Getting a Personal Loan on YES-secure

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YES-secure, a social networking lending and borrowing marketplace, facilitates quick and affordable solutions for the entire gamut of financing requirements in the unsecured personal loans space.

Are you looking for a low-cost personal loan to tide you over a difficult financial situation? YES-secure, launched in the UK in June 2010, have introduced an innovative way to get a loan for borrowers by securing funding from real people. Like eBay, YES-secure acts as a marketplace for lenders to bid on the borrowers’ loan listings, resulting in a consumer regulated marketplace.

Borrowers can create a loan request on YES-secure specifying the amount, duration and preferred rate of interest for the loan after the registration process. They receive a grading varying from A* to E based on their credit score retrieved from Callcredit. The loan listing can last up to seven days and multiple investors place bids on it at the interest rates they choose. The borrower is then offered the loan at an average interest rate.

Once the loan is completely funded, lenders can make bids at lower interest rate to outbid those at higher interest rate, which goes to reduce the offered interest rate for the borrower. Friends and family can be added to the borrowers’ YES-secure connections and bid on their loan listing up to 10% of their loan request at the rate they choose, lowering the interest rate further. And once the loan is partly funded thus, it might accelerate others lenders’ contribution to it.

So how do you create a successful loan listing to ensure you are offered the lowest interest by lenders bidding on your loan listing?

How to create a successful loan listing

  • Take time to apply for the loan in detail: Give an adequate description of why you require this loan. Provide details of why you are a safe bet for lending money by establishing that you have the capacity to repay the loan. Use a spell check on the information you have entered to avoid any easy mistakes.
  • Ensure that you include correct information: Always provide authentic information on income or expenditure in your loan listing as otherwise it will not be approved at the underwriting stage.
  • Give relevant details of existing loans or credit cards: Clearly list the loaning agency, the applicable APR, capital outstanding and the term of the loan(s). Also mention which of these you will use the loan to pay off if your aim is debt consolidation.
  • Ensure that debt repayment details correlate with 'What is the current state of your finances': lenders might be put off by a listing which states 'No other debts' and then goes on to show debt repayment in the 'Total Expenses' details as it indicates that you are not displaying all information regarding your current finances.
  • Ensure that you answer all questions raised by lenders: Interact responsibly by promptly providing authentic information in answer to the various queries raised by the lenders individually as well as on the Discussion Forum.
  • Utilise your Connections: YES-secure tap the borrowers’ community strength by evaluating them through stability and Reliability Score (reputable and responsible connections, connections with good credit scores) along with their credit grades. So, add connections, visit the blog section for advice, ask lenders queries on the discussion forum etc. If there is meaningful interaction between borrowers and lenders it builds on the 'Community' aspect and perhaps builds a little more trust which will all help when it comes to making offers on the listings.

More information regarding YES-secure can be found at

For more information, please contact

Ms. Mala Chauhan
0871 221 9410 extension 5440 Limited
Checknet House
153 East Barnet Road

*Please note: Calls to 0871 numbers cost 10 pence per minute from a BT landline. Call charges from other networks may vary.


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Mala Chauhan
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