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 by clicking the Create A New Loan button.
Once your loan partner has accepted your invite, you'll need to create terms for your loan and determine:
- The duration of your loan term.
- A loan amount denoting your Principal.
- An interest rate.
After that, you'll be given the option to activate your account with us. Account activation allows our platform to move funds, deposit money, and facilitate loan payments on your behalf, but it's a totally optional step, in case you just want to use us as more of a tracking mechanism!
Once everything is good to go, you'll activate your loan, and start your loan journey.