Great idea, bad app
The idea of people helping and loaning money to others is fantastic but the app has so many headaches. First off, when you request for a loan for the first time it takes to you a prompt to gather information from you, understandable. Then, it takes you back to the home screen where you then have to, again, request for a loan where, again, it prompts you to give more information. Wait there’s more! Just when you thought it was finally safe to post a loan request, the app then wants more information from you. Why not just do all of this in one setting? Why have to do this every time you go to request a loan for your initial loan?? Now I don’t the next part that I’m about to say hasn’t happened to everyone but it has happened to me; the app requires you add your debit card, again, understandable but it keeps asking me to add my card. Eventually I entered my card in so many times that it won’t allow me to anymore, even though it keeps asking me add my card. The concept has so much potential but this app is garbage.
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Horrible
Don’t use this app at all. I lent out 4 loans to people with high scores and only have gotten one payment back. This company has no way of guaranteeing the lender, and there is no interest on the loans just “tips”. So the borrower isn’t actually required to pay back the so called 10 percent tip if they don’t want to. So basically the lender loans out money with a tip thinking there gonna make a little profit, but may just get back what they loaned out of the borrower pays. There communication is horrible because they only work through email and reply back to you in like two weeks, and sometimes not at all. They have this retarded donation crap that the borrower can choose to donate to the company. So basically the lender loans money to both the borrower and the company. The company makes out beautiful but the lender takes all the risk. And they try to promote it like we’re helping out each other. That’s a bunch of crap. They only give you the option to send an unpaid loan to collections, but seriously how many people actually pay back a couple hundred dollars in collections. If you’re new to lending money go to another peer to peer platform that gives more professionalism and protection to the lender if the borrower doesn’t pay back.. take my advice and don’t waste your money and lose it to this horrible company that needs to be closed. After all it’s always about making money.
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Good once you get going
Once you get pass the headache of signing up everything else works pretty good. These opinions are coming from the view of someone who only invests money and not take loans.
The good: I have funded about $1100 since October 1st and have already earned money back. The app has never crashed on me and it is simple to use. Loans can be very short (max 30 days) so you can get your money back + tips fast! Possibility to earn 10% on every loan. When you get paid back, it is deposited to your bank account asap. Loans amounts aren't large
The bad: I had headaches trying to get my SSN input to work. It continuously told me it was not accepted. I emailed them for help because i exceeded my ssn submitting attempts. They weren't much help. 2 days of trying and it worked magically. Their help team isnt very good either. To start, they reply to your question from an email that you can not reply to. So if you have a follow up question, you have to start an entirely new email. I seem to have email them too many times because they have completely stopped responding to any emails i have sent.
Suggestions: being able to sort by # of previous transactions. Using an email that users can respond to for follow up questions.
The good outweigh the bad in my opinion. Just have to get through the headaches first. Then its all sunshine and rainbows. These opinions are just from my experience. Not everyone will have the same problems i have had.
The good: I have funded about $1100 since October 1st and have already earned money back. The app has never crashed on me and it is simple to use. Loans can be very short (max 30 days) so you can get your money back + tips fast! Possibility to earn 10% on every loan. When you get paid back, it is deposited to your bank account asap. Loans amounts aren't large
The bad: I had headaches trying to get my SSN input to work. It continuously told me it was not accepted. I emailed them for help because i exceeded my ssn submitting attempts. They weren't much help. 2 days of trying and it worked magically. Their help team isnt very good either. To start, they reply to your question from an email that you can not reply to. So if you have a follow up question, you have to start an entirely new email. I seem to have email them too many times because they have completely stopped responding to any emails i have sent.
Suggestions: being able to sort by # of previous transactions. Using an email that users can respond to for follow up questions.
The good outweigh the bad in my opinion. Just have to get through the headaches first. Then its all sunshine and rainbows. These opinions are just from my experience. Not everyone will have the same problems i have had.
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