User Scenarios

HaveFund addresses the pain points of three user categories:

Lenders lacking funds

Lenders lacking customers

Potential customers

All lenders are potentially both sellers and buyers depending on their current funding situation, but in practice, some lenders are constantly looking for more customers, while others predominantly act as agents for other lenders, while yet others move back and forth between the two roles.

Loan Sellers

When a lender receives a loan application from a potential customer, but does not have enough available funds to underwrite that loan, that opportunity loss can be quite substantial. Turning down the customer for this reason means they get no revenue at all.

With HaveFund, the lender can on-sell the opportunity to other lenders and receive a referral fee for the introduction. They can get multiple lenders to come to them all at once and they can choose the best offer according to their own criteria. There is no need to contact other lenders individually, and no need for multiple back-and-forth messages to try and broker a deal.

For large-ticket loans, if the introducing lender is able to cover part of the amount, they can use the HaveFund auction process to find partners willing to join them in forming a syndicate. The HaveFund selection algorithm then automatically collects all of the best bids required to fill the total loan amount.

Loan Buyers

If a lender has a surplus of funds, they naturally will want to find more customers to lend to so that those funds can produce revenue instead of lying idle. Of course, advertising and hiring more sales people entails is one way to get more clients, but these methods entail a substantial cost.

By joining HaveFund as an alliance member, the lender has access to referrals from all the loan sellers on the platform. They get a notification each time a new loan application is put on the market, and have the opportunity to evaluate and bid on each one.

To bid on a loan, they do not have to manually evaluate all the borrower’s details. They simply encode their credit policy using HaveFund’s policy editor, and this policy instantly provides them with an accurate and reliable credit score for every bidding opportunity that arises.

Loan Applicants

Borrowers of course will want the best deal they can find. The problem is, because lenders will make offers based on the borrower’s personal circumstances, if they are going to ask multiple lenders for offers, they will need to divulge their private information to all those lenders. This is a huge privacy concern.

With HaveFund, no potential lender sees the borrower’s private data except the winner, who is ready to make an offer. They are able to do this because HaveFund allows the lender to obtain a credit score using their proprietary credit scoring policy without seeing the private data.