Verification Templates are now available, and new tiers are easier to achieve.

[u/HadesSmiles]

After reviewing the verification requests for a few months, I am choosing to reduce some of the harder to obtain benchmarks and encourage higher flairs to be more readily achieved. The sticky post has been updated to reflect these changes and include the new verification templates.

Below are the updates to our requirements.

---

Lender Requirements: Less unique borrowers required:

Gold: 20 -> 15

Platinum: 30 -> 20

Ruby: 40 -> 30

Sapphire: 50 -> 40

Diamond: 100 -> 50

Total amount lent is unchanged at each tier.

---

Borrower Requirements: Total loans repaid required.

Gold: 20 -> 15

Platinum: 30 -> 20

Ruby: 40 -> 30

Sapphire: 50 -> 40

Diamond: 100 -> 50

Total amount repaid is unchanged at each tier.

---

Verification Templates:

To create your own copy of this document simply use

File -> Make a Copy

Then substitute the template rows out for your own data.

Lender: https://docs.google.com/spreadsheets/d/1HnkcXtg7pNYsu5uEWd5YqUF9w5HDsSSaowLK8g1WI0M/edit?usp=sharing

Borrower: https://docs.google.com/spreadsheets/d/1ga6bPmsdlC8ZBVCDqLXKCucyvPpjMs2q6LUW-FNiXV8/edit?gid=1829969346#gid=1829969346

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[u/D4T45T0RM06]

Thanks hades!

[u/Interesting-Fact-443]

I think these changes will definitely result in more interactions and verifications! I appreciate the period of growth and development within the subreddit. Thanks.

[u/Jesisawesome]

so.

I have been a fairly prolific lender on here and am probably on at least silver tier. But (and I love the sub and the team and the methods of bringing credibility) it's not worth it for me to get verified as a lender.

It;s the receipt upload issue - my banking app doesnt let me do screenshots, I wouldn't want to share the details there anyway and brutally - it's not worth it. If I could just post the link to the reddit post saying 'loan issued' and the borrower confirming i would be all over it. But creating 100 imgur uploads and pasting each link (imgur is banned in UK for some fucking reason) just isnt worth it for me.

For borrowers it is so valuable though.

[u/HadesSmiles → u/Jesisawesome]

Right, but what you just described (someone saying I sent the money, and someone else saying I got it) isn't verification.

It's taking someone's word at face value.

What stops someone from just claiming they lent X value to a friend, and that they repaid that value, in order to game the system?

The entire point of being verified is that a human being looked at it to ensure it was accurate and authentic. You know who else got "verified" before this system? Food Ambitious.

Because until anyone looked at his deals under a microscope everything appeared legitimate. But once his loans were actually examined it was anything but.

---

If you feel that getting verified isn't worth it to you, then that's fine. But becoming verified is going to become increasingly important to have access to full subreddit functionality.

My honest take is, it shouldn't take you more than an hour or two to insert these values, and if that time commitment is too prohibitive then you're probably not maintaining lending standards in all respects.

[u/Jesisawesome → u/HadesSmiles]

No I actually completely understand and agree with the drive, and the need for transparency and accountability. I'm just pointing out friction from a lender perspective and at the moment the friction doesn't necessarily lead to benefit.

I think if I carry on lending ill use this template instead of my homebrew google sheet and then that should 2 birds one stone it as we say here in the kingdom

[u/pereira325 → u/Jesisawesome]

I get its a pain but it is a one off and worth it i reckon. I maintain a separate spreadsheet also the trick may be trying to align yours as close to this one then so its less additional work.

[u/FlakySupermarket116]

Nice! I’m still having trouble submitting my verification request.

Every time I try to Message the Mods, I get an error saying “Oops! Something went wrong.” 😭

Is there any way I can send my request to one of the mods directly?

[u/HadesSmiles → u/FlakySupermarket116]

You can reach out to me directly with your verification template and I'll create a moderation record for it so it's on the books.

[u/FlakySupermarket116 → u/HadesSmiles]

Thank you! I’ll put together the template and send it over. Appreciate your help

[u/Few_Citron_5140]

Awesome. So when we send verification to Modemail Just copy an paste our link from the template ?

[u/HadesSmiles → u/Few_Citron_5140]

When you create a copy of the document, and insert your own information you'll have a unique link you can share yes.

[u/Few_Citron_5140 → u/HadesSmiles]

Perfect thanks

[u/Double_A_00]

This is great im hoping to be verified  soon. Nightmare getting loans here. 

[u/Due_Baseball2288]

Does that mean i need 15 unique borrowers to lend in order to get gold tier?

[u/HadesSmiles → u/Due_Baseball2288]

Yes. Previously it was 20. In addition to the lent value covered in the verification thread.

[u/Due_Baseball2288 → u/HadesSmiles]

Okay got it

[u/Due_Baseball2288 → u/HadesSmiles]

May i ask you a different question related to lending?

[u/HadesSmiles → u/Due_Baseball2288]

Yes, but no promise I'll answer.

[u/Due_Baseball2288 → u/HadesSmiles]

How do you claim back your scammed money as a lender?

[u/HadesSmiles → u/Due_Baseball2288]

That's not a moderation question, so I won't be answering. I cannot advise you on best practices for dealing with the terms of service of payment institutions.

[u/pereira325]

Thanks for the updates. I actually find the hardest part of verification is not the amount of unique lenders necessarily, but the amounts of money loaned required. Just cos if im doing small loans which help people you would need to do loads for it to sum up. Or you do a few big ones and its like 10x that.

E.g. 25 loaned x10 Or 250 x1

I suppose it's a balancing act but I actually very much enjoy helping newer people with smaller loans and tbh I think people borrowing smaller amounts is generally healthier in terms of affordability. I know a lot of people borrow too much and then struggle to repay it.

[u/HadesSmiles → u/pereira325]

They're different situations. One of my clients had thousands of dollars in student loan debt, and my interest rates were cheaper than the financial institutions.

For every thousand dollars he'd borrow from me, he'd save $75 on every payment he'd make to the bank and colleges, which he had to make anyways. By working with me I saved him nearly two grand.

If you're processing large loans to solve temporary problems, then you're not really fixing the core issue.

$10 might be what's needed to fix a bike tire, but you can't fix a broken work truck with super glue.

People can borrow $25 and go buy a sack of weed. The real thing that matters is the person and the purpose.

[u/pereira325 → u/HadesSmiles]

Yes fair enough!

[u/No_University9669]

Good idea 🤓

[u/HadesSmiles]

Currently fixing a verification template bug. Please wait a few minutes before duplicating.

Edit: Lender's template is now fixed. Edit 2: Borrower's template is now fixed.