Ledge Helps You Lend Money to Friends and Earn Interest
(Android / iOS): You’ve heard the rule: never give money to friends or family. But if you plan to do it anyway, or if you are a borrower, it is very important to set clear deadlines and deadlines. Ledge will help you with this.
This is an application that works kind of like a lending club or any other peer-to-peer lending service for that matter. Users crowdsourced loans from ordinary people, not from a bank or any other financial institution. But a couple of additional features make Ledge stand out:
- Borrowers and lenders work directly with each other and can set their own specific terms, from interest rates to repayment schedules.
- There is a limit on the loan amount: $ 5,000.
- Borrowers can pay off lenders through Venmo.
Borrowers share their “campaign” directly with people so that they can get a loan from people they really know. We told you before that if you are going to borrow or lend money to friends or family, you definitely need to set some specific conditions . What I love about this application is that it serves as a means of enforcing these conditions.
Of course, you need to submit personal information, including your Venmo account information, in order to use this application. Ledge uses SSL encryption to protect this data, but you can read their full privacy and security policy here . Check out the app yourself using the links below.