This is a nice concept ! It seems like the "natural" thing to do IMO, just lend from people to people. I'm wondering though: Is such a system legal everywhere?
Hey Conrad--it's legal for US residents. (Our payment processor requires a US address anyway, so we are currently US-limited regardless of laws in specific other places.) We've done ample research with experienced counsel and are configured a bit differently than some other peer-to-peer platforms, so we're confident it's legal everywhere in the US.
Thanks for the clear answer and good to hear! Any plans to expand this type of concept to Europe (or other regions) someday? :-)
We're still very much in the early stages here in the States but definitely would love to be able to support Europe and elsewhere eventually!