Welcome to Harmoney's
Harmoney is a Peer-to-Peer Lending Marketplace; an online platform where everyday people lend money to (and borrow money from) other everyday people. Below is what is in our Marketplace right now. (Note: if there are no loans in the Marketplace, this section will be hidden).
Where Borrowers list their loan and Lenders lend their money.
Where Borrowers list their loan.
Where Lenders lend their money.
How does Harmoney work?
People who wish to borrow money do so by applying to list their loan in the Marketplace. Harmoney's role is to assess the application. Once approved, loans are split into $25 chunks (called 'notes') - so a $10,000 loan becomes 400 notes. This way, each loan is funded by lots of different people.
People who wish to lend money choose which loans they want to 'invest' in from the Marketplace, and how many 'notes' they wish to invest. Harmoney's role is to administer these transactions.
Once a loan is fully funded, the Borrower gets the money and begins making monthly principal and interest repayments. Harmoney's role is to collect these repayments and distribute them back out to the Lenders.