Borrow money from friends & family. 🤝 Automatically pay it back w/ interest.

You set the terms. We automate the process.

Financing on your own terms,
with the people you trust.

Here's how it works:

📝 Set Your Terms.

You decide how much to borrow, how long you need to pay it back, if you need a delay before payments start and how much interest you'll offer your lenders.

🤝 Invite Lenders.

Invite your closest friends and family to fund your loan. Your loan only opens if it becomes fully funded. Lenders decide based on their trust in you and the terms you've offered.

💰 Collect Funds.

Once your loan becomes fully funded connect your bank account and transfer funds to the account of your choosing.

💸 Auto Payback.

Automatically make repayments on the first of every month. We calculate the principal + promised interest and automatically process the correct amount to each lender so you don't have to.

Get Started.

Borrowers

Flexible & Friendly
A simple loan for anything, without credit or income checks, damaging hits on your credit score, or confusing bank processes.

Better Than A Handshake
Get the benefits of a professional financing platform w/ automated repayments, interest calculations, and a legal agreement to back up your loan, with the simplicity of a handshake deal.

One-to-One or Crowdfund
Borrow directly from one person or raise larger amounts of money by crowdfunding from multiple friends & family members.

Friends Earn The Interest, Not The Bank
Pay interest to your friends & family instead of the big banks.

Big Savings For You
Save serious money vs. traditional bank loans.

More questions? Check out the FAQs

Ready to setup your terms?

Lenders

Help Your Family & Friends
Easily lend money and help finance important purchases for the people you know & trust.

Make Money
Earn a return on your investment, while helping the people closest to you finance their dreams.

Sit Back & Relax
No need to worry about collecting or complicated calculations, we do that for you with automated monthly paybacks, including your interest.

Don't Worry
Yes, there is also a full legal agreement w/ all of the loan details between you and the borrower.

More questions? Check out the FAQs

Know someone
who could use Copaye?

FAQs

What kinds of things can I raise money for?
Copaye is just a better way to borrow money; and just like in real life (IRL) you can use the money for whatever purpose you want. However people are generally more likely to lend to you if it's on good terms and for something they would like to support such as your first home down payment, a wedding, or an important home improvement project. BUT the short answer is yes, it can be used for anything.
How does interest work?
Copaye allows you to select an interest amount to tip your lenders. We use "Fixed Interest", the simplest version of interest, which is just the percentage of the loan that you'll pay back in additional to the loan as a tip. No funny business. For example: if you offer a 20% interest rate on a $100 loan, you'll pay back $120 to your lenders. This rate doesn't change over time, doesn't compound, and won't change if you pay it off any faster or slower. It's simple so both you and the lenders will know exactly how much you'll pay back before the loan even opens.
Is this a legal agreementHow are payments made?
Once a loan is funded and transferred to the borrower, the loan will open and payments will begin according to the terms. Payments will be deducted automatically on the first of every month from the borrowers chosen account into the lenders chosen account. Each payment includes both the loan amount and the interest amount prorated over the length of the term.
Can I pay it back early?
Yes, once a loan is open a borrower can pay it back as quickly as they like.
What happens if the borrower doesn't pay it back on time?
When you use Copaye you are entering into a legal agreement directly with the other party. This legal agreement is enforcable in a court of law. Copaye will also take certain actions to ensure your borrower pays the loan in full. But it is VERY IMPORTANT THAT YOU TRUST YOUR BORROWER and understand the risks of lending them money. As a lender a Copaye loan should be viewed as a replacement for the handshake loan and not a regulated investment. You should ONLY LEND TO SOMEONE YOU WOULD LEND TO WITH JUST A HANDSHAKE AND THEIR WORD.
What are the fees?
There are no fees. Once you connect your bank account, loans are funded and paid back using ACH transfers.
More Questions? Email us

Get Started.

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