Creating a loan is simple!
All you have to do is invite a friend, family member, or loved one to Pigeon Loans. After you've created an account on our platform, feel free to send your counterpart a loan offer from your Profile dashboard. Once your loan partner has accepted your invite, you will be on your way to starting your loan.
First, you will enter into negotiations with the other individual you are creating a loan with and agree upon:
- The duration of your loan term.
- A loan amount denoting your Principal.
- An interest rate.
Second, both parties will activate their accounts. Account activation allows our platform to move funds, deposit money, and facilitate your loan payments.
After these two simple steps, all you and your loan counterpart have to do is sign your uniquely generated contract to activate your loan, and start your loan journey.