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 90 days after the loan is issued. Within the app, the Borrower can settle, or pay off the loan anytime ahead of schedule.
Monthly: Multiple repayments scheduled between 3 and 36 months. Monthly repayments will initiate 30 days after the loan is issued. The Borrower can settle, or pay off a monthly loan anytime ahead of schedule.