Frequently Asked Questions
For Borrowers
How much does it cost to borrow a book?
It costs $5 per borrow. This fee is charged when you and the lender both confirm the exchange has happened.
What happens when I submit a borrow request?
When you submit a request, it's sent to the lender for approval. The lender has 7 days to accept or decline. No payment hold is placed until the lender accepts.
What happens when the lender accepts?
When the lender accepts your request, you have 5 days to complete payment. When you pay, we place a temporary hold on your card for $5 + the book value (up to $50). This hold is not a charge - it just reserves the funds while you arrange the exchange.
What's the timeline for borrowing?
Request submitted: Waiting for lender to accept (no hold yet). Lender accepts: You have 5 days to complete payment. Payment completed: Hold placed on your card ($5 + book value), 7 days to meet. Exchange confirmed: $5 is charged, book value hold remains. Book returned: Book value hold is released.
What if I don't return the book?
If the book is not returned by the deadline, you will be charged the book value (up to $50) as set by the lender. Please return books on time!
How do I return a book?
Click "I'm returning the book" in the chat. Meet the lender, hand over the book, and they will confirm the return. Once confirmed, the book value hold is released from your card.
How do I protect myself during the exchange?
You can generate a 4-digit exchange code for the lender to enter. Only share this code when you physically have the book in hand. If you share it before receiving the book, a dishonest lender could claim they gave it to you when they didn't. Alternatively, you can simply click "I've got the book" to confirm directly.
For Lenders
Is self publishing encouraged?
Yes, SF Book Project is built with self publishing in mind. You should be able to share your manuscript as long as it is in book shape.
How much do I earn per borrow?
You earn $3 for each completed borrow. The borrower pays $5, and $2 goes to the platform to cover costs.
When do I get paid?
You receive your $3 payout when the book is returned and you confirm receipt.
What's the timeline for lending?
After receiving a borrow request, you have 7 days to accept or decline. Once accepted, the borrower has 5 days to complete their payment. You then have 7 days to meet the borrower and hand over the book. Your $3 payout will be released as soon as you confirm the book has been safely returned to you.
What if the borrower doesn't complete payment after I accept?
If the borrower doesn't complete payment within 5 days of your acceptance, their request simply expires and you don't need to do anything. Your book stays listed and open to other requests the whole time, until you and the borrower confirm the exchange in person.
What if the borrower doesn't return the book?
If the book isn't returned by the deadline, the borrower is automatically charged the book value you set (up to $50), and this amount is paid to you along with your $3 lending fee.
How do I set the book value?
When listing a book, you set a value between $0-50. This is the amount the borrower will be charged if they don't return the book or if it's severely damaged. We recommend setting it close to the book's replacement cost.
How do I confirm a return?
When you get your book back, click "I've received the return" in the chat to confirm. Once confirmed, you'll receive your $3 payout.
How do I protect myself during the exchange?
Always have the borrower confirm the exchange on our platform BEFORE handing over your book, either by having them confirm receipt on their end or by getting the borrower's 4-digit exchange code to enter on your end. This proves you gave them the book, so they can't later claim they never received it.
How do I set up payouts?
To receive your $3 earnings, you'll need to set up a payout account through Stripe. Go to Settings > Lender Payouts and click "Set Up Payouts". It takes about 5 minutes to complete. You only need to do this once.
Why do I need to provide personal information for payouts?
Stripe is required by law to verify the identity of anyone receiving payouts (Know Your Customer regulations). This is the same for all payment platforms like PayPal or Venmo. Your information is securely handled by Stripe and never stored on our servers.
Payout Setup Cheatsheet
Here's what you'll need when setting up your payout account:
- Business type:Individual
- Industry:Retail > Other Retail (or similar)
- Your website:sfbookproject.com
- Statement descriptor:SF Book Project (this appears on bank statements)
- Personal info:Name, address, date of birth, last 4 of SSN
- Bank account:Routing number and account number for payouts