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Originally Posted by K-Man
OK, I understand what you're saying but...
There are hundreds of agencies that advertise to people who have low or poor credit rating and can't get a bank loan. If the people wanting to borrow from this website can't get one from them, do you really want to lend your money to them?
I know i'm being a bit pedantic but i'm financially anal. Everyone I hear with a bad credit rating always has some kind of story about how's it's not their fault or something happened. I'm sceptical of the kind of people who want loans but can't get them through traditional means.
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If you've ever used ebay, you would be familiar with the feeback system. I assume this site will have a feedback system similar to ebay.
A person might not have the best credit rating, but they might have built up a history of good feedback because they have borrowed and paid back on time in the past.
Clearly there is a market for people looking for loans, and I think this is an example of a business that can bring lenders and borrowers together, and succeed.
Maybe it will fail? I dunno. I just really enjoy examples of innovative businesses. It beats talking about someone and how they just launched a new TGP.
