Step 1: Click on Add Loan
You can either click on "Add Loan" or "Loans" in the navigation panel on the left. If you clicked "Loans", simply click "Add" when on Loans.
Step 2: Fill in Loan Details
When on Add Loan, first fill in the following data:
- Which of your entities (if multiple) is taking the loan
- The amount (with currency) you'd like to borrow
Step 3: Select Payment Dates
Then fill in:
- When you want to receive the borrowed amount (i.e., the "Payment Date")
- Until when you'd like to borrow the amount (i.e., the "Repayment Date")
Note: we only charge our fee from the moment you received the money. As such, if you choose a future date under "Payment Date", you will not be charged until you receive your amount.
You can additionally set the exact time you'd like to receive your funding and when to repay the amount. To simplify the date and time selection you can also press on the calendar icon to open up a datetime calendar.
Step 4: Fill in Payment Details
Next, tell us which "Payout Recipient" we should transfer the funds to and which "Payment Method" we should use for invoices and principal repayments.
At this point you can also select whether you want to repay the principal in one go or across multiple installments.
Step 5: Review
Finally, please review your details. At this point you can optionally add a "Reference" to this loan. The reference will be used when paying the principal out to the recipient account.
Once you're happy to proceed check the "Accept Terms" checkbox and click "Submit".
