How Lendr Works

/How Lendr Works
How Lendr Works2016-06-19T11:26:54+00:00

How Lendr Works

6 Stages of Loan Origination

Customer Journey (mobile or online site)

STEP 1. Register / Create your Lendr Account

  1. Customer goes to the Lendr website and clicks REGISTER/Login
  2. Creates a LENDR Account > Set up profile
  3. Enter Mobile Number > Customer receives an OTP  & Enters onscreen > System validates OTP
  4. Enter Full Name > Create and Reconfirm Password
  5. Proceeds to Loans Marketplace

STEP 2. Lendr Marketplace

  1. Customer VISITS the Lendr Loans marketplace
  2. Chooses what kind of loan he is looking for
  3. Pre-computes for the monthly amortization
  4. Chooses which bank he wants to apply to (can be more than one bank)
  5. Completes the Application Form and attaches ID and suporting docs > Agrees to all Terms & Conditions and other bank policies
  6. Electronically signs and SUBMITS for Bank processing

STEP 3. Loans Approval and Crediting

  1. Once the bank processes, proceeds to  approve the loan
  2. Customer receives a notification via SMS and push notification thru Lendr
  3. Customer goes to the Lendr site and ACCEPTS the loan (or rejects)
  4. If accepted, Bank releases the credit of the net loan proceeds*

    *Some crediting options:
    • Credit to account
    • Manager’s check
    • Pick-up thru branch
    • Etc.

  5. Customer can withdraw or claim the loan proceeds.