Frequently Asked Questions

Lendy is a record-keeping and management tool for loans that already exist between two parties. It is not a bank, a lender or a loan servicer. It builds the payment schedule, tracks payments and late fees, and covers the full life of the loan, from the first payment to payoff.

Individuals and small businesses who lend to, or borrow from, people they know: family loans, loans between business partners, and seller-financed real estate.

Yes. The Free plan gives you the full toolkit for one active loan, including automatic payment reminders. Paid plans add scale and automation: up to 10 active loans on Lender and unlimited loans on Pro, overdue reminders and lender alerts with customizable timing, and portfolio analytics on Pro. See the pricing section on the home page.

Nothing is deleted, ever. You choose which loans stay active within your new plan. The other loans become read-only until you upgrade or close them. All records stay visible to you and to your borrowers.

Click "Get Started", enter your email address and a password, then confirm your email from the link we send you.

Click "Forgot password?" on the sign-in page and enter your email. The reset link arrives within a few minutes. If you do not see it, check your spam folder.

Open Profile Settings from the menu in the top-right corner, enter your new email address, and click "Send Confirmation Email". We send a link to the new address. Your email changes when you click that link.

Your phone number is optional. To add or change it, open Profile Settings from the menu in the top-right corner and save your changes.

First, make sure you use the same email address that you signed up with. Then try "Forgot password?" on the sign-in page. If you still cannot sign in, contact us at [email protected].

Lendy shows the right dashboard for your role. If you are both a lender and a borrower, you have both: the lender dashboard is at /dashboard and the borrower dashboard is at /borrower/dashboard. Use the menu to move between them.

Click "New Loan", then enter the loan terms and your borrower's name and email. Lendy builds the payment schedule and sends the invitation for you.

The invitation email goes out automatically when you create the loan. Your borrower creates an account, or signs in, from the link in that email.

No. Choose "Offline borrower" when you create the loan. You can still track every payment, and you can invite the borrower at any time later.

Ask them to check their spam and promotions folders for an email from [email protected]. You can also resend the invitation from the loan page.

Yes. Each borrower receives their own invitation and can view the loan independently.

Open the loan and click "Edit Loan Terms". Changes take effect immediately, the borrower gets an email about them, and every change is recorded in the loan's change history.

Open the loan and use "Advanced options" at the bottom of the page. A cancelled loan is kept for your records. You cannot undo a cancellation.

Click "Mark Paid" on the payment in the schedule. To set a different paid date or add notes, click "Edit" on that payment.

A payment is overdue if it is not marked paid by the due date plus the grace period. It then shows as past due on your dashboard. If the loan has a late fee, the fee is applied when you record the payment.

A late fee is either a fixed amount or a percentage of the payment amount. You set it when you create the loan, and you can change it later with "Edit Loan Terms". The fee applies when a payment is recorded as late.

Yes, if the lender turned this on for the loan. The borrower sends a request, pays the lender outside Lendy, and the lender confirms receipt. The payment schedule then recalculates.

Click "Record Full Payoff" and enter the payoff date. Lendy calculates the amount, including any prepayment penalty on the loan. The remaining payments are cancelled and the loan becomes Paid Off.

Not at this time. Lendy tracks payments only. Money moves directly between you and your borrower, outside the app.

A summary of the payments for one calendar year: the principal and interest split, late fees, and the remaining balance at year end.

No. Lendy gives you summaries to use yourself or to share with your CPA.

For seller-financed real estate: choose a real estate loan type, check "This is a seller-financed installment sale", and enter the sale price and your basis. The installment sale summary then shows on the loan and in your year-end statements.

Open the year-end page and print it or save it as a PDF. The summary is for information only and is not tax advice.

Your data is encrypted in transit and at rest. You can sign in with Google, and you can turn on two-factor authentication with backup codes. Lendy never stores card data.

Only the lender, the borrowers invited to the loan, and any additional lenders the main lender adds. Additional lenders have view-only access.

No.