A tool to manage borrowing between friends. Make it easy and comfortable for both parties.

*** LoanMe is not a loan. not lending and does not match the loan in any way ***

The LoanMe Friend Loan App is used to take notes on borrowing money from friends you already know.
Make helping one another easy, transparent and comfortable, increasing your chances of getting help.

Main features
- Create a loan agreement document from the registered information
- Prepare account books and transactions/proof of transfer and save them online and send a copy to both parties via email.
- Help calculate interest (if any)
- Support for gradual refunds as much as any time Able to return the full contract closing date before the contract expires
- Notify when the payment is close to the due date

*** IMPORTANT PLEASE READ ***
1. LoanMe is just a tool for taking notes on borrowing money between acquaintances.
2. LoanMe does not lend. does not provide any financial services directly or indirectly
3. LoanMe is for acquaintances. LoanMe does not suggest or assist in any matchmaking.
4. Money transfers are not through LoanMe at all, but are direct transactions between users. LoanMe is used for taking notes and making transfer accounts only.
5. The contract is a direct contract between the users, LoanMe is not involved and does not charge any fees.

Before using LoanMe, you must agree on 3 details with your friend.
1. Amount to borrow (the system is limited to not more than 50,000 baht)
2. Annual interest rate Yes or no (the system is limited to not more than 15% per year according to Thai law)
3. Borrowing period (limited system 2 - 6 months)

Formula for calculating interest (the system is limited to not more than 15% per year according to Thai law)
Interest = remaining principal x mutually agreed interest rate between users x number of days / 365

-LoanMe has no installment, gradually raise money as much as you want-

hypothetical example to show the calculation
On the first day, borrow money from a friend for 20,000 baht, agree on an interest rate of 10% per annum, promising to pay back in 2 months.

Case 1: 2 payback, 25th and 50th day after receiving principal

At the 25th, there will be interest burden = 20,000 x 10% x (24/365) = 131.51
LoanMe account will show balance = 20,000 + 131.51 = 20,131.51.
Refund your friend, the 1st piece, amount 10,000
Balance = 20,131.51-10000 = 10,131.51

Then on the 50th day, there will be interest burden at = 10,131.51 x 10% x (25/365) = 69.39
The LoanMe account will show balance = 10,131.51 + 69.39 = 10,200.90.
If you want to return it in full, you have to pay back to close the contract = 10,200.90 baht.

Summary of Case 1:
Borrowed 20,000 baht, total repayment amount 20,200.90 baht, net interest (total cost of loan) = 200.90 baht.

or

Case 2: Payback only 1 time to close the contract on the 50th day after receiving the principal.

On the 50th day, the interest burden is = 20,000 x 10% x (49/365) = 268.49
The numbers in the LoanMe account will show the balance = 20,000 + 268.49 = 20,268.49.
Day 50, money needed to close the contract = 20,268.49

Summary of Case 2:
Borrowed 20,000 baht, total repayment amount 20,268.49 baht, net interest (total cost of loan) = 268.49 baht.

"The more you gradually pay faster The lower the interest rate."

*** LoanMe is a social project. It's just a note-taking tool. Manage borrowing between acquaintances. Make helping each other easy, clear, understand the same, do not provide financial services ***