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.
Not exact matches
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).
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.
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?
The other information, including the final loan agreement, is stored by
Loanable on an encrypted Amazon database.
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 sends the emails and a welcoming video
on your behalf to the members of your FFC network.