Payback periods

Types of payback periods, onetime, monthly, and payoff

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Written by Airion
Updated over a week ago

Accepting a Loan Request or Loan Offer means ALL loan terms have been agreed to - including the Payback Period. The Payback Period is the schedule of repayments between the Borrower and Lender.

When creating your loan, you can choose one of two types of payback periods:

  • One-time: One payment to settle the entire loan. The earliest repayment date that can be scheduled must be 60 days after the loan is issued.

  • Monthly: Multiple repayments scheduled between 2 and 36 months. Monthly repayments will initiate 30 days after the loan is issued.

In the app, the Borrower has the flexibility to repay the loan ahead of schedule at their convenience.

App store policies from Apple and Google prevent us from requiring borrowers to completely pay back a loan within 60 days.

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