LOAN APPLICATION PROCESS

​

To be eligible to be granted a Cryptocurrency Loan:

​

You must be a Registered UK Limited Company

You must be a Qi Coin® holder and be holding at least Qi 275 (£99) and must be prepared to demonstrate that by providing the address that is holding it.

Director's personal guarantee are required.

A floating charge is required over the Company's assets which will be duly registered at Companies House.

You must pay an administration/application fee of £75 on application. Note that if for any reason we do not approve the loan this fee will be expediently fully refunded.

You must comply with all KYC (Know Your Client), AML (Anti Money Laundering) and CFT (Counter Terrorism Financing), regulations. This can normally be done electronically.

We will approve loans for newly incorporated companies and SPVs (Special Purpose Vehicles).

The Director must be a homeowner for loans above Qi 96,000 (£34,560) - Qi 275,000 (£99,000). The loan is still unsecured

For loans greater than Qi 275,000 (£99,000) we will require security or collateral. This can be in the form of freehold or leasehold property within the United Kingdom. It could also be in the form of listed company shares or some other asset. For further information and to discuss your requirements with us, feel free to email us at mail@upcplc.com

 

The whole process is paperless and executed with electronic signatures. We aim to complete each loan within 72 hours (3 business days).

​

TYPES OF LOAN

​

You can apply for an Interest Only Loan or a Principal and Interest Repayment Loan. 

 

Interest Only Loans: Once you have reached the end of the loan term you will still owe the original amount you borrowed.. At the end of the term, we will offer you the option of extending or refinancing the loan at an interest rate to be determined at the time. If you do nothing when we contact you and the principal amount borrowed remains unpaid after a period of three months has passed, the Qi Coin® will revert back to the public pool, which means that your selected currency will also be placed back within the public domain. Bearing this in mind, it is imperative that you contact us quickly, to inform us of how you would like to proceed. Once the loan is fully repaid, we will provide you with the private key to the Cryptocurrency wallet which the funds are held in or if you wish directly deposit your chosen Cryptocurrency to a digital wallet of your choice. You will then be able to do what you wish with your Cryptocurrency.

​

Principal and Interest Repayment Loans: Once the term of these loans have ended and all payments have been met then the loan is completely repaid. At this point we will provide you with the private key to the Cryptocurrency wallet which the funds are held in or if you wish, directly deposit the currency to a digital wallet of your choice. You will then be able to do as you wish with your Cryptocurrency

​

APPROVAL OF LOANS

​

Once a loan application has been approved, we will email you the loan documents for signature. The loan documents will be drawn up detailing how much is being lent in Qi Coins, your chosen cryptocurrency, along with the sterling equivalent shown in GBP (Pounds Sterling). You will also have to follow the procedure we provide you with in order to comply with the KYC, AML and CFT regulations.

​

When the loan documents are signed and the KYC, AML and CFT regulations satisfied we will then complete the loan and deploy the funds to a wallet which will be allocated to the Company. We will provide you with the Wallet's public address so that you can confirm that the wallet is holding the funds and of course you will be able to check at any time throughout the loan term that the funds still remain in the wallet. Once the loan and any interest is repaid in full, we will provide you with the wallet's private key so that you can then move the funds, or we can deposit the currency to a wallet of your choice.

 

FEES

 

Application/Administration fees of Qi 208.33 (£75.00). (Fully refunded if we do not approve the loan) 

Early redemption fees: Qi 250 (£90.00) - Qi 41,667 (£15,000) depending on the loan size. These redemption fees will become payable regardless of the length of the remaining loan term, so you should think very carefully as to if and when you would like to redeem the loan early. Here is a breakdown of the redemption fee payable in relation to the loan size.

​

Loan size: Qi 3,000 (£1,080) - Qi 12,500 (£4,500) = Fee of Qi 250 (£75.00)

Loan size: Qi 12,501 (£4,500) - Qi 99,000 (£35,640) = Fee of Qi 1,041 (£375)

Loan size: Qi 99,001 (£35,640) - Qi 250,000 (£90,000) = Fee of Qi 8,250 (2,970)

Loan size: Qi 250,001 (£90,000) - Qi 500,000 (£180,000) = Fee of Qi 20,833 (£7,500)

Loan size: Qi 500,000 (£180,000) - Qi 900,000 (£324,000) = Fee of Qi 41.667 (£15,000)

​

​

We expect the whole process from start to finish should take no more than 3 business days.

​

DETAILS OF LOAN

​

The current interest rate which we will apply is 3.6% per annum. This rate is fixed throughout the term of any loan taken but is subject to change.

​

Minimum Loan is Qi 3,000 - (£1,080) sterling equivalent

Maximum Loan is Qi 900,000 - (£324,000) sterling equivalent

We can agree loans of up to Qi 9,000,000 - (£3,240,000) to certain institutional holders and Professional or High Net Worth Individuals. Please contact us if you require further information.

​

Term of 12, 24 and 36 months are available.

​

MULTIPLE LOANS

 

We can approve a maximum of three loans per company. The decision to approve an additional loan will be based on the payment record of your existing loan(s) with us. A minimum of 3 punctual payments and no missed payments must be made for any consideration to be made.

​

ADDITIONAL SECURITY/COLLATERAL

 

For loans greater than Qi 275,000 (£99,000) we will require additional security or collateral. This can be in the form of freehold or leasehold property within the United Kingdom. It could also be in the form of listed company shares or some other asset. For further information and to discuss your requirements with us, feel free to email us at mail@upcplc.com.

​​​​

Note that on Financial and Crypto Exchanges the price quoted may differ from our issue price as this is a reflection of pre issue speculation and activity. CLICK HERE to view Qi Coin's current status on a Trading Exchange.

​

If you are exchanging from a currency other than GBP (British Pounds Sterling) then you will be subject to any exchange rate fluctuations at the time of the exchange.

​​