mayefsky

5 ms·

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WeFinance Offers a Crowdfunded Alternative to Student Loans and More(techcrunch.com)
2 points by mayefsky 12y ago|0 comments
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by mayefsky 12y ago
Thanks! This is helpful feedback. It's true that our current home page pitch doesn't heavily emphasize the social connections, which does lead to some of the questions you've asked, and we can do better on that. Most lendi
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by mayefsky 12y ago
That's a very fair question. The primary reason is the underlying population of borrowers is completely different, so your claim that the risks are much higher on WeFinance is not well founded. Collections agencies on services like Le
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by mayefsky 12y ago
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!
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by mayefsky 12y ago
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
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by mayefsky 12y ago
We've personally interviewed all of the borrowers; all the borrowers have stable career paths and no history of problems paying back debt, and most are already making monthly payments on their debt--this just helps them lower the payme
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by mayefsky 12y ago
@dham, at the scale we're at we're okay with largely default Heroku rails configuration. Pointers are welcome!
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Show HN: WeFinance: Earn 4% interest by lending to real people with low risk(wefinance.co)
7 points by mayefsky 12y ago|12 comments