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The borrowers come to LenDenClub platform from a large demographic pool, primarily consisting of salaried individuals. Their loan requests are processed soon within a few minutes after receiving a complete loan application. The borrower credential verification is conducted through various online and offline sources and our technology-enabled platform completes the loan processing online. 

Every borrower goes through a 5 step LenDen screening mechanism where the borrower’s personal, professional, and financial information is scrutinized by our digital verification mechanism and physical verification checks.

  1. Professional Verification
    We verify all personal details of the borrower including reference verification, residence verification.
  2. Professional Verification
    Our credit team also verifies the professional details of the borrower, including office reference check.
  3. Physical Verification
    Our field executives verify the professional and personal address of the borrower by doing surprise visits.
  4. Financial Detail Verification
    Borrowers financial details are verified by doing a thorough check of salary proof and bank statement analysis.
  5. Credit History Verification
    To ensure that no defaulter borrower passes through our credit check, we check for a credit history of each borrower using CIBIL Credit Bureau data.

On successful verification and confirmation of the borrower credentials, the profile is processed by our proprietary S-Algo (Screening Algorithm). The borrower is listed on the platform once the comprehensive sets of S-Algo criteria are met. In some cases, our physical verification agent also visits each of the borrower’s house before the loan amount is transferred to the account. This ensures lesser borrower defaults and easy tracing of borrowers if at all the defaults.

The above 5 steps for LenDen Screening Mechanism provides the investor with a sense of assurance that the invested amount is safe and with no fear can the investor rely on LenDenClub. 

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