- Loaners post things for rent. They get to decide the terms of the rental,
including price and security deposit.
- Borrowers ask to borrow things from Loaners. A Loaner can approve or deny any individual request.
- Loanables hides both parties' identies until they both agree to the transaction.
- Loaners and Borrowers handle payment and delivery themselves. For payment, most members choose to use cash, check,
PayPal or Square, which lets you
accept credit card payments via your smartphone.
- Loanables provides a rental agreement that protects both parties.
Why use Loanables?
- Make money off the stuff that's gathering dust in your garage, closet, attic, or driveway.
- Save money by borrowing things that you only need infrequently.
- Help the environment by reusing instead of consuming.
What happens if a Borrower damages or loses an item?
When you post your item on Loanables, you can set a security deposit
in case something happens to your item. The Loaner gets to decide how much to
hold as the deposit (or can choose not to require one at all).
Of course, we encourage Loaners and Borrowers to discuss any potential damage themselves
before resorting to the security deposit. Often they can work out an arrangement
that is fair to both parties. After all, we're all neighbors!
How do you protect my privacy?
We don't share your actual address or contact info with the other party until you've both agreed to a rental transaction.
Instead, we anonymize your address so that the other user knows generally where you live. For example, 1234 Main Street
would be shown as "The 1200 block of Main Street"
Is the process secure?
Yes! We never ask for your credit card number or any other financial
information on the Loanable website itself, and never store any of this information
on our own servers. We only use secure payments channels
like PayPal. Read our Security Guarantee
to learn more.
Will it be a hassle to meet Borrowers to give them my items?
We think that's the best part! Neighbors today are much less connected
than we used to be. Loaning stuff out to your neighbors gives you an
opportunity to actually meet
the people living in your community (and make
a little cash at the same time).
How much should I charge for people to borrow my item?
We leave that completely up to you, but here is a
pricing comparison list
showing how much the rental stores usually charge for many items. We suggest
charging much less than this, especially if it's an item that you weren't using
anyway! That way the whole community benefits from a lower-cost option
to buying or
Why should I use Loanables instead of a message board or Craigslist?
When you Loan or Borrow through Loanables, you benefit from our comprehensive and
legally-binding loan agreement
that protects both parties by laying out
the rental terms and covering cases of loss, damage, or injury that might result from
loaning something out. We also allow users to provide ratings & reviews of
each other, so that you can borrow and loan with greater confidence.
How much does it cost?
Loanables is completely free for borrowers. For owners, there is a simple 10% transaction fee
on completed transactions (minimum of $1).
Wow, that is easy! How do I get started?
If you have
stuff that you want to loan out, just click on the
link at the top of your page.
If you are looking
for stuff to borrow, just click on the
link at the top of your page.