D
Deleted87795
Guest
Hello all!
I've had this idea for a few years now, however over the last month or two, it has been popping back up into my brain, especially with all of this covid stuff happening.
Idea: a simple app designed to bring potential lenders and those seeking both short-term and long-term loans together. This would, ideally, stream-line the process, as well as make it far more personal (e.g. the loan may be slightly higher risk, but perhaps the individual's reasoning, story, etc. would make it worth it to you, the lender, or not). The lender and the borrower would agree to an interest rate, length of the loan, etc.
Function(s): a review system (e.g. person paid loan off, missed X payments, etc.). The ability to link bank accounts, as well as utilize Paypal. Ideally, I would like borrowers to have the ability to submit a loan request, and give lenders the ability to scroll through various requests until they find one that meets their personal checklist/requirements/etc.
Monetization: admittedly, I am somewhat struggling in this department. My initial idea is to charge a flat fee upon purchase (say 5$), however to branch outside of that, I suppose I could also try to do something such as charge a small percentage.
Scale: nearly everyone in the US, with potential to branch off into other countries.
Privacy/legitimacy: privacy and data security is of the upmost importance here, as is legitimacy. Both parties would need to verify identity (some form of ID), and for the borrower's, there could be an "upload pay stub" feature. Again, this is something that is ESSENTIAL to me, personally (I would be doing everything in my power to block potential scammers, thieves, etc). I'd also like to have some form of credit score verification process.
All of this said, this would be a massive undertaking, especially for myself. While I have coding experience, I know absolutely nothing in regards to programming an app. I have considered the app builders, but something this complicated/in-depth/etc. would 100% require legitimate coding knowledge. I'm all for learning it, if the idea gets a general thumbs up.
The idea here is to help everyone: lender's make additional money, borrowers get a chance at getting their needs met without the struggles of banks, credit unions, etc.
I've had this idea for a few years now, however over the last month or two, it has been popping back up into my brain, especially with all of this covid stuff happening.
Idea: a simple app designed to bring potential lenders and those seeking both short-term and long-term loans together. This would, ideally, stream-line the process, as well as make it far more personal (e.g. the loan may be slightly higher risk, but perhaps the individual's reasoning, story, etc. would make it worth it to you, the lender, or not). The lender and the borrower would agree to an interest rate, length of the loan, etc.
Function(s): a review system (e.g. person paid loan off, missed X payments, etc.). The ability to link bank accounts, as well as utilize Paypal. Ideally, I would like borrowers to have the ability to submit a loan request, and give lenders the ability to scroll through various requests until they find one that meets their personal checklist/requirements/etc.
Monetization: admittedly, I am somewhat struggling in this department. My initial idea is to charge a flat fee upon purchase (say 5$), however to branch outside of that, I suppose I could also try to do something such as charge a small percentage.
Scale: nearly everyone in the US, with potential to branch off into other countries.
Privacy/legitimacy: privacy and data security is of the upmost importance here, as is legitimacy. Both parties would need to verify identity (some form of ID), and for the borrower's, there could be an "upload pay stub" feature. Again, this is something that is ESSENTIAL to me, personally (I would be doing everything in my power to block potential scammers, thieves, etc). I'd also like to have some form of credit score verification process.
All of this said, this would be a massive undertaking, especially for myself. While I have coding experience, I know absolutely nothing in regards to programming an app. I have considered the app builders, but something this complicated/in-depth/etc. would 100% require legitimate coding knowledge. I'm all for learning it, if the idea gets a general thumbs up.
The idea here is to help everyone: lender's make additional money, borrowers get a chance at getting their needs met without the struggles of banks, credit unions, etc.
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