Idea_special_hof

October 2008 Hall of Fame

Lend4Health: Interest-free "micro-loans" for autism recovery

Lend4Health facilitates peer-to-peer, interest-free, "micro-loans" for families recovering their children from autism via biomedical treatments. Loans are repaid over time, then lenders have the option of re-loaning their money to another child...$5 can go far!

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Idea Description

Click HERE for a 2-min video on Lend4Health (then come back to vote!)

1 in 150 kids has autism. Autism is treatable (even reversible) through biomedical interventions (special diets, supplements). But these treatments aren't covered by most insurance policies, leaving families to forego treatment or find creative ways to fund it out-of-pocket. Lend4Health is one of those ways. In 4 months, Lend4Health has facilitated more than $7,500 in loans for 15 children. Loans can be as small as $5 and are interest-free. This model may later be applied to other needs like cancer or AIDS

What will you do if you win $10,000 for this idea?

1. LEGAL ASSISTANCE. I will hire a lawyer to (1) determine whether or not to become a non-profit, (2) incorporate appropriately, and (3) make sure I cover my bases re: taxes, disclaimers, paperwork, and audits.

2. WEBSITE. Because my web skills end at blogging, I will outsource design of a user-friendly, eye-catching website that will encourage lending as well as peer-to-peer interaction.

3. SPONSORS. I will actively pursue corporate sponsorships/grants from within the autism community to help sustain the site longer-term.

4. TAXES. This is actually first but it’s a boring step. The winner must pay tax on the $10,000 so I will set aside some for this

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