Loanr introduces a novel concept in the lending market by offering a peer-to-peer platform that utilizes collaterals as security. Borrowers have the flexibility to define repayment terms, select the collateral to provide, and lenders safeguard the collateral until the repayment is completed. Unlike traditional loan apps, Loanr operates as a secured collateral loaning marketplace, eliminating the involvement of collection agencies and offering a unique approach to lending.

One distinctive feature of Loanr is the transparent Annual Percentage Rate (APR) structure, ensuring borrowers are aware of the maximum interest rate of 36%. While the app does not facilitate the lending process directly, it emphasizes lender responsibility in disclosing APR and loan terms in compliance with local regulations, promoting a fair and informed borrowing experience.