LendLedger

Get Started (Beta)

LendLedger is an open, decentralized network connecting Lenders with Data Providers and Borrowers. It expands access to credit and makes lending more efficient.

LendLedger is working with partners and prospective users to source data and connect lenders in India, Indonesia, Kenya, Myanmar, Nigeria, the Philippines, Singapore, the US, and Vietnam. Contact LendLedger to learn more or to kickstart a partnership in a different market.

Get Started

Start lending

Use this guide to get started as a Lender on the network, and originate more loans from untapped Borrower segments.

LendLedger is working with partners and prospective users to source data and connect Lenders in India, Indonesia, Kenya, Myanmar, Nigeria, the Philippines, Singapore, the US, and Vietnam. Contact us to learn more or to kickstart a partnership in a different market.

Are you a Lender with the regulatory clearance to make business, consumer or p2p loans in your market? Do you wish to lend more than what your current origination channels achieve, including to segments who may not be formally registered or found in a credit bureau? If yes, then you're what's known as a Lender - Lender - Lenders originate loans using credit data made available by Data Providers. Lenders sign loan contracts with Borrowers and disburse loans to them. in the LendLedger network.

Read on to get started.

1. Explore data markets

After getting access (initially, by contacting LendLedger directly), you will be able to view data offered by Data Providers - Data Providers - Data Providers provide credit data they accumulate on households and businesses to Lenders and Borrowers. . Lenders - Lenders - Lenders originate loans using credit data made available by Data Providers. Lenders sign loan contracts with Borrowers and disburse loans to them can see what types of data are available, the quantity offered, the cost, and the standard formats used. To evaluate whether a Data Provider is likely to yield predictive data, analyze the Data Provider's activity on the blockchain - by integrating the LendLedger APIs into your software - or by using LendLedger's L-Cloud. You can use standard or customized metrics to determine what type of data and Data Provider you wish to connect to.

Lender view of indicative data provider offerings

Lender view of indicative data provider offerings

2. Define goals

A Lender typically seeks three distinct benefits from joining LendLedger.

  • originate loans to untapped market segments
  • improve operating margins by eliminating intermediaries such as lending platforms
  • improve overall portfolio quality through access to verified borrower data

Identifying and prioritizing your goals will help you make key decisions about which data sources to tap through the LendLedger network, how much capital and staff time to invest in the project, and what kind of compensation you are willing to pay Data Providers and Service Providers.

3. Make key decisions

You will need to make a few basic decisions before you start lending.

1. What type of loan products will you offer?
Since early 2017, LendLedger's data APIs and the L-Cloud software have powered over $15 million in automatic, digital, short-term loans to small business borrowers. The LendLedger Protocol has not yet been augmented to enable large, collateralized loans, joint-liability group loans, or loans against property, for example. However, the LendLedger team and broader community are beginning to work on adapting the protocol for these product types.

2. How will you collect loan repayments?
This will help determine whether you want to engage a Loan Servicer - Loan Servicer - Loan Servicers collect loan repayments from Borrowers on behalf of Lenders. as part of your lending operation, or even whether you wish the Data Provider that shares data to collect repayments on your behalf. For instance, payment networks can not only provide data on Borrower - Borrower - Borrowers acquire their personal or business credit data from Data Providers. Identify loan offers from Lenders and apply for and receive loans. sales and credits, but can also often deduct repayments from incoming funds transfers and share those with lenders.

3. What method will you use to make credit decisions?
If a Lender wishes, it can use the services of an external Credit Evaluator - Credit Evaluator - Credit Evaluators provide loan decision recommendations based on loan applications shared by Lenders. in addition to its own decision framework. LendLedger's L-Cloud software allows for criteria to be defined by Lender staff, or for decisions to be advised by in-built, machine-learning algorithms or external models. This enables Lenders to take full advantage of the LendLedger Data Exchange APIs, which provide for a loan approval to be instantly communicated to a Borrower (or to a Data Provider so it can share that with the Borrower).

4. Register as a Lender

The L-Cloud software is the easiest way to begin lending through the LendLedger network. An alternative is to integrate the LendLedger APIs into your existing systems, although this is probably best done after you've had some experience with the network. Click here to go to the Developers section and understand what's involved.

Finally, in some markets, Lenders can identify third-parties (such as some fintech startups) who have begun connecting to LendLedger, and can provide a channel through which a Lender can gain exposure and test out the Network, without connecting directly. Contact the LendLedger team to identify known third-parties like these.

WHAT NEXT?

Contact us to join LendLedger as a Lender.