We are introducing reputation loans as part of service improvement. This product is meant to help borrowers overcome the biggest obstacle – getting the first loan. We have established that new borrowers (by new we mean those who are yet to repay any loans) have an uphill task convincing lenders to trust them with their money. Instead of letting frustration kill the dreams these borrowers have, the reputation loans will help them overcome the first major challenge.

A reputation loan is a special loan whose main goal is to assess whether a borrower can keep the promises he or she makes.

Reputation loans will be offered by Socin.org for periods not exceeding 6 months. Interest is set at 5% per month. The funds have been drawn from the insurance kitty that compensates lenders in cases of default.

Loan Qualification

To qualify for the reputation loans, borrowers must meet certain minimum conditions:

Verified identity – any unverified borrower must submit government issued identity documents. Apart from verifying that the person is who he/she says he/she is, the documents also help us establish that the borrower has attained legal age to enter into loan agreements.


Posted a loan request  – the borrower must have posted an regular loan request and received no viable offers. Such a request(s) must have been live for at least 30 days to ensure access by many lenders. Remember, the reputation loans are not a replacement of peer-loans.


Insured for 90 days  – the loan amount given is calculated based on the insurance a borrower has. In addition, 90 days must have passed since the last insurance purchase made by the borrower for one to qualify for a reputation loan.


Loan Amount

The loan you receive is determined by how much insurance you have purchased at Socin. The amount you can take will be increased with every repayment you make. Only borrowers who make full repayments on time can progress to bigger reputation loans. All loans have to be repaid within a period of one to six months.




First Loan: The first reputation loan is set at three times the insurance amount you paid. The amount paid should not be confused with the ‘cover amount’ which is shown next to your loan requests.

Second Loan: After repaying your first reputation loan, you can apply for a second one which cannot exceed five times the insurance paid. Before applying for the second loan, you have to post an ordinary loan request  for at least 30 days. The reputation loan will be availed if you fail to secure funding from a regular lender.

Third Loan: The third loan cannot exceed seven times the insurance amount paid. Post a loan request for at least 30 days before applying.

Fourth Loan: The fourth loan cannot exceed ten times the insurance amount paid. Post a loan request for at least 30 days before applying.

Loan Repayment

All reputation loans have to be repaid within 1 to 6 months. The borrower can choose a lump-sum repayment for the one-month loan or weekly installments. Longer repayment periods have to be repaid in installments.


reputation loansThere is a specific lending account set up specifically for the purpose of providing the reputation loans. Once you have fulfilled the conditions we have set, just send a message like you would send to a normal lender here at Socin.

View the lending account here



Processing of reputation loans will start on 1st September 2017. Take advantage of these days remaining days to make sure your account qualifies soon enough.