Paras Educational Fund - loans for international students

I started an application with Paras last week. Entering your schools/GMAT/IELTS you get "preapproved". Then you pay a small amount (~$10) for registration and become eligible for unlimited communication. Some observations so far:
1) email communication is not very effective. phone calls are better but it's fairly difficult to get them answered. However when you finally reach them they are patient/answering all questions clearly etc.

2) amounts in $ quoted at the web-site are using some wierd exchange rates. As a result upfront payments they're requiring for the loan processing seem to be inflated. "Paperwork with co-signor" fee is quoted to be RS11000 or $300 when in fact it is $200. Lessons learnt: pay your fees in RS

3) My fee payment was stopped by risk management department requiring some additional info for fraud prevention. Paras mentioned that transaction has failed and requested to redo however it hasn't - it was simply pending verification. Provided verification documents, got my transaction approved, and my loan application finally started. Lessons learned: read everything carefully and be patient. My redo of transaction might have led to double-payment.

4) Received additional form to fill with basic info - a person living in US was required as a reference. This is NOT a co-signor, I wonder why they need this data at all, but be prepared. As they told me, they do not plan to contact that person re myself - think it's for advertisement purposes.

5) they sent simple and clear form to my co-signor cc myself, so far everything seems to be logical and transparent.

London Business School confirmed that they have not had any experience with them so far, however they quoted them at the website. Feels like being a guinea-pig