Family and Friends Loan

The smart way to lend a hand.

Have you considered lending money to a loved one but are not sure of how to manage the loan? Tyndall’s new Family and Friends loan may be the solution you need. You can lend between $1,000 and $25,000 for up to 60 months with a real loan agreement arranged and originated by Tyndall.

Benefits for you:

 
  • The borrower will make payments on the loan, and the interest will be split between you and Tyndall. This gives you the opportunity to earn more interest on your deposits while helping a loved one.
 
  • You will be granted the ability to see the performance of the loan, so you’ll know if your borrower is making the scheduled payments.

Benefits for the borrower:

 
  • The Family and Friends loan will give credit-challenged borrowers better accessibility to funds.
 
  • Details of the loan will be reported to the credit bureau, so it is great opportunity for a borrower to build credit.
 
 
 

Your pledged deposit account will be considered collateral for this loan, so it's important that you trust the person to whom you are lending the funds. For more information, please give us a call at 850-747-4321.


*APR = Annual Percentage Rate. Subject to completed application and approval. Qualifying interest rate and term are based on creditworthiness. Minimum Loan Amount - $1,000; Maximum Loan Amount - $25,000. The total payment amount per $1,000 on a Family and Friends Loan originated at 18% APR financed for 60 months would be $25.58. The pledged deposit account will be considered collateral for the loan. If the borrower defaults on the loan and Tyndall declares the loan in default, Tyndall may apply the collateral to the loan balance in accordance with the loan documents. Membership required; an initial $1 non-refundable membership fee will apply.