All borrowing requests on Ablrate, when fully filled and documents completed, become individual loans for fixed-rate loans paying interest only or paying capital and interest over the period of the loan. The loan interest rate is set by the borrower in consultation with Ablrate. Lenders can decide whether or not that rate is acceptable taking into account the risks that are in the transaction. If a loan is posted as a ‘scheduled loan’ there is the opportunity, in some circumstances, for Underwriters to have input in the rate that the borrower will pay.
The rate shown to lenders is the gross rate on the specific micro-loan (before any tax liability you may have) made to the borrower.