tag:blogger.com,1999:blog-190494922011-12-03T06:47:55.566-08:00A place to discuss personal lending and the LoanBack product.hillfergusonhttp://www.blogger.com/profile/02305097945065354903noreply@blogger.comBlogger81100tag:blogger.com,1999:blog-19049492.post-1150928791400358662006-06-21T15:26:00.000-07:002007-04-14T16:12:22.180-07:00

We recently launched 2 new features that we hope makes your personal lending experience easier and more successful. The first feature, payment reminders, allows LoanBuilder users to opt in to receiving an email reminder to either make a loan payment (if you're a borrower) or collect a payment (if you're a lender). If you've already setup a loan using LoanBuilder, you can turn on reminders by

hillfergusonhttp://www.blogger.com/profile/02305097945065354903noreply@blogger.com7tag:blogger.com,1999:blog-19049492.post-1145809228964495942006-04-23T09:06:00.000-07:002007-02-19T16:32:20.263-08:00

That's right, you can now use LoanBuilder to create interest-only loans! Since we launched, we've had several folks write in to us asking for this option and it's not that surprising given the growing popularity of interest-only loans in the mortgage world.Here's how to create an interest-only loan:1) Get started using our LoanBuilder and click the "Build my loan" button.2) On the Loan

hillfergusonhttp://www.blogger.com/profile/02305097945065354903noreply@blogger.com0tag:blogger.com,1999:blog-19049492.post-1143745810894368472006-03-30T11:03:00.000-08:002007-03-20T08:22:47.296-07:00

We just launched a smattering of new promissory note forms on our site. These blank forms--you have to fill in the blanks--are good for people who know exactly what kind of note they are looking for and also understand how to create loan amortization tables and other financial calculations. We currently offer 8 different note forms. For those of you who don't know exactly what you're looking

hillfergusonhttp://www.blogger.com/profile/02305097945065354903noreply@blogger.com2tag:blogger.com,1999:blog-19049492.post-1142015281724141832006-03-10T10:27:00.000-08:002007-04-06T00:23:24.990-07:00

One of the more pressing questions people have when considering making a loan to someone they know is whether or not to charge interest, and if so how much. First I'll share some personal opinions on this topic and then share with you some cold, hard data on what real LoanBack users are actually doing.I think charging interest on personal loans is a good idea for several reasons:1) Lenders

hillfergusonhttp://www.blogger.com/profile/02305097945065354903noreply@blogger.com3tag:blogger.com,1999:blog-19049492.post-1139186723351550902006-02-05T16:44:00.000-08:002006-10-12T13:43:47.513-07:00

There are lots of reasons people borrow and lend money to friends and family. Here are the top reasons for personal loans made on LoanBack:To pay off other loansWorking capital for existing businessReal estate purchaseCar purchaseStartup captial for new businessDownpayment on a houseEducation expensesThe average loan amount that we see is $26,972 with an average interest rate of about 5%.

hillfergusonhttp://www.blogger.com/profile/02305097945065354903noreply@blogger.com0tag:blogger.com,1999:blog-19049492.post-1139076030643096302006-02-04T09:58:00.000-08:002007-04-11T07:35:30.130-07:00

We just launched the new features I described below. We are now charging a small fee help cover our expenses. Please let us know if you have any feedback or suggestions by either commenting on this post or using our feedback form.Thanks!Hill

hillfergusonhttp://www.blogger.com/profile/02305097945065354903noreply@blogger.com2tag:blogger.com,1999:blog-19049492.post-1134764392472354762005-12-16T11:51:00.000-08:002007-01-30T16:55:24.286-08:00

Well, we've been live for a few weeks now and the response has been great so far. Thanks to all of you who send us feedback -- we really appreciate it. I wanted to let you know what we're working on in the way of new features.In the next few weeks, LoanBack will let you...1) Secure your Notes with collateral. Many of you are borrowing and lending money to buy new or used cars. An auto loan is a

hillfergusonhttp://www.blogger.com/profile/02305097945065354903noreply@blogger.com2tag:blogger.com,1999:blog-19049492.post-1132198168556394092005-11-16T19:26:00.000-08:002007-04-11T03:08:01.660-07:00

I created this blog to provide a forum for all of you interested in discussing personal lending and our product. I invite you all to share any personal experiences you've had with lending or borrowing money from someone you know in hopes that you may help others and provide us with valuable feedback that will go into improving our product.Hill

hillfergusonhttp://www.blogger.com/profile/02305097945065354903noreply@blogger.com2