Witnesses and guarantors

Why each side names a witness, who can be one, and what happens if one declines.

Every loan agreement has a witness from each side.

• The lender names at least one witness.
• The borrower names a guarantor and witness: one person who vouches that the borrower will repay, and also witnesses the agreement.
• Each side can name up to 5.

How they sign

Each witness gets an email link, reads the agreement and signs. They do not need an account. Every update email they get afterwards has a View the agreement link.

Who cannot be a witness

The lender and the borrower cannot witness their own loan, and the same person cannot be named twice. This is checked by email, account, phone number and name.

If a witness declines

Whoever named them is told, and adds a replacement from the loan page. Only the new witness is emailed.

The lender approves last

The lender cannot give final approval, or send the money, until the borrower and every witness have signed.