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Announcing Monthly Payment Loans

Today we are excited to announce the introduction of monthly interest payment investments. Starting with our next loan release, you can invest in both deferred payment and monthly payment loans to further diversify and add monthly income yield to your portfolio.

Here's what you can expect when you invest in a monthly payment loan:

  • All payments will be collected on the first of the month and the investor interest payments will be issued within three days of payment collection. All borrower monthly payments are interest only.
  • The principal investment and remaining interest amount will be disbursed to our investors upon repayment of the loan. In the event of default, insufficient funds, or other unforeseen issues, the timeline may be extended.
  • Regular loan updates will be provided to our investors to keep you up-to-date on any missed, delayed, or successful payments. When a payment is received, the loan will reflect the payment in the investor loan dashboard.

To help identify the different loan types, on the funding page we’ve added a new column called “Payment Type” and it will show monthly or deferred; monthly refers to monthly payment loans and deferred refers to maturity date repayment. On the investor dashboard, the loan type is shown in the dropdown menu after you expand the loan information.

This is just one of many positive developments investors can expect to grow out of our first institutional investor partnership (see our blog post from September 12th in case you missed the news). We look forward to bringing you a greater supply of loans and more new features as we continue to grow the scale and scope of our lending operation.

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