I was discussing with a friend over lunch about the concept of micro-loans and peer-to-peer lending. They have had an amazing rate of success recently, and I believe those programs will only increase in 2009, especially as banks continue to tighten down on who they’re lending to.
This brought about an idea: would you contribute $100 towards the success of another entrepreneur? A network of individuals who understand the power of collaborative efforts, investing in the future, and the benefits of new start-ups. Say, we were to pull together 5 sponsors per business and then distribute those funds to pre-qualified businesses. What our primary checkpoints would revolve around business concept solvency and a non-negative business/criminal record. Personal credit score may not apply.
Take a moment and let us know what you think about this!