Frequently Asked Questions

LoanLoop is a private lending management platform that helps lenders and borrowers track loan payments, generate amortization schedules, calculate late fees, and manage the full life cycle of a private loan. It is not a bank, lender, or loan servicer — it is a record-keeping and management tool for loans that already exist between parties.

LoanLoop is designed for individuals and small businesses that lend to or borrow from people they know — family loans, business partner loans, seller-financed real estate transactions, and similar private arrangements. If you need to track scheduled payments, apply late fees, or generate year-end summaries, LoanLoop is built for you.

Yes. The free plan includes the full toolkit for a single active loan — amortization schedules, payment tracking, late fees, year-end tax summaries, the borrower portal, and automatic payment reminders. Paid plans are mainly about scale and automation: more active loans (10 on Lender, unlimited on Pro), overdue and lender-alert reminders with customizable timing, and portfolio analytics on Pro. You can view current pricing on our home page.

Nothing is deleted, ever. If you have more active loans than your new plan allows, you choose which loans stay active — the rest become read-only until you upgrade or close them. All records remain visible to you and your borrowers.

Go to loanloop.app and click "Get Started." Enter your email address and choose a password. Once you verify your email, you can log in and begin setting up your first loan.

On the login page, click "Forgot password?" and enter your email address. You will receive a reset link within a few minutes. If you do not see it, check your spam folder.

Email address changes are not currently self-serve. Contact us at hello@loanloop.app and we will assist you.

Phone number is not currently a required field on LoanLoop accounts. If you need to update contact information associated with a loan, you can do so from the loan detail page.

First, confirm you're using the same email address you signed up with. If you've forgotten your password, use the 'Forgot password?' link on the login page. If you still can't access your account, contact us at hello@loanloop.app.

LoanLoop automatically shows you the correct dashboard based on your role. If you are both a lender and a borrower, you will see separate sections for each. Your lender dashboard is at /dashboard and your borrower dashboard is at /borrower/dashboard. You can navigate between them using the menu.

From your lender dashboard, click "New Loan." Enter the loan amount, interest rate, term, start date, and your borrower's name and email. LoanLoop will generate a full amortization schedule and send your borrower an invitation to view the loan.

When you create a loan, LoanLoop automatically sends an invitation email to the borrower email address you provide. The borrower can click the link in that email to create an account (or log in) and view the loan details.

No. Invite them to the borrower portal if you want them to see their schedule and payment history — or create the loan as an "offline borrower" loan and they never touch the app. You can convert an offline loan to an invited one at any time.

Ask them to check their spam or promotions folder. The email comes from noreply@loanloop.app. If they still don't see it, contact us at hello@loanloop.app and we can resend the invitation.

Yes. After creating a loan, you can add additional borrowers from the loan detail page. Each borrower will receive their own invitation and can independently view the loan.

From the loan detail page, click "Edit Loan Terms." Changes take effect immediately — your borrower is notified by email, and every change is recorded in the loan's change history so there is always a clear record of any amendments.

From the loan detail page, scroll to the bottom and click "Advanced options." You will see the option to cancel the loan. Cancelled loans are retained in your account for record-keeping but are no longer active. This action cannot be undone.

On the loan detail page, find the payment in the schedule and click "Mark as paid." You can record the payment date and any notes. The amortization schedule updates automatically.

If a payment is not marked paid by the due date plus the loan's grace period, it becomes overdue. The loan will be flagged as past due on your dashboard. Late fees, if configured, can be applied when you record the payment.

Late fees can be configured as a fixed dollar amount or as a percentage of the payment amount. You set this when creating the loan or by proposing a term change later. The fee applies when a payment is recorded as late.

Yes, if you have enabled lump sum payments on the loan. Borrowers can submit a lump sum request from their dashboard to let you know they'd like to pay down extra principal. The actual payment happens directly between you and the borrower, outside of LoanLoop — however you normally collect payments. Once you receive the payment and confirm the request, LoanLoop recalculates the remaining balance and schedule automatically.

From the loan detail page, click "Record Full Payoff." The payoff is collected directly between you and your borrower — once received, enter the payoff amount and date. LoanLoop will mark all remaining payments as settled, calculate any applicable prepayment penalty, and update the loan status to paid off.

Not currently. LoanLoop is a tracking and record-keeping tool — lenders collect payments directly from borrowers outside the platform, then record those payments in LoanLoop to keep their records up to date. Automated payment collection, where borrowers authorize recurring payments through LoanLoop directly, is planned for a future release.

The year-end summary is a breakdown of all payments received (or made) during a calendar year, including the split between principal and interest, any late fees collected, and the remaining balance. It is available from the loan detail page and is useful for tax preparation.

No. LoanLoop does not issue tax forms. We provide summaries and detailed records that you or your tax professional can use to prepare the appropriate forms. Consult a CPA or tax advisor for guidance on which forms apply to your situation.

For seller-financed real estate transactions structured as installment sales, LoanLoop can calculate the gross profit percentage and allocate each payment between principal, interest, and gain recognition. To turn it on, choose "Real Estate" as the loan type when creating or editing a loan, then check "This is a seller-financed installment sale" and enter your sale price and cost basis. The installment sale summary then appears on the loan and in year-end statements.

From the year-end summary page, you can download or print a formatted report to share with your tax professional. LoanLoop provides informational summaries only and does not provide tax advice.

Yes. Your data is encrypted at rest and in transit, and you can sign in with Google or enable optional two-factor authentication with backup codes for extra protection. We do not store payment card information on our servers.

Only you (the lender) and the borrowers you have invited to a loan can view that loan's details. LoanLoop staff do not have access to your loan data in the normal course of operations.

No. LoanLoop does not sell, rent, or share your personal information with third parties for marketing purposes. See our Privacy Policy for full details on how we handle your data.