With Lendorse's Income Share Agreement (ISA), there is no 'initial loan amount' to be repaid and there is no 'interest rate' like traditional bank loans and student loans. Instead, we form a mutual arrangement where you pay Lendorse a fixed percentage of your future salary over a fixed term. In return, we provide you with a one-time payment for your tuition, living expenses and support you through the Lendorse platform in finding employment upon graduation in Europe.
Whilst your future salary might change, there are two parts to our ISA's that do not: the percentage that we take of your salary per month, and the number of payments you make to us.
This means that the amount of your monthly repayment will vary, depending on your salary at the time. If you earn more, your repayment amount will be higher. If you earn less, the repayment amount will be lower.