How LoanMeet works ?
LoanMeet is a peer to peer lending platform that borrowers can use to raise to get a personal or business loan from lenders. The lenders earn more than market rates for these loans, and it is a win-win for everyone. The process is simple, easy to use, and quick. Most qualified borrowers would get the desired loan amount in a week.
1. Registration of Borrowers
- Enter basic details
- Enter loan details
- The borrowers will enter loan amount, purpose of loan, proposed interest rate on loan, and loan period.
- We will verify your credentials, and perform multi-step credit check.
- The LoanMeet platform will automatically reach out to the selected lenders.
- You will also have option to select few lenders.
- Before the loan is finalized, both lender and borrower will have an option to modify the loan terms.
2. Registration of Lenders
- Enter your Basic Details, and the amount you wish to lend.
3. Loan Document on Stamp Paper
- After the loan terms are finalized, we will put together a loan agreement between the borrower and lenders on a Stamp Paper, and ask all parties to sign the document.
4. LoanMeet Dashboard
- It will have two views - one for borrower, and one for lenders.
- The lenders can track their loans.
- The borrowers can check the upcoming payment dates.
- The system will send automatic reminders to borrowers about the payment date.
- After receiving each loan payment, the lender is notified.