Company launches service to take on the payday loan industry by fostering direct relationships between people who want to borrow money and those seeking to make money by loaning directly.
Burlington, MA -- (SBWIRE) -- 05/21/2014 -- Loan Investment Group wants those in need of short term financial help under $1000 to know that they seek to, "give a helping hand when you need it the most". Today the company announced the rollout of their innovative lending system through their new website at http://www.loaninvestmentgroup.com. Not a bank or a payday loan service, this innovative new tech based finance company links borrowers with independent lenders. Each party negotiates the terms of a loan privately.
New members who join Loan Investment Group register as either a borrower or a lender. The only requirement is an active PayPal account. Once a member, lenders can access a list of borrowers and message them to discuss loan terms through the website (http://www.loaninvestmentgroup.com). Lenders and borrowers agree on an interest rate and repayment plan.
Loans are limited to between $200 and $1000.
For many individuals and businesses, the economic environment remains tough, with bank lending requirements the toughest in a generation. Payday loan services have been the primary option for those who need short term help. Loan Investment Group sees itself as being in a position to provide an alternative where the borrower has more choice and can find a better interest rate than they would get from a payday loan.
Unlike a financial institution, the terms become flexible based on the relationship between the parties. Loans are available for use by both individuals and small companies for almost any purpose.
Loan Investment Group allows lending members to provide loans at mutually agreeable terms to borrowing members who have the ability to pay, but who have less than favorable credit. Whilst the issue of scammers and other liabilities are inherent in any loan offer, the company offers fraud protection plans for as little as $10. Transactions are also conducted through PayPal, which also works with law enforcement to mitigate fraud. Loan Investment Group recommends borrowers carry an identity protection plan to protect their personal information.
About Loan Investment Group
Loan Investment Group provides access to a website (http://www.loaninvestmentgroup.com) which connects borrowers with lenders. Their position is strictly to create an ecosystem to foster direct relationships between parties who want to borrow money and those who want to lend money.
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