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Instead of mortgages, if you focus on the payday loan industry ( particularly online ), you won't need $billions of dollars. You could hold your own loans and p
by utnick 16y ago
Instead of mortgages, if you focus on the payday loan industry ( particularly online ), you won't need $billions of dollars. You could hold your own loans and probably scale up from 6 figures.
The issues are pretty much the same as mortgage and there is alot of room for innovation.
- Unseelie 16y agoPayday loan firms charge up to 500% interest, too, which they're doing because they're not using the FICA scores. That said, there does seem to be a huge area in which one could undercut that market...if they were willing to hold the debt. While we're talking about holding the debt, you could drop into microloans in the kiva style, and start with only four figures.