What if...

[Satan]

So what if you were paid to repay loans everytime you paid back a loan?

And what if you were instantly refunded some amount of the loan given out should you be scammed?

Are you people of MCM interested?

Scenario by TheRealDan :

The result would look something like this; (Obviously amounts/percentages can all be tweaked)
Borrower;
- Borrow $100
- Payback $250
- Receive extra $20 upon paying back
Lender; (Lend $100, risk $50, profit $75)
- Lend $100
- Receive $175 back (Your/business takes that $75)
- If scam occurs; Receive $50
Business; (No lend, risk $50, profit $55)
- Loan occurs
- Load is payed back (-$20 to borrower, but +$75 = $55 profit)
- If scam occurs; -$50 to lender

 

[Sphry]

this is hella confusing pls no.

 

[Satan]

this is hella confusing pls no.

Why is it confusing? The concept is just insurance and incentive.

 

[Sphry]

Why is it confusing? The concept is just insurance and incentive.

I don't know why it's confusing, it just is.

 

[Satan]

I don't know why it's confusing, it just is.

Did you read the scenario? It breaks it down quite clearly. The point is that there'd be less loan scammers because they are incentivized with additional pay after their payment to the loaner.

And for loaners, theres an instant safety net of getting at least some of your money back instantly should paypal not decide in your favor of a chargeback case against a loan taker.

 

[Satan]

I clearly don't understand what you're saying lol

Would you participate in the idea that if you loaned out a certain amount of money, and someone scammed you and u lost the chargeback you'd get a % of your money back AND in turn if you were the guy who pays back your loan successfully you get PAID to do so with some amount of money in addition to your loan payback.