If a loan listing receives bids in an amount greater than the loan listing request, Fynanz will rank all bids according to the methodology outlined below. Fynanz will then take a top down approach and include all bids necessary to fully fund the loan. There will likely be one partially winning bid – the winning bid with the lowest priority ranking, which will not need to be used in its entirety to fund the loan request.

OpenLoan winning bids will be determined by ranking all bids in order of importance taking into account 1) the lenders interest rate bid, 2) type of lender, and 3) the time the bid was placed, as is outlined below:

• Interest Rate – The bids with the lowest interest rate will receive the highest priority when determining the winning bids.
• Lender Type – If there are a number of bids with the same interest rate, the type of lender will then be used to determine the winning bids. Each lender will be placed into one of the categories below and ranked from highest to lowest priority as follows:
• Friends and family of the borrower
• Alumni of the borrower’s school
• Unaffiliated lenders
• Fynanz itself
• Time of Bid – Finally, if bids still need to be differentiated after accounting for the interest rates and lender types, Fynanz will then use the timestamp of the bid to determine winning bidders. The earlier the bid was placed, the higher its priority.