Asking someone for a loan

Step by step, from your request to the money arriving.

  1. You (borrower): Loan Management → Request a Loan. Enter the lender's Amaanah ID, the type of loan, amount, currency, purpose and how you want to repay. Name your guarantor and witness: one person who vouches that you will repay and witnesses the loan. Press Send.
  2. The lender is notified and sees your rating (if you have one). They press Accept & prepare terms, or Return with a reason. A returned request can be fixed and sent again.
  3. The lender confirms the final terms and schedule, says where to repay, names a witness of their own and sends the agreement.
  4. You read and sign online, or sign a printed copy and upload it. Every witness signs through an email link and needs no account.
  5. The lender gives final approval, sends the money outside the app, and records it with a receipt.
  6. You confirm the money arrived. The loan becomes live on both dashboards.

Good to know

  • You can have one waiting request with each lender, and send up to 5 new requests a day.
  • If the lender changes the terms after sending them, a new version is created and earlier signatures are cleared, so nobody is bound to terms they did not see.
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