Pigeon Loans is free for Lenders.
When a loan is signed and activated, we charge Borrowers a small flat fee of $4.29 for every month that your account has at least 1 active loan. You can make as many loans as you want on our platform for no additional cost at all!
For full details on fees on our platform, visit our Pricing page.
Quirks to Note:
- We recommend you make payments directly with your bank (ACH, SEPA, etc.) account as we do not charge any additional fees when using these services.
- Like most payment processing platforms, we will add a small 3% fee to any debit or credit card transaction made on our website.
- If you want to create a macro loan agreement, any loan larger than $3,000.00 USD, we may add a 1% fee, called the Pigeon Fee to each payment made on our platform. This fee is often paid for by the Borrower of any given loan and is paid out to Pigeon Loans to cover our payout expenses.
Note this fee does not apply to Freebird Payments.