Frequently Asked Questions

  • Basics

  • How do I sign up?

    Signing up takes less than 10 seconds. It's easy and quick. Head over to the Sign Up page and enter your name, email, password, and accept our terms and conditions to use this site, and BAM, you're done.

  • What's a Merit Score?

    The Merit Score is Loan Dilly's version of the Credit Score. You're rated based on the information you've submitted in your Borrower's Profile. The higher your score the better. The Merit Score max amount is 3900. Lenders take higher Merit Scores more seriously. Read more about Merit Score here.

  • How can I increase my Merit Score?

    Now you're asking the right questions! You can increase your Merit Score by submitting accurate, truthful and current documents on your Borrower's Profile. Loan Dilly validates these documents to make sure that they're real. Each item on the Borrower's Profile gives you a certain amount of points. Some give more points than others. To get the highest score possible, you'll want to complete all the fields. Loan Dilly understands that you may not have the items for a specific field. That's okay. Try to fill out as many as you can.

  • Loan Requests

  • How do Loan Requests work?

    Taking out a loan is serious business. You need to be prepared to handle that financial obligation. By filling out your Borrowers Profile, you imply to the Lenders looking at your Loan Request that you are taking it seriously and you've done your homework to submit all the right documents. The Borrower's Profile is just like walking into a bank asking for a loan, they'll give you a list of information they need and we've modeled our form after those. Once you've filled all that information out truthfully, you'll up your Merit Score to a minimum of 450 (the max is 770 so the more you submit, the higher your score) which allows you to make a loan request. At the Loan Request page, all you have to do is enter the Loan Amount, the Loan Purpose and the Loan Category. That's it! Your loan request will then be live.

  • What happens after I submit my Loan Request?

    Once you've submitted your Loan Request, each of our Lenders are notified and can review your request. Lenders can only see your loan amount, and your Merit Score. They don't get any personal information until you've accepted their Bid. Once a Lender looks at your loan and decides your Merit Score is good enough and that they want to lend to you, they can make a Bid on your Loan Request. You immediately get an email and a notification to tell you their terms. You can chose to accept it or wait to see if other Lenders place bids on your Loan as well. Sometimes other Lenders can give you a lower rate and it's worth waiting! The Lenders might try to out Bid each other and at the end of the day, you're the winner since you'll get the lowest rate! Low rates mean low monthly payments and an easier to manage loan. Awesome right?

  • What are Bids?

    Once your submit your Loan Request, Lenders can Bid on it. A Private Lender may bid 10% for your Loan Request and a bank may come in and Bid 8%. That means you just saved 2% on your loan. It sounds small but that could be $10,000+ depending on your Loan. You may need the loan more quickly, so you're welcomed to accept the first Bid but just remember it may not be the best one!

  • Pricing & Costs

  • What does it cost to use Loan Dilly?

    Nothing! Nada! Zlich! Goose egg! That means it's FREE! That's right. Loan Dilly is completely free to use for everyone. We're here to help you get great rates on loans.

  • Privacy

  • I'm worried about putting my information online. Is it safe?

    Your account data is safe. When you submit it, it's sent over a 256-bit encryption from end to end. That means it's secure. Our servers are also highly secure and we do our best to protect your data and your privacy. Nothing on the internet can be considered 100% safe but we make sure we keep to industry standard levels of security and infrustructure to do our best to keep your data protected.

  • Who can see my data?

    No one. Your data is encrypted and stored in our databases and waits there until a Lender requests your details after you have accepted their Bid. At that point we decrypt all your data and securely pass it to the Lender.