Simple, upfront pricing. You see every number before you submit.
| Item | Amount | Who pays / when |
|---|---|---|
| Interest (APR) | Your state's statutory small-loan cap; 35% where the state has no cap; never above 35% | Borrower → lender, with repayment |
| Platform fee | 4% of the loan amount | Borrower → Peer4Peer Lending, LLC, added to the final payment |
| Late fee | $5.00 per late installment | Borrower, only if a payment is late |
| Plus membership (optional) | $10.00/month | Borrower, for larger loans and longer terms |
| Lender fees | $0 | Lenders pay no platform fee |
A $500 loan for 30 days in Pennsylvania (6% APR): you receive the full $500.00, repay $502.47 to the lender ($500 + $2.47 interest) and a $20.00 platform fee with your final payment: $522.47 total.
The same loan in a state with no small-loan cap (35% APR): $500 + $14.38 interest + $20.00 fee = $534.38 total.
Minimum term 7 days, maximum 60 days. Personal loans on Peer4Peer are short-term and are not intended for long-term financing.