LENDER FAQ

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Loan Chain Advantages

• Choose an interest rate between 2.5%-22.75% on your investment

• Choose your risk category
– High Risk – 17%-22.75% return on your money
– Medium Risk – 7%-16.75% return on your money
– Low Risk – 2.5%-6.75% return on your money

• Decide on what contract to accept depending on risk factor

• Guaranteed to get your principal sum back

How do I keep up to date with the repayments?

We will keep you updated with monthly reports on the repayments from your borrower. We will also alert you to any late payments or if the loan is deemed to be in arrears or default.

When is a loan deemed to be in default?

If a borrower misses a payment date, they have 3 working days to make the payment without incurring any charges or fees. If they fail to make the payment after 3 working days they will incur additional fees and late payment charges which will be partly passed on to you as the Lender. We will them contact them on your behalf and ask them to explain the reasons for the late payment, as well as enquiring about any change in their personal circumstances which may affect their future repayments. We will then make a detailed report on your behalf and send it to you for your review.

What happens if the borrower fails to make any more repayments or goes bankrupt?

Loan-Chain is responsible for ensuring that you receive back the full amount of the principle that has yet to be repaid. We will then be responsible for recovering the full amount inclusive of any charges incurred from the borrower.

What happens in the event of a borrower’s death?

Loan-Chain is responsible for ensuring that you receive back the full amount of the principle that has yet to be repaid. However, Loan-Chain will not be liable for any of the interest that was agreed upon.

Can I change or alter the terms of the Loan Agreement at any point?

You are free to ask the borrower if they are willing to change the Terms of the Agreement, but you can only change them if the borrower agrees to it. Once they have agreed you need to send a request to us and then wait for the confirmation form to be sent to you. You will then fill in the form and send it back. You will receive confirmation of the change in the Terms of the Agreement within 24 hours.

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