Pigeon
Loan money to others without the hassle 🐣
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Tilly Tanga

Pigeon - Loan money to others without the hassle

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Pigeon
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Pigeon is the smartest way to loan money to family and friends! πŸ€“ Set your own terms, calculate payments, and keep track of the money you send and receive – all in one app. πŸͺ„ Eliminate the stress, anxiety, and awkwardness of lending money. Download Pigeon. ✨

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Tilly Tanga
Maker
πŸ“Œ
Hi Product Hunt! Tilly here, along with Brian, Brennan and Ben. We are excited to share what we have been working on for the past couple of years. πŸ₯³ Pigeon is a game-changing platform that simplifies the process of loaning money between friends and family. With Pigeon, you can easily create and manage loans, set up repayment schedules, and interest rates, and track your payments in one place. No more awkward family reunions littered with uncomfortable "you still owe me" comments and reminders - Pigeon takes care of it all. Peep some of our features we offer: ✍️ Fully Customizable Loans (loan length, loan interest rates, loan principal etc). We know everyone's needs are different, so we don't impose any restrictions on the loans you make with your friends or family. πŸ’³ Automated Loan Repayments. If the borrower connects their bank account you can have automatic repayments transferred over, increasing the likelihood that the lender will get paid back in full! ⏰ Automated Payment Reminders. This is the key to avoiding awkward convos, we send out emails and notifications when payments are due. This keeps everyone on the same page and increases transparency. πŸ“‘ Optional Contract Protection. Choose to opt into contract protection if you want a promissory note in place to document your loan (also great for tax purposes 😎). πŸ“… Optional Offline Payments Tracker. Make payments directly through the platform, or use Pigeon to document other payment forms (cash, Venmo, Zelle etc). 🧾 Custom Repayment and Interest Schedules. Don't want to be repaid on a regular monthly cadence because you have life happenings to account for? Not an issue at all. Just input your preferred schedule when you are setting up your loan. πŸ“„ Promissory Note Template Available or Upload Your Own. Would you rather have a lawyer draft up a contract for you? You can upload that directly to your loan dashboard. We love feedback, so feel free to try it out and let us know what you think or ask questions. Have you ever borrowed or loaned money to friends and family? What was your experience like? Let us know in the comments! Check out our website (www.usepigeon.io) or download our mobile app today! Apple: https://apps.apple.com/gb/app/pi... Android: https://play.google.com/store/ap...
Arek Der-Sarkissian
What an interesting concept! Thanks for launching today. Are there any fees we should be aware of before receiving/sending out loans?
Brian Bristol
Maker
@arek_der_sarkissian Hey Arek, thanks for reaching out! So Pigeon operates on a freemium model! For loans less than 10k or 18 months, that do not use any of our Premium features like contract protection, custom repayment schedules, and more, our app is entirely 100% free of charge. For Premium Loans we charge a subscription fee of $6/month or a discounted $3/month is paid for up front for the duration of your loan. Find out more on our FAQ: https://www.usepigeon.io/help-ce...
srprs
Pigeon seems like a great solution for anyone looking to avoid awkward money conversations with loved ones. Can't wait to try it out πŸ™Œ
Brian Bristol
Maker
@srprs Awesome love the encouragement, feel free to reach out when you do decide to try us out! Happy to help any way we can
Johan Steneros
Ohh I think this is really interesting. Will give it a go.
Brian Bristol
Maker
@jsteneros Totally stop by and check us out! Happy to have your interest πŸ™Œ
Johan Steneros
@brianbristol This idea has a lot of potential. Just signed up and created a loan. Now I only need someone to want to borrow. Will you have a marketplace for this as well?
Brian Bristol
Maker
@jsteneros As of right now we don’t have any plans for a marketplace. It’s a really complex idea with surprisingly a lot of financial and regulatory oversight. It’s something we may explore in the future because we get asked this question a lot, but right now our focus is on interpersonal relationships who already know each other because that’s where we believe we can help make our unique mark on the world :)
Johan Steneros
@brianbristol Totally get it - I thought it would be a complex issue with regulation. The market of family and friends is a big enough problem to solve. I will keep my eye out and if someone I know needs a loan so I can fully try it out.
Dzianis Yatsenka
Hey! Interesting project, upvoted! Sometimes I lended money to my friends, but the main problem was when they didn’t return money☹️ When you integrate service that will force them to return money you will become #1 in the world 😁
Tilly Tanga
Maker
@dzianis_yatsenka Haha, definitely true Dzianis! Many people have had the same experience as you. We believe that having more structure to interpersonal loans, better documentation, and better expectation setting increases repayment rates among friends and family loans. Thanks for the support! 🀩
Dzianis Yatsenka
@tillytanga you solve important problem, good luck!
Ethan Keshishian
Congrats on the launch, team! You're solving a very real problem for a lot of people. Since it's tax season, can you share more on your features related to financial literacy and doing taxes?
Brian Bristol
Maker
@ethankeshishian Yeah totally! So it’s funny, most people don’t know but for the rare loans on our platform that completely default (I.e., 100% no repayment) we educate people on how to write off that loan on a Lender’s taxes because the IRS allows this 🀯 Tips, tricks and more like this are sprinkled throughout our ecosystem, if you’d like to read more check out the article on that topic below https://www.usepigeon.io/blog/lo...
Ethan Keshishian
@brianbristol That’s brilliant! Will check it out. Excited for more from the team!
Dani
An app I didn't realize I needed. Love the UI. Lending is fairly common in my family and it's usually kept up with hand written notes in the back of a day planner and the honor system. It's worked pretty well but I feel bad when people text to remind me that they haven't forgotten and they'll pay me on this or that day (all because I've never set any clear terms and that in itself is awkward because I'm not a bank). With this app, it's easy and organized and all the details can be worked out and accessible to both parties. No one needs to guess repayment dates and installments make it sooo much simpler. I'm super excited for you guys and congrats on launch day!
Tilly Tanga
Maker
@danielle_withers Hi Dani! Thanks for the kind words and for sharing your experience with loans. We have found that everyone has gone through something similar! That feeling of awkwardness and feeling like a bank is exactly what we are trying to tackle! Appreciate the support! πŸ’ͺ
Colin Mathews
Brilliant product! I can see so many uses for this and I love that you've thought about having paperwork to back up your loan because I think that's a major hurdle. Great job and good luck on your launch.
Brian Bristol
Maker
@colinmathews Love to hear the encouraging feedback! If you ever have any cool ideas for us to build just let us know πŸ™Œ
Tilly Tanga
Maker
@colinmathews Thanks, Colin! We love proper documentation and paperwork - makes everything easier! 🀩
Taurus Mater
An interesting platform at such but can you state for us fully the terms of getting a loan
Tilly Tanga
Maker
@taurus_mater Hi Taurus! This is a great distinction to make! We don't set the terms of the loans because the loan is strictly between friends and family members that are using the platform; we simply facilitate the loan between the two parties. As long as both the lender and the borrower agree on the loan terms then it is good to go!
Enzo Avigo (πŸ“Š june.so)
Congrats on the launch team!
Brian Bristol
Maker
@enzo_avigo Thanks Enzo! πŸ™
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