Either person can start a loan. For example, you can offer to lend money to Tunde, or Tunde can ask to borrow from you.
Before you start
A loan is between you and a friend on Kehbar. To add a friend, choose Start, then Add a friend. Your friend gets an invitation to accept.
Set up a loan
Choose Start, then Lend or borrow, and choose your friend.
Choose whether you're lending or borrowing.
Enter the amount. You can add interest as a fixed sum, not a percentage.
Choose how it's repaid: all at once on a date, or in instalments every week, fortnight, month or quarter.
If you like, add a note about what the money is for.
Check the details, then press and hold Hold to send offer. If you're borrowing, the button says Hold to send request.
Nobody else sees the loan until you send it. Nothing is agreed, and no money moves, until Tunde accepts.
What your friend can do
Tunde can accept, say no or suggest changes. Suggested changes come back to you to answer. If you go back and forth a few times without agreeing, you'll both be asked to start again.
While you wait, the loan shows "Waiting for Tunde". You can send Tunde a reminder, send the invitation again, change the loan or cancel it. Tunde doesn't need to be on Kehbar yet to answer.
After your friend accepts
Nothing is owed until the lender sends the money, through Kehbar or some other way. See Pay through Kehbar and Record a payment made outside Kehbar.
You both see the same amounts, repayment schedule and history. To see exactly what you agreed, choose Accepted terms on the loan.
Once a loan is accepted, its terms are fixed, repayment dates included. If the loan is repaid early, the interest stays the same.
Next: Repaying a loan.