Lenders are charged a 1.5% annual servicing fee that is collected whenever a business makes a repayment. Lenders are only charged this fee when they receive a repayment. The servicing fee is an annualized rate (1.5% / 12 months), calculated monthly on the outstanding balance of principal at the time of the payment.
An origination fee is charged on every loan that is successfully funded on Lending Loop. The origination fee covers the cost of underwriting and processing the loan.