3. How does the lending process work?

When a lender is successfully registered, his listing page appears on the lender listing page. Lenders can then browse borrower listings and make offers on borrower loans, depending on their lending criteria. Lenders can decide the lending amount and interest rate at which they would like to lend to the borrowers.

Similarly, borrowers can browse lender listing page and send requests for loan which can be seen on your listing page. You can either accept, modify or reject these requests. This information can be viewed by the lenders in thier listing page.

Lenders can make offers only when the borrower listing is active, i.e. when the borrower has been approved successfully until he has accepted his loan. Once a borrower accepts the loan amount during his active listing period, the listing is closed for further offers. i-lend then collects all necessary documents, executes the required agreements, collects cheques from lenders and deposit in the borrower accounts.