🧭 One Loan. One Clear Process.
Boyledown offers a single, transparent personal loan — and a process that respects your time and clarity. Here’s how it works:
✅ Step 1: Submit a Loan Inquiry (Pre-Filtering)
This quick form helps determine whether our loan product is relevant to your needs.
- This is not a loan application
- No credit or income questions
- No evaluation of creditworthiness
Loan details:
$3,000 at 12% APR
With your choice of a 1, 2, or 3-year term
✅ Step 2: Inquiry Review
We manually review every inquiry. Due to our limited lending capacity and the very specific nature of the loan we offer, not all inquiries will result in an invitation to apply.
If we don’t extend an invitation, you’ll receive an email explaining that the decision was based on one or both of the following:
- A lack of available lending capacity at the time
- A determination that the loan product we offer may not align with the needs you shared in your inquiry
These decisions are made without evaluating your creditworthiness, and do not reflect a judgment about your qualifications. For instance. Boyledown does not provide loans for gambling. If someone stated in their loan inquiry that they wanted the loan for gambling, an invitation to apply for a loan would not be extended.
In ALL cases, we follow up at a later date when capacity becomes available.
✅ Step 3: Prequalification Call
If your inquiry appears aligned with our loan offering, we’ll give you a call to corroborate the loan inquiry and explain the general nature of the loan application process and the loan product(s) offered.
✅ Step 4: Invitation to Apply
If your inquiry appears aligned with our loan offering, we’ll email you an official invitation to apply.
✅ Step 5: Complete the Full Application
The Boyledown application includes:
- Completing the loan application form with basic financial details (e.g., identity, income, debt) and with providing supporting documentation to verify this information.
- A short written reflection where you explain:
- Why you believe this loan is a good fit
- Your willingness to repay
- A 10-question multiple-choice quiz on:
- Key Boyledown loan terms and policies
- A one-on-one meeting with the lender
After you’ve submitted everything above, we try to meet in person. When circumstances do not allow it, we meet by video call. This brief conversation is a chance to ask questions, clarify terms, and confirm mutual understanding of the application and the loan agreement’s material terms.
✅ The written reflection, the loan agreement review questions and the one-on-one meeting are required parts of the application.
⛔️ Failure to submit either the quiz or the written reflection— or electing not to participate in the one-on-one meeting — will result in a declined application.
✅ Step 6: Final Review & Loan Origination
If your full application is complete and meets our approval criteria:
- You’ll receive a simple, clear loan agreement
- No hard credit check
- No fees or penalties
- No third-party collections
Once signed, funds are disbursed, and repayment begins based on your selected term, almost always on a monthly basis, in equall installment payment amounts.
✅ Step 7: Loan Servicing
- Track the loan after funding — monitor the outstanding principal, accrued interest, payments, and payment history.
- Process payments — apply each payment according to the loan agreement, including accrued interest and principal.
- Maintain accurate records — keep the loan balance and payment history current and reconcile payments received.
- Handle borrower questions — provide clear answers about balances, payments, interest, due dates, and account history.
- Manage delinquency — monitor missed or late payments and follow the company’s established grace-period and collection procedures.
- Update the borrower’s account — record payment arrangements, deferments, forbearances, prepayments, and other servicing events when applicable.
- Continue servicing through payoff — calculate the final amount due, confirm payoff, and close the loan once satisfied.
✅ Step 8: Loan Satisfaction
- Continue servicing through payoff — calculate the final amount due, confirm payoff, and close the loan once satisfied.
- Final payment is received — the loan is fully satisfied. Loan balance reaches $0 — the account is reconciled and closed.
- Original loan agreement is marked “Paid” or “Canceled.”Original loan agreement is returned to the borrower within the required timeframe.
- Loan records are retained — Boyledown keeps its copy and updates its servicing records.
- The loan is complete — the borrower’s obligations under the loan have been satisfied.