Frenloan is a Mobile App created to Certify a loan to both lender and borrower. Frenloan will generate a loan understanding via Loan PDF once both parties agree.
New users need to register via email, Facebook, Twitter or Linkedin.
Once registered, agree on the Terms & Conditions. You can access the Ask For Loan page.
Click Ask for Loan and type in your friend’s email or Mobile phone no.
Your request will be sent. Your needs to approve the loan and a Loan PDF will be generated. Only borrower can generate the Loan PDF.
To make the loan agreement legally binding, print out the Loan PDF and get both lender and borrower to sign on it. Sign on Loan PDF only when money is transfered from Lender.
Getting a loan request from an email can be suspicious. It’s best you make a call and tell your friend that it’s you who made the request. And explain the request comes with a Loan Certification and using Frenloan will certify the loan.
On Frenloan, an automatic tracking feature will alert your friend that it’s time to pay up. You can also manually send him payment request.
At present, Frenloan is a free app. There may be changes to this in the future.
You can remind him that you have a PDF Loan understanding between the both of you. It’s h6.questioner if you have a printed Loan PDF and with signatures of Lender and Borrower. That could be used as evidence the loan took place.
It’s not impossible but the lender will need to also access your email to receive the approved loan request. It’s in your friend’s onus to prove he gave you the money if you did not request a loan from either your email or other sign in options like Facebook etc.
Unfortunately Frenloan does not get into any dispute between parties. As this is a computer generated service.
Absolutely not. This may be against regulations in some countries. There is no Add Interest feature on Frenloan. Frenloan is created to help out people we know who may be in need of financial help.
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