What does LoanBack do?
LoanBack provides an online ‘wizard’ that will help you create a custom Promissory Note, or loan agreement. We provide an integrated loan calculator to help you determine the right terms of your loan. For example, let’s say you want to borrow $15,000 from your rich uncle and you can only afford a loan payment of $100. Using our ‘wizard’ you can figure out how long it will take you to pay off the loan at any given interest rate. You can create amortized payment schedules or lump sum payment schedules. You can also choose to defer the repayment period if the borrower needs some time between getting the loan and beginning repayment. After customizing the right loan for you, LoanBack will create a custom Promissory Note which defines all your loan terms in a professionally formatted legal document. We even include a payment schedule that you can print out and help keep track of your payments. To help ensure that your loan stays on track you can take advantage of our payment reminder servic
