Billions of dollars are transacted in personal loans between family and friends in the United States each year. Filled with goodwill, it is in our nature to help others when they are in a bind and need emergency funds to pay bills like utilities and rent, auto repair costs or medical bills. In some cases we loan money to our loved ones for life events such as buying a new home, new car or wedding expenses. Those with the ability also consider loaning to friends and family who are starting a business.
Unfortunately, despite the best of intentions, sometimes loans go sour. Loans are not paid back on time, in full or even not at all. This leads to arguments, hurt feelings and even the loss of a trusted relationship.
We believe that this is a solvable problem if people simply have the tools that make it easier to responsibly ask for, agree to terms and pay back a loan. If the borrower has a systematic way to track and repay their loan, both borrower and lender benefit. The lender’s trust is kept intact with the borrower and the borrower is able to accomplish what they needed in the first place.
LendAmi exists to help people help others that they know and love. By using LendAmi’s platform to transact personal loans between family and friends in a manner that meets both state and Federal regulations, we can help drive good outcomes for both borrower and lender in a safe, secure and responsible manner.
Borrow money faster by avoiding the bureaucracy, paperwork and judgment of those you don’t know.
Borrow on terms that both sides agree on and provide confidence to the lender by settling on a payment schedule and automatic bank transfers.
Family members can help the first time home buyer and maintain non-gift tax and non-income status through a low-interest personal loan.
The LendAmi platform makes it easy for borrowers and lenders to transact loans, responsibly.
Parents can teach young adults responsibility and good financial habits.