Loanwoan.com is an loan marketplace connecting entrepreneurs with lenders i.e. we connect borrowers with financial institutions based on the details and data submitted through safe, transparent and effective manner.
After registration and submission of loan application form, the borrower is required to upload the documents on the platform. Our proprietary algorithm generates queries based on the data submitted by the borrower. Upon answering the questions, a credit appraisal note with credit score generated. Based on the credit score and financial institutions’ criteria the note is submitted to recommended financial institutions. Subsequently, the borrower is connected to financial institutions for further processing and sanction of the loan.
We charge Rs. 2500 which is refunded upon disbursement of the proposal. This deposit is taken for bank account verification and to ensure genuine customers. This deposit would not be refunded in case the borrower declines to take disbursement post loan sanction.
In case the borrower decides to apply to PSUs / Private Banks through our platform, then a success fee of 1% of loan amount + Taxes would be applicable on loan sanction.
For us, data security is most important. The connection to website is encrypted and authenticated using a strong protocol (TLS 1.2), a strong key exchange (ECDHE_RSA with P-256), and a strong cipher (AES_128_GCM). Our website is DSCI Privacy and Security Framework Compliant.