How does it work?

The process:  

  1. Download the app (when we launch very soon!) 
  2. Set your money goals   
  3. Start building your Loal Trust Score  
  4. Graduate to better credit and live life on another level

Loal uses the data you share with us to build a clear picture of your real circumstances. We put your data to work, helping you reach the money goals you set yourself in the app. It’s credit reinvented. We reward positive financial behaviour with lower rates and greater levels of trust.

The Loal trust Score

The Loal app creates a personal Loal Trust Score for you as an individual. Loal sees you as someone looking to improve their finances and live life on another level. We look beyond any credit mistakes you’ve made in the past. This is why the Loal Trust Score is different to your traditional credit score – its Loal’s way of understanding the real you and meeting your needs. 

As you build your Loal Trust Score, you’ll be able to take out a Starter Loal (your first Loan with a Goal). As you manage this starter loan, we get an even clearer picture of how you’re able to manage your finances. This means we’re able to lend to you in the future, at a lower rate. If you need a bigger loan we’ll be able to offer larger amounts over longer terms.

Boost your credit profile and improve your credit score

As you keep going with Loal, and keep on schedule with your loan repayments, your Loal Trust Score increases and the interest rate you pay on your future borrowing drops dramatically.

We feed back information about your borrowing to the major Credit Reference Agencies, meaning, once you’ve improved your credit profile with Loal, you can access mainstream financial products and start living life on another level!

Still having trouble?

Don’t worry, if you cannot find the answer to your question here, get in touch with one of our team.

Talk to us