Wednesday, November 16, 2005

Welcome to the LoanBack Blog

I created this blog to provide a forum for all of you interested in discussing personal lending and our product. I invite you all to share any personal experiences you've had with lending or borrowing money from someone you know in hopes that you may help others and provide us with valuable feedback that will go into improving our product.



At 6:29 PM, Anonymous Anonymous said...

what a thoughtful, well constructed blog this is. honestly, hill, I had no idea personal lending could be so beneficial to borrowers and lenders alike! thanks so much for hammering out the details and giving your perspective on such a fascinating realm of money exchange! one question: is it possible that if enough people start using loanback, personal lending finance rates could drive bank lending finance rates down?

At 7:42 PM, Blogger Hill said...

Thanks for the kinds words -- glad you found the info here useful. In response to your question, yes,
I do think it's possible that person-to-person lending as a whole could put pressure on bank financing rates. Services like LoanBack and others that make person-to-person lending safer and easier will further validate and legitimize the practice, making it a greater threat to banks. This competitive pressure should, in theory, work against the rates that banks can charge to lend money. Any other thoughts or opinions from the rest of you?


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