Money Mola is all about making managing loans with family and friends easy. We take care of the hard part to help you create a payment schedule, track your balance, and facilitate online payments.
Step 1: Enter Loan Details
Just enter your interest rate, loan amount, and how often the borrower will pay. We will generate a payment schedule based on the terms you choose. You can make as many changes as you want to get your loan just right.
Step 2: Agree on Terms
After you have your loan the way you want it, invite the other party to the loan. Either the lender or borrower can setup the loan and invite the other person to join in. When you both agree, we will generate a simple contract that you can sign online, print out to sign by hand, or download for your records.
Step 3: Setup Online Payments
Once you both agree on the loan terms, enter your bank account information for secure transfers. You can disperse the loan, make one-time payments, or setup auto-pay. You control everything. If you ever make a payment with cash, you can enter that too!