When transacting loans in LendAmi, both parties agree to a payment frequency – from weekly, bi-weekly, monthly, or even yearly or lump sum payback schedules.
However, life happens and sometimes borrowers need to adjust their payments. When this happens, LendAmi offers the lender the flexibility to skip a payment and add it to the next one, skip a payment and extend the loan, forgive a payment, or even forgive the loan in its entirety.
All these adjustments can be done in LendAmi allowing flexibility while still ensuring all your loan updates and transactions are documented.