Exilend is a newly launched social lending network which brings people who need money and people who have money together and enables a loan between them. Exilend users enjoy the control of choosing their lenders and borrowers, and mutually decide the loan terms. The core of Exilend platform is in management of your transactions. It provides easy to use interface for adding existing friends as well as inviting new users to the platform.
It is a true social lending platform, as unlike some other platforms, it does not recommend lenders and borrowers for loans or try to make a match depending on loan requirements, neither it limits the interaction of users in any way. The users enjoy the control of choosing their lenders and borrowers, and mutually decide the loan terms. Exilend supports a large variety of loans, and almost covers everything that will ever be needed in a P2P lending service. Users have options to create amortized loans and balloon loans, with varying types of compounding, repayment schedule, loan terms etc. It gives you quick preview of payments at the time of loan creation, so you know exactly how much is paid at what time even before the loan is created.
Pool loans is another great feature that this platform provides. A group of lenders can join to loan funds to interested borrowers, with interest profit shared in their contribution ratio.
In addition to above, it allows you to choose whether loan prepayment should be allowed or not. From the action items available against loans and payments, you can easily mark them as closed, defaulted, prepaid etc. All that is needed for any action in a loan is to have confirmations from both parties. Since Exilend works on Mutual trust, anything that both parties agree on can be done here.
Exilend is free to use. No commission is charged on transactions made by the users on Exilend and there is no joining fee. Exilend stays out of anything that is not management. It simply send you reminders/reports and assist you with calculations and schedules, while user takes care of actually making the payments and letting the system know with few simple clicks.In all, Exilend is a free P2P lending solution available with all these amazing options. It supports easy and quick loans for everyone.
Check us out at www.exilend.com