1. Submit mediation application: the borrower submits mediation application to the online merchant loan to explain his own problems and needs.
2. Mediation preparation: The online merchant loan association will arrange professional mediators to handle the borrower's application. Mediators will collect relevant information to understand the demands of both parties.
3. Convene a mediation meeting: The online merchant loan association will arrange a mediation meeting attended by both parties. Mediation meetings are conducted online or offline. The mediator will preside over the meeting and guide the two sides to negotiate.
4. Settlement through negotiation: At the mediation meeting, both parties negotiate on loan amount, repayment method, interest rate and other issues. The mediator will promote equal and honest consultation between the two sides and provide legal advice and guidance.