The objective of this website is to make lending to friends and members of your family a smoother task. In practice, this is accomplished by creating loans in which you set down the person who is borrowing as well as the principal amount that is lent (in American dollars) You (as the one who is creating the loan) are empowered to set down its terms, and the LendFriend team takes care of creating a legally binding document for you.
The actual process in which a loan is created involves drafting its terms and the type of repayment, as well as the annual interest rate. This loan proposal can then be sent to the other party, but before doing that the system will ask you a couple of questions in order to let you ensure that you are requesting (or making) the right loan. For instance, the vital question of whether or not you want to secure the loan with collateral is asked there and then. So it he option to add a custom clause. Once you have made up your mind, the loan will be sent out. Rather, a link to the proposal will be put your family or your friends’ way.
If all is right, a promissory note is created. And the proposal is not static in the sense that the one who receives it can suggest changes. If they decide to do so, you are to receive a new and edited proposal yourself, and accepting or rejecting it will fall upon you.
LendFriend.me In Their Own Words
“At LendFriend our main goal is to enable our customers to lend and borrow among their friends and family members in a manageable way. We facilitate the loan process with an approach that puts you in control of setting loan terms while we take the responsibility for creating a legally binding document.”
Why LendFriend.me It Might Be A Killer
It is a very well-timed service – people are known to borrow more than ever when a country is recovering from financial turmoil and they want to launch their own ventures.
Some Questions About LendFriend.me
Is this service available in every State within the US? 
