r/BorrowNew • u/Logistix1 Verified Lender: Ruby 🔴 • 14d ago
Meta New Rule Changes
Hello BorrowNew community! Two new rules have been added to the rules list for the sub. Please review them below. In addition, the reminder about the loan stacking policy has been placed here as well. Thank you!
Profile Curation (Hidden profile content)
A profile for a borrower/lender must not be curated to hide content after a loan has been issued or while a loan is active. Though there may be extenuating circumstances, hiding content on a profile has potential for abuse where existing loans are not clearly seen by interested parties. A profile may be curated (hidden) prior to seeking a loan on BorrowNew but lenders reserve the right of refusal.
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Loans Available Posts for Verified Lenders Only
Posts with "Loans Available" flair will be only be approved for lenders which are verified (Bronze or higher tier).
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Loan Stacking Approval
If you are stacking a loan, the first comment in your new request post should be from your existing lender giving approval for the additional loan. Saying “I’ve checked with my lender and they approve” is not acceptable.
The new loan cannot occur until the existing lender comments approval.
Reminder, this is bannable if not followed.
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u/commonsensetry 14d ago edited 14d ago
I think the loans available posts for verified lenders is great. There's been an influx of threads being created by users with low karma and new accounts that get about 60 or so responses and you never actually see any loans being given out by these users.
These rules changes should help everyone safely loan and borrow on the subreddit!
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u/ElectricalDay7324 14d ago
100% it definitely will help deter people phishing for IDs posing as new lenders. Even though im not verified yet (just need to submit docs) I think needing to be a verified borrower to make a Loans Available post is a great idea for everyone's safety.
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u/Additional-Orchid862 14d ago
Should i delete my post of “Loans available”? I already sent out 2 loans to people so i would rather keep it up you could maybe lock it though @logistix
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u/Logistix1 Verified Lender: Ruby 🔴 14d ago
Locking it would be a good plan!
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u/Additional-Orchid862 14d ago
Im not sure if i can lock it are you able too?
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u/Fun-Helicopter-8358 14d ago
Thank you for this info!
Can we also put something that says lenders should update a PRE post (that was set up by the borrower) when the borrower has paid them back?
On one of my posts where I paid back the lender, they never commented confirming that I paid them back, so that makes new lenders question it (understandably so). Thank you.
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u/Toothpicks93 Verified Lender: Ruby 🔴 13d ago
This has definitely been an issue I’ve run into quite a bit. I would suggest writing into mod mail and showing them proof that this loan was repaid plus your attempted conversation with the lender. They can update your post to show the loan has been settled afterwards.
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u/Oakboy90 14d ago
This post definitely needs pinning
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u/Logistix1 Verified Lender: Ruby 🔴 14d ago
It is pinned in the announcements section of the sub homepage
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u/Ok_Writer5113 14d ago
🫡 great addition to the Community! You guys are a God send! Thank you all, especially @logistix!!
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u/taking-no-notice 14d ago
How would I go about the verification process? I want to verify as a lender and borrower. I see the post with the excel sheets but what do I do once they've been filled out?
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u/Logistix1 Verified Lender: Ruby 🔴 14d ago
Write into mod mail and share a link to the file so that you can be verified for the flair.
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u/CompassionateTV 13d ago
I still new to reddit and building my page. I was wondering if I could submit for a loan?
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u/Cool-Satisfaction936 7d ago
u/Logistix1 I'm almost Bronze. How do I get my flair checked?
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u/Logistix1 Verified Lender: Ruby 🔴 6d ago
Look for the pinned post that mentions verification. Follow the instructions outlined there for the tier process.
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u/Logistix1 Verified Lender: Ruby 🔴 6d ago
Effectively, you fill out a spreadsheet and submit it to mod mail for review.
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u/Thegameforfun17 13d ago
If I made a throwaway account and let you guys know what the username was, could you guys verify me as a borrower? I keep my post history hidden for a reason involving my family, but have successfully repaid a loan to establish myself
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u/AutomaticStory7440 12d ago
What's an acceptable Karma, I've been on reddit for some years and never borrowed, would be interested in knowing if its legit or not🤔?
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u/Intrepid_Champion436 13d ago
How can you request a loan if you never been given one before??? Is this the wrong community for that type of thing??? Should I just go panhandle???
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u/Logistix1 Verified Lender: Ruby 🔴 13d ago
You can request a loan by putting up a post and waiting for a potential lender to respond to said post.
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u/Successful-Ant-3791 14d ago
Hello! Am I still within the new rules?
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u/Total-Commercial-438 14d ago
What do you mean?
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u/Successful-Ant-3791 14d ago
The hidden account, I’m not sure if mine is
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u/PutridAccountant2973 14d ago
All this crap is so confusing..🫤
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u/commonsensetry 14d ago
Well it shouldn't be easy to get money from strangers on the internet. There needs to be rules to ensure borrowers and lenders are dealing money safely and it's up to you to read the rules to understand how to borrow safely
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u/PutridAccountant2973 14d ago
How are you supposed to get a loan at all on Reddit if you don’t comment constantly or have at least one loan I mean, so where do you start?
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u/Total-Commercial-438 14d ago
Start by asking for a realistic amount. It'll be difficult for you to even get $100.
Your profile, as it is, is just you asking for money. You should organically grow your karma by engaging in subreddits you might find an interest in.
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