactions.

4. Check what information you can review before investing

A platform may carry out a very thorough internal analysis, but it is also important to know what information ultimately reaches the investor.

Before investing, you should be able to know, at a minimum:

• Loan amount.
• Term.
• Interest rate.
• Purpose of the financing.
• Information about the borrower.
• Risk level or score, where available.
• Collateral, if any.
• Payment schedule.

The more relevant information is available, the greater the investor's ability to carry out their own analysis.

Transparency does not mean that you can know with certainty the future outcome of an investment. It means having enough information to understand what you are buying and what risks you are taking on.

5. Find out what happens if the borrower does not pay

One of the questions that should never be missing from a due diligence is:

What happens if the borrower defaults?

Investors should know in advance the procedure in place for managing late payments and defaults.

Depending on the platform, there may be mechanisms such as:

• Collections management.
• Collateral or personal guarantees.
• Collateral agents.
• Provision funds.
• Legal proceedings.
• Restructuring agreements.

At Maclear, certain loans are backed by collateral and the platform has a structured process for handling late payments and defaults. In addition, there is a Provision Fund intended to cover temporary delays in interest payments. The platform itself specifies that this mechanism does not guarantee the return of capital.

This last point is especially important: no protection mechanism should be interpreted as a guarantee that all of the money will be recovered.

6. Analyze liquidity

P2P lending has a feature that is often overlooked: capital may be committed for the duration of the loan.

That is why, before investing, you should check what alternatives exist if you need to get your money back before maturity.

Some platforms do not offer a secondary market. Others do.

Maclear has a Secondary Market that allows investors to buy and sell certain loan positions before the end of their term. This function can increase the chances of liquidity, but a sale depends on there being an interested buyer.

Therefore, a secondary market should not be considered equivalent to having immediate liquidity.

The right question is:

What options do I have to recover my capital before maturity, and what determines whether I can do so?

7. Review the fees

Fees can have a significant impact on the final return, especially when many transactions are carried out.

Check:

• Deposit fee.
• Withdrawal fee.
• Investment fee.
• Management fee.
• AutoInvest fee.
• Secondary Market fee.
• Other possible costs.

Maclear states that it does not charge investors fees for depositing, withdrawing funds, investing in the primary market, using AutoInvest or maintaining the account. On the Secondary Market there is a fee of 2.5% for the seller when the transaction is completed.

The comparison should always be made on the basis of total cost and not solely on the advertised interest rate.

8. Check how your rights over the investment are structured

This is a more technical aspect, but a particularly relevant one.

Lending money directly to the platform is not the same as acquiring a claim against the borrower.

At Maclear, the published structure establishes that, when an investor participates in a project, they acquire ownership of the corresponding claim against the borrower through a Loan Purchase and Assignment Agreement. Maclear acts as collection agent and security agent.

According to the information published by the platform, uninvested funds are held in segregated escrow accounts managed by partner banks during the fundraising period, rather than being held in Maclear's operating accounts.

Understanding this structure helps to clarify what happens to the investor's rights in different scenarios.

What happens if the platform ceases to operate?

This question is part of proper due diligence and usually receives less attention than it deserves.

Two risks must be distinguished:

Borrower risk: the borrower does not repay the money.

Platform risk: the platform itself ceases to operate.

In Maclear's case, the published information establishes that the loan claims belong to the investors and that Maclear acts as an agent. According to its legal structure, the closure of the platform does not automatically entail the disappearance of the claims against the borrowers.

This does not mean that the capital is guaranteed. If a borrower defaults and the recovery mechanisms do not allow the full amount to be recovered, the investor may suffer a partial or total loss.

Checklist before investing in a P2P platform

Before making a deposit, you can use this list:

Platform closure

What happens to investments if it ceases operations

The more of these points you can answer with verifiable information, the better prepared you will be to evaluate a platform.

Is choosing a "safe" platform enough?

No.

Even after selecting a platform that meets reasonable criteria for transparency, regulation and risk management, you still need to analyze each specific investment.

A good platform does not automatically turn every loan into a good investment.

Investors must also assess diversification, the term, the borrower, the loan conditions and the weight that investment will have within their portfolio.

The platform can provide selection tools and processes, but the final investment decision still rests with the investor.

Conclusion

Choosing a P2P lending platform requires much more than comparing interest rates.

Proper due diligence should examine who is behind the platform, its regulatory framework, how it selects borrowers, what information it provides, how it handles defaults, what liquidity options exist, what its fees are and what legal structure the investments have.

In the case of Maclear, the platform combines a multi-level due diligence process on borrowers with mechanisms and tools such as diversification across loans, AutoInvest, the Provision Fund and the Secondary Market.

These mechanisms can make managing the investment easier, but they do not eliminate the risk of capital loss.

The best platform is not necessarily the one advertising the highest interest rate, but the one whose structure, processes, information and risks you can understand before investing.

And, above all, remember that a platform can be transparent and subject to a regulatory framework without the investments being guaranteed.

The content of this article is provided for informational and educational purposes only. It does not constitute investment, financial, tax, or legal advice. Peer-to-peer (P2P) lending and crowdlending investments carry a risk of partial or total loss of capital. Past performance does not predict future results. Liquidity on a secondary market is not guaranteed. Readers are encouraged to conduct their own research and consult qualified advisors before making any financial decisions. The availability of products and services may be restricted in certain jurisdictions.