
Bootstrapping a $60K/Month Online Lending Business - eulid55
https://launchbasket.com/building-a-60k-month-online-lending-business-an-interview-with-fig-loans-co-founder-ceo-jeff-zhou/
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ta1234567890
> Fig takes a leap of faith every time we lend. We give our borrowers an
> opportunity to show they’re more than their credit score

Reminds me of this company
[https://www.destacame.cl](https://www.destacame.cl) which helps consumers and
small business owners create a record of all their monthly payments to show
that even if they don't have a credit record, they are good payers and deserve
(good) credit. It's a pretty cool concept.

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ytNumbers
An interest rate of 190% ? Wow. For those with no credit, I guess 190% APR
represents the risk that the lender is taking. I'm sure that 190% rate sucks
way less than your typical payday loan rate, but this is why many states have
outlawed payday loans.

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brador
Why would you lend money to someone who accepts a term of 190%? Wouldn’t their
acceptance imply a lack of financial aptitude or extreme desperation?

~~~
pouta
Or confidence in their investment

