All Frequently Asked Questions

Back to Home

General Questions

How does Knownlenders ensure that loan agreements between friends and family are fair and transparent?

Why should I use Knownlenders instead of informal agreements?

Is Knownlenders only for friends and family, or can it be used for other types of loans?

How does Knownlenders help improve my credit score?

What types of loans can be managed through Knownlenders?

How does Knownlenders ensure the security and privacy of my data?

How do I initiate a loan on Knownlenders?

Can I manage multiple loans at the same time?

What happens if I miss a payment?

Is there a mobile app for Knownlenders?

How do I invite friends or family members to use Knownlenders?

How does Knownlenders report my loan to credit agencies?

Will my credit score be affected immediately after the loan is reported?

Is there a cost to use Knownlenders?

Are there any hidden fees?

Is Knownlenders compliant with state and federal lending laws?

Are the contracts created on Knownlenders legally binding?

What kind of customer support does Knownlenders offer?

Are there any resources or tools to help me understand lending better?

What new features can we expect from Knownlenders in the future?