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/biz/ - Business & Finance

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1439956 No.1439956 [Reply] [Original]

An app where you, me or anyone can provide micro finance to other people who need it for their businesses, projects, start-up money to buy equipment etc.

Someone says they need money and they provide a description for the purpose, and you can provide them with the funds and specify a % return you expect from them and a payback period.

Find a single flaw. Pro-tip: you can't.

>> No.1439985

So you wanna be a bank

>> No.1440000

Sounds like Lending Club

>> No.1440009
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1440009

>>1440000

MOTHERFUCKER.

I even had a cool name for it. Ask me what the name would have been.

>> No.1440010

>>1440009
was it Lending Club?

>> No.1440011

>>1440000

Lending club doesn't say anything about micro loans though. My idea is more direct lending between people.

>> No.1440014

>>1440011
mfw people dont pay back and they sue your app and you go in debt. do it anon.

>> No.1440016

>>1440010

I call it "Loan Shark".

>> No.1440025

>>1440016
What a shit name, are you 12?

>> No.1440043

>>1440025

>Apple.
>LMAO! He named his company after a fruit! What a fucking retard!

>Micro finance.
>Loan shark.
>Slightly humorous, but slightly explanatory since the lending is done person to person - and Fat Tony is going to be understandably angry if Joe Blow can't make his $200 + 10% interest payment from his loan for new power tools.

>> No.1440052
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1440052

>>1440009
>>1440010

Haven't laughed this hard in a while. Was OP serious? There are so many p2p lending services...

>> No.1440068

>>1440016
kys

>> No.1440091

>>1440043
So you basically implicate yourself as an illegal business from the get go? Yeah, you're a real Steve Jobs, kid.

>> No.1441540

this already exists. It's called p2p lending. One thing I will say is, is if you can make an app around this that allows users to quickly hook up with lenders, then it will be successful.

>> No.1441543

>>1439956
>An app where you, me or anyone can provide micro finance to other people who need it for their businesses, projects, start-up money to buy equipment etc.
so you want to lend money to people without making sure they can or will want to pay you back?
if not then you just started a bank or a pawn shop. if you don't care about fuckers not paying you can actually give loans on easier term much faster and conveniently and i really really would like you to try because i want to laugh in your face when you come back crying.

>> No.1441573

>>1439956
There are going to be a lot of distinct business niches. How are you going to fill them all? Are you knowledgeable about every type of company and product that exists? If you give bad advice, are you financially capable of fighting off a lawsuit?