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Kojo Kesse is watching this 6 years ago
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Guita Gopalan shared this idea 8 years ago

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Documenting Informal Loans & sell data

a startup idea shared by Guita Gopalan on 08/21/2013

A lot of people lend money to one another, sometimes using some sort of collateral - jewelry, car, property... but they don't draft papers, agreements or legal documents covering the loan. Later on there are problems when the borrower defaults. 1. Create a site which is simple to use - input loan amount, term, interest rate, payment plan, collateral and voila an agreement comes out. 2. The agreement can then be used as is by the borrower/lender. And the company can serve as custodian for the agreement. 3. All this massive data re informal loans can be shared w/ banks and other lenders so that they can better tailor their products to suit the market




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JB ATLAS Software Developer/web-desktop Grand Rapids, MI USA

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