Everything you need to know about ethical, interest-free lending
Yes! We don't charge any interest, ever. There are no hidden fees, penalties, or charges. This is qardhul hassan - ethical, interest-free lending as it should be. You only repay the principal amount you borrowed.
Currently, LoanGuarder is a free service. We believe access to ethical lending shouldn't cost money. In the future, we may offer optional premium features for businesses, but core lending will always be free.
A witness is a trusted third party who confirms the loan agreement. Both borrower and lender invite one witness each. This creates accountability and transparency, reducing disputes and building trust. Witnesses can view loan status and help mediate if issues arise.
Yes! LoanGuarder works for both personal and business loans. Just clearly describe the purpose when creating your loan request. The same ethical principles apply to all loans on our platform.
Communication is key! Contact your lender immediately. Our platform allows lenders to grant extensions or even forgive loans if you're facing genuine hardship. Witnesses can also help mediate. We prioritize compassion over penalties.
Absolutely. We use bank-level encryption to protect your information. Your data is never sold or shared with third parties. We take security and privacy very seriously.
Yes! One account can be used for all roles - borrower, lender, and witness. You can help others while also receiving help when you need it. It's all about building a supportive community.
We currently support NGN (Nigerian Naira), USD, GBP, and EUR. More currencies coming soon! If you need a specific currency, let us know through the contact page.