RATES AND FEES

Following the purchase of Notes and the closing of the corresponding member loans, we begin servicing the member Loans. Our procedures generally involve the automatic debiting of borrower bank accounts by pre-authorized direct debit transfer. If a borrower member chooses to pay by check, we impose a check processing fee per payment, subject to applicable law.

NEXLENDING SELF DIRECTED INVESTMENT

Our lending opportunities are  truly self-directed as it  allows you to invest in an immense number of alternative assets, such as real estate, automobile notes, equipment notes, and others all controlled by you.

Description  of Fee

Fee Amount

When Fee is Charged

Effect on Investors

Service charge on Notes 1.5% of the principal, interest and late fees received by Nexlending from borrower members in respect of each corresponding member loan (in each case excluding any payments due to Nexlending on account of portions of  the corresponding member loan, if any,  funded by Nexlending itself) At the time of any payments on the Notes, including Note payments resulting from prepayments or partial payments on corresponding member loans

 

 

The service charge will reduce the effective yield on your Notes below their stated interest rate

 

 

Loan Origination Fees Up to 6%  of total loan issued to borrower. Amount is based on borrower risk grade and the purpose of the loan

 

At the time loan is successfully funded and issued The charge will increase the borrowers total cost for the funds reflecting in the effective APR            ( Annual Percentage Rate)

 

Minimum issuance fee Assessed on loans US$5,000 JA. 600,000 and below. Fees range from JD$1000 to JD$2500

 

At the time of issuance of loan proceeds The charge will increase the borrowers total cost for the funds reflecting in the effective APR            ( Annual Percentage Rate)

 

Member loan late fee Assessed at our discretion; if applicable,

the late fee is the greater of 5.00% of the  unpaid installment amount, or $15.00, or a lesser amount as may be provided by applicable law, and may be charged only once per late payment

At our discretion, when a member loan is past due and payment has not been received after a 15-day grace period Amounts equal to any late payment fees we receive and are paid to holders of the Notes corresponding to the relevant member loan, net of our 1.00% service charge

 

Member loan unsuccessful payment fee $1300.00 per unsuccessful payment, or such lesser amount as may be provided by applicable law May be assessed each time a payment request is denied, due to insufficient funds in the borrower’s account or for any other reason

 

We retain 100% of this unsuccessful payment fee to cover our costs incurred because of the denial of the payment

 

Check processing fee $2000.00 per check processed for any payments made by check

 

At the time a payment by check is processed We retain 100% of this check processing fee to cover our costs
Collection fees Only charged after a member’s loan becomes 31 days overdue if the collection agency or Nexlending is able to collect an overdue payment; Collection fee is up to 35% excluding litigation At the time of successful collection after a member loan becomes 31 days overdue

 

Collection fees charged by us or a third-party collection agency will reduce payments and the effective yield on the related Notes; collection fees will be retained by us or the third-party collection agency as additional servicing compensation

 

Auto repossession fee    (Personal Auto)                  $  charged for the recovery  of personal auto underlying a defaulted note

 

Assessed to member’s account at the time recovery process begins and charged to member if member desires to reinstate borrowers account

 

All or some of this fee may be paid to third party recovery companies

 

Commercial vehicle Repossession fee            $ plus any legal fees charged for the recovery of commercial tractors, trailers and farm equipment underlying a defaulted note

 

Assessed to member’s account at the time recovery process begins and charged to member if member desires to reinstate borrowers account

 

All or some of this fee may be paid to third party recovery companies

 

Medical Equipment Recovery Fee $ plus any legal fees charged for  the recovery of medical equipment underlying a defaulted note

 

Assessed to member’s account at the time recovery process begins and charged to member if member desires to reinstate borrowers account

 

All or some of this fee may be paid to third party recovery companies

 

Farm Equipment Recovery fee $ plus any legal fees charged for  the recovery of  farm equipment underlying a defaulted note

 

Assessed to member’s account at the time recovery process begins and charged to member if member desires to reinstate borrowers account

 

All or some of this fee may be paid to third party recovery companies

 

Real Estate Foreclosure Fees Costs associated with the legal process of a foreclosure proceedings on real property

 

During the process of the foreclosure proceedings Will effectively decrease the net amount recovered after sale of real property
Dealer membership fees $150 to $250 based on membership level This fee is paid monthly or annually To be decided