Frequently Asked Questions

How much can I borrow?
Currently, you can borrow from B$2,500 to B$20,000, subject to credit referencing and scoring. We will increase the maximum amount in stages up to B$50,000. Details of what is currently available are set out on the page All About Borrowing.
Over what term can I spread my repayments?
What interest rate will I pay?
How will my repayment instalment schedule be calculated?
What information do I have to give to become a Borrower?
What will it cost if I want to borrow?
How will you check my credit reference?
How will my credit scoring information be used?
Can I get a loan if I have a bad credit record?
I’m self-employed. Am I still eligible for a loan? What documents do I need to supply?
Why am I asked to contribute to a Reserve Fund?
What are your information requirements for a loan request?
How do you decide if my borrowing proposition is acceptable?
What will I pay for using the service?
How do I sign up as a Borrower?
I registered as a Borrower, and now I want to be a Lender. What do I do?
How do I confirm the cost, monthly repayments & APR of my loan?
How do I submit a loan application?
Do I need to visit your office to submit a new loan request or documents?
Will my loan request be viewable outside this website?
Can I cancel a loan request?
How do I ascertain that I can get a loan?
How can I keep up to date with my borrowing, repayments and accounts situation?
My loan request is fully funded. What happens now?
If I accept, how long does it take to get the loan?
How will my loan be repaid each month?
Can I set my repayment instalment dates?
Can I change my mind after accepting a loan?
Can I change my instalments or repay the loan early?
I've already got a loan via your site, can I take out another?
What happens if I miss an instalment and/or cannot repay my loan?
I've made the last repayment on my loan, what happens now?
How much can I lend?
You can lend from BDS$2,500 up to whatever you want in BDS$25 increments. Details of the current interest rates are set out on the Enhance Your Returns page.
Over what term can I spread my lending?
What interest rate will I get?
How will I receive my interest & principal repayment instalments?
What information do I have to give to become a Lender?
Do you perform any checks on me before I can become a Lender?
How does the site check the Borrower's credit reference?
How is the Borrower's credit score information used?
What Borrower information do you require for a loan request?
Can a Borrower have a loan approved if he or she has a bad credit record?
How do I get my money lent out and earning interest?
Are my details viewable outside of this website?
What will I pay for using the service?
How do I sign up as a Lender?
I registered as a Lender, and now I want to be a Borrower. What do I do?
How can I find out the return I'm likely to get on lending my savings?
If the economy were to take a turn for the worse, how would you protect Lenders against the risk of increased Borrower arrears or defaults?
How do I pay in and/or withdraw money?
How can I keep up to date with my lending and financial accounts situation?
How does the Reserve Fund work for Lenders?
The Borrower seems to have paid more than I was expecting?
When will I know whether my money has been loaned out?
How should I communicate with my Borrower?
What happens if the Borrower doesn't pay an instalment?
What happens if the Borrower defaults on the loan?
Can I cancel or terminate a loan?
Can I sell my participation in a loan to someone else?
How should I manage my Loan Book?
What is this website?

This website is an "Online Peer to Peer Borrowing & Lending Marketplace for Unsecured Personal Loans". It is where people who wish to borrow money, "Borrowers", are matched with those who wish to lend money in order to earn interest, "Lenders".

Using the combination of a sophisticated online ID authentication service, credit checks and bespoke credit scoring models, we carefully verify the ID, the creditworthiness and the credit reference of the Borrower. We analyse the available data and allocate a credit score. Our credit risk decision engine then decides whether the Borrower is an acceptable credit risk.

The Lenders allocate their funds in small slices over many loans. The loans are automatically matched with Lenders' money by comparing the Borrower’s loan details, such as amount and term, to the Lenders’ Lending Preferences. If the two are compatible, then a match is made!

This site is managed to effect such transactions for both Lenders and Borrowers in an easy, fair and safe environment for the user participants.

How do I join?
Will my money be safe?
What will I pay for using the service?
How do loan requests work?
How does a Borrower's loan request get matched to Lenders' money?
How do credit score ratings work?
What is the Reserve Fund?
What are the conditions for registering?
Can I be a Lender and a Borrower at the same time?
What information do I have to give to become a registered user?
I do not have a Passport or Driver's License. Can I submit my Barbados ID Card?
Why do you need my banking details?
I do not have a bank account, only a credit union account. Can I use this account instead?
Who owns and manages this website?
How long has Carilend Ltd and this website been around?
How is this website regulated?
Do Carilend Ltd employees or directors borrow or lend on this website?
Is my personal data safe & secure?
What of my personal data can be seen by other users?
How can I keep up to date with my money & accounts situation?
Can I switch off some of the confirmation emails?
Is there a tax liability with this activity?
How do I register a complaint?
What are the system requirements for this website?
How do I get technical support?
What should I do if I see a way of improving the website?
How can I contact your team to get help?

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