Frequently Asked Questions
Find answers to common questions about our loan matching platform.
General Questions
GetFunded-Open is a peer-to-peer lending platform that connects borrowers seeking loans with individual and institutional lenders. We use advanced technology to match borrowers with the most suitable lenders based on their financial profile and loan requirements.
- Application: Submit your loan request with basic information
- Verification: We verify your identity and financial information
- Matching: Our algorithm matches you with suitable lenders
- Review: Lenders review your application and make offers
- Selection: Choose the best offer and finalize your loan
- Funding: Receive funds directly to your bank account
No, we are not a lender. We are a technology platform that facilitates connections between borrowers and lenders. The actual loan agreements are between borrowers and the matched lenders on our platform.
For Borrowers
We facilitate various types of loans including:
- Personal loans ($1,000 - $100,000)
- Business loans ($5,000 - $500,000)
- Education loans ($1,000 - $150,000)
- Home improvement loans ($2,000 - $200,000)
- Debt consolidation loans ($3,000 - $100,000)
To apply for a loan, you must:
- Be at least 18 years old
- Be a U.S. citizen or permanent resident
- Have a valid Social Security number
- Have a verifiable source of income
- Have a valid bank account
- Meet minimum credit score requirements (varies by loan type)
The timeline varies by loan type and complexity:
- Initial review: 1-2 business days
- Lender matching: 2-5 business days
- Final approval: 3-7 business days
- Funding: 1-3 business days after approval
Required documents typically include:
- Government-issued photo ID
- Social Security card
- Recent pay stubs or proof of income
- Bank statements (last 3 months)
- Tax returns (for business loans)
- Proof of address (utility bill or lease)
For Lenders
To become a lender:
- Create a lender account and complete verification
- Deposit funds into your lending wallet
- Set your lending criteria and preferences
- Review loan applications that match your criteria
- Make offers to borrowers you want to fund
Returns vary based on loan risk and terms:
- Low risk loans: 3-8% annual return
- Medium risk loans: 7-15% annual return
- High risk loans: 12-25% annual return
Important: Past performance does not guarantee future results. All investments carry risk of loss.
Our risk assessment includes:
- Credit score and credit history analysis
- Income verification and debt-to-income ratio
- Employment history and stability
- Bank account activity and financial behavior
- Identity verification and fraud checks
- Machine learning risk models
Fees and Pricing
Borrower fees include:
- Origination fee: 1-8% of loan amount (varies by risk)
- Late payment fee: $25-50 per occurrence
- Returned payment fee: $25
- Prepayment penalty: None (you can pay off early without penalty)
Lender fees include:
- Service fee: 1% annually on outstanding loan balances
- Collection fee: 20% of amounts recovered on defaulted loans
- Wire transfer fee: $15 for wire transfers (ACH is free)
Security and Privacy
We use multiple security measures:
- 256-bit SSL encryption for all data transmission
- Encrypted data storage in secure data centers
- Multi-factor authentication for account access
- Regular security audits and penetration testing
- SOC 2 Type II certification
- 24/7 fraud monitoring
- Initial application: We perform a soft credit check that does not affect your credit score
- Final approval: A hard credit inquiry may be performed by the lender, which can temporarily impact your score
- Multiple applications: Applications within 14-45 days are typically counted as a single inquiry
Technical Support
Multiple ways to reach us:
- Email: support{{ request()->getHost() }} (response within 24 hours)
- Phone: +447459431631 (Mon-Fri 9AM-6PM EST)
- Live Chat: Available on our website during business hours
- Help Center: Searchable knowledge base with common solutions
Our platform works best with:
- Chrome 90+ (recommended)
- Firefox 88+
- Safari 14+
- Edge 90+
Still have questions?
Can't find the answer you're looking for? Our support team is here to help.
Contact Support Call +447459431631