Support Development of a 3-in-1 Self-insuring Loans Platform

Since June 2017, we have been developing and fine tuning a unique peer lending concept which we hope can help bring people together and reward them financially from their interaction. Those with extra money can give those in urgent need, loans to sort out their issues in exchange for a small profit. Those with businesses can reach more customers by showing their adverts cheaply on the platform and finally those who just want to grow their money can trade on the platform.

Why is this unique?

The concept is also self-insures the lenders by requiring borrowers to continually put in some small money into the platform to continue getting loans. This keeps away opportunistic borrowers who's goal might be to take money and run.

Another unique aspect of the platform is generating capital from businesses through advertising. By providing a social section where borrowers can interact, it is possible to show advertisements and attract money from businesses seeking to exposure for their products/services. The aim is to get 30-50% of all capital given as loans from these adverts further shielding the investors.

Finally, the platform has special units (we call them Tosers) which are bought by borrowers. These units have a monetary value that increases buy more and more of these units (demand) or decreases when members choose to sell their units (supply). Actually these units are ones used to determine each borrowers loan (e.g. getting 3 times the value of your units as loan) or the period an advert is to be shown on the platform (e.g. if you spend x dollars on these units, your advert is shown on the platform for 1 year.)

How the value of the units has been changing based on member actions

How far has the project gone?

Over the period of early development the platform has already registered 500 borrowers. We also have 10 businesses already advertising. Lenders have funded many loans. Currently the active loans are worth approximately $3,000

The Funds We Raise

We are targeting to raise enough to complete the development of the platform especially in automating transactions since currently all are approved manually. The advertising module also needs further tweaking to show ads by relevance for better satisfaction of the advertisers because that will attract more capital for the loans. We also need a module to manage lenders money better since we do not take deposits, instead we send them direct requests to fund loans when borrowers apply (we discovered this approach is more assuring to lenders). Finally, the platform needs serious advertising to reach more people. The current membership has been gained through social media exposure only.

Why Support this Project

1. You would be helping many people get/provide financial support on fair terms

2. The platform can be a perfect place to invest your money

3. You can use the platform to advertise cheaply

Any amount you contribute helps us move closer to the goal