Angel Lending, a company/website that provides a professi...
Angel Lending, a company/website that provides a professional way for friends, family, or anyone to loan money to eachother
What advice do you have to help me grow my idea?
Idea Description
A lot of small businesses get their initial start up capital from "Angel" lenders who are their friends, family, or peers. One of the biggest barriers to these loans is neither party wants to risk their relationship over money, or constantly have to talk about it when they see each other.
Angel Lending provides a professional and legal way to help this process. Everything from drafting, terms, legal, payment plans, and payments. Why pay a bank interest when you could be paying a friend or relative interest better than a CD?
What will you do if you win $10,000 for this idea?
Bring on a Chief Technical Officer and find a lawyer. Hammer out a complete business plan, complete with Beta version of website, and marketing plan. Begin looking for additional financing either angel, bank, VC, or non-bank lenders.
Vote for it now.
I like this idea. There are some people who are friends and family who may even want to lend you money in private, without you even knowing, so this could be good. It would be good if you can get an angel or a friend or family to just give you something without knowing that it came from them, then you may not risk the relationship as much.
I'd definitely be interested in learning more. Keep up the enthusiasm! Check out my idea when you have a chance, huyuno.com. Hopefully you'll be one of the site's first members! Cheers :)