Tribbe is a ledger or loan book between friends, family and colleagues. Tribbe creates a marketplace for lending and borrowing money from those in our social circles while removing the social stigma that comes with borrowing or lending to people close to us. There is no financial institution or organization providing credit services on the application. Tribbe will give people the opportunity to put up lending offers on the platform that those in their pre-selected circles can access on the application and pay back, with 0% to 10% interest. “You can Tribbe me” means “you can trust me to pay you back.”
How does Tribbe work?
How do you create my credit score?
When our users join Tribbe, we assess your behavior against various creditscoring platforms we leverage on as partners. The grading system is based on numbers from 350 to 1050, with four levels. 350-520 is low, 521 – 680 is average, 681-890 is high and 891 – 1050 is excellent. We use four key metrics in addition to partner organizations to help calculate your credit score. They are: repayment behavior, geographic location, device type and social circles.
Where is my incoming payment stored?
You money is stored in your Tribbe wallet until you are ready to send it to your mobile app or bank account that you have connected to the app.
How many transactions can I process?
You can borrow upto a maximum that is set for you based on your credit score but you can lend as much money as you would like on Tribbe.
Can I lend to anyone?
Yes, you can. To protect you from defaults, however, we suggest lending to people in your circles. These circles are based on your contacts list, and you can add anyone to any circles. You can create as many circles as they like. Examples of circles can be: family, friends, sports team, my neighbors, workmates, acquaintances etc. You can give limits to how much you want to lend to a circle or people in those circles. Any request that comes from that circle will limit itself to the lending limits you have set.
Can I borrow from anyone?
It depends. You can send a direct request to any user on Tribbe as long as you have their user name or you are in a circle they have created. Users looking for short-term loans can borrow from anyone in whose circles they are in. You may have people in your circle that do not have you in their circle. This is important to know because your request will not be visible to them. Borrowing requests will be seen on other user’s feeds, and lenders can see the terms and accept those terms or propose new terms. The higher your Credit Score, the better your chances of getting a soft loan.
Are defaulters reported?
As a peer-to-peer lending app, users borrow from each other and not from a financial institution. Tribbe priorities community trust and works to safeguard every lender and borrower in the community. Defaulters are prevented from participating in the marketplace and cannot lend or borrow on the app once they default. They also cannot benefit from other investments or purchases on the app. We do not report defaulters and neither do we call them or their loved ones to harass them to pay back the loans they have. Instead, we work to build a community where borrowers get more than just a loan. This helps likely defaulters normalize their debts and bring them back into the community to benefit from the other added value options on the platform.
Where can I send feedback or questions?
You can send feedback to firstname.lastname@example.org tweet us on @tribbe_app or on Instagram @tribbe_nation.