The founders
of Loanable were inspired by this very problem: what if people could save thousands of dollars on student loan interest rates by borrowing from friends and family instead of big banks?
OverDrive, one of the leading sources
of loanable digital content for public and school libraries, was represented by Potash, who spoke about the statistics that show library patrons are more likely to purchase a title after having borrowed the ebook.
«Second, is to encourage higher private savings as a source
of loanable funds to support domestic credit and capital market, and expand financial inclusion.
As this represents a free market «equilibrium», there is no distortion in the allocation
of loanable funds.
Banks are not intermediaries
of loanable funds — and why this matters.
And neither is it a question of the lack
of loanable funds.
Not exact matches
But now, perhaps, we'll be seeing the first sign
of demand for
loanable funds.
Most e-reader owners are honest (many are
of the older generation); they will not invest the time and trouble to obtain a pirated copy
of a book if the pricing makes sense and if all books are
loanable (so they can't be read while they are on someone else's e-reader).
Or loan it, unless it is one
of a very few marked as
loanable by the publisher and, if it is, you can't read it at the same time your friend is reading it.
Making e-books
loanable will persuade a whole lot
of people to read things they wouldn't have bothered with otherwise.
«As our users increasingly turn to digital media, public libraries need to be poised and ready to serve their needs with a range
of digital materials including ebooks and
loanable e-readers,» said Queens Library President and CEO Thomas W. Galante.
On the upside, where federal student loans only offer a limited borrowable amount, which usually falls short
of the total academic expenses, private student loans offer higher
loanable amounts which can augment the shortcoming
of federal loans, federal aid or scholarship grants.
The real problem is that shorts don't have to get a positive locate at the time
of the shorting; a mere indication from the broker enables the short for a few weeks, while search for
loanable shares goes on.
But imagine a scenario where the demand for
loanable funds leaves interest rates near zero, but the times are insecure and violent, leaving you uncertain that if you stored your cash privately, you would run too large
of a risk
of having it stolen.
The next step is to use
Loanable's templates to create a set
of personalized invitation emails for the members
of your FFC network.
Loanable takes the awkward out
of asking friends and family for money, by formalizing the process and enabling you to make smaller, specific requests from a group
of supporters (i.e. Would you be willing to loan $ 500 with 25 other people, so that I can refinance my student debt?).
The
Loanable lending platform is the brainchild
of two founders, Bernard Worthy and Justin Straight.
Their initial impetus was to give students and graduates a way to refinance high - interest student debt through a network composed
of family and friends, although there is no restriction for the purpose
of borrowing on
Loanable.
For example, if you want to raise $ 10,000 from your 20 closest friends and family members, you could use
Loanable to create a $ 500 loan agreement for each
of the 20 folks on your network.
Loanable guides you during each step
of the process and even provides a loan calculator to help inform your agreement's terms.
Loanable takes the stress out
of paying back and getting paid back.
Loanable sends the emails and a welcoming video on your behalf to the members
of your FFC network.