Adjustments to automated lending

Discussion in 'Announcements' started by Julia Kurnia, May 17, 2014.

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  1. Julia Kurnia

    Julia Kurnia Director, Zidisha Zidisha Staff

    We've implemented an enhancement long requested by users of our automated lending tool: In order to ensure broad distribution of lending funds, no more than $10 will be automatically lent toward a single loan application from each lender's account.

    In addition, we introduced a limitation that no more than 50% of any single loan application may be funded by automated bids. In other words, each loan must be able to raise at least 50% of its value in manual bids in order to be funded. This is intended to protect users of the automated lending tool by ensuring that all of the applications they fund have sufficient quality to pass human reviews by manual lenders.

    We hope these measures will help encourage lenders who are too busy to continuously relend their available credit manually to give the automated lending tool a try. Automated lending puts your available credit to work by relending each day the repayments that have been credited to your account, according to the interest range and prioritization preferences you specify.

    Lenders may activate automated lending using the "Automated Lending" page of your accounts.
     
    jmbogo, Jeremi, Hedwich and 3 others like this.
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