WeFinance

WeFinance requires Facebook Login to borrow and lend because it helps match borrowers with lenders based on mutual connections and shared networks. This reduces risk and uncertainty, making the lending process more comfortable and secure for both parties.

Yes, you can view the current public listings on WeFinance without logging in. However, to borrow or lend, you will need to log in using your Facebook account.

WeFinance uses Dwolla, a secure payment provider, to handle all loan repayments automatically. Once your Dwolla account is set up, WeFinance transfers repayments from the borrower's bank account to each lender's bank account every month. Neither borrowers nor lenders need to do anything, it's fully automated.

No, WeFinance is completely free for both borrowers and lenders. There are no fees for account creation, maintenance, or transactions. WeFinance earns money through partnerships with lenders for additional loans beyond what is crowdfunded, but this does not affect the fee-free nature of loans on the platform.

If a borrower is unable to make a payment, they should contact WeFinance's support team at support@wefinance.com to discuss the situation. However, failing to make payments on time violates the loan contract, so borrowers should communicate with their lenders about any special circumstances before missing payments.

You have control over who can see your loan listing, you can make it public or private. Private listings are only accessible through a personalized link you share. However, once lenders pledge to your listing, you cannot reject or choose specific lenders beyond controlling who sees the listing initially.

Yes, WeFinance takes the security of your personal information very seriously. All sensitive data is protected with industry-strength encryption, and WeFinance does not sell or share your personal information with third parties. Dwolla, the payment provider used by WeFinance, also adheres to strict data security practices.

WeFinance can view your name, email, hometown, schools, and workplaces listed on Facebook, as well as mutual friends you share with other WeFinance users. This information is used to show commonalities between borrowers and lenders to reduce risk. WeFinance never shares this information with third parties or posts anything on Facebook without your permission.