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Lending Circles
in a strip in brooklyn there are pool halls, karaoke joints, hot pot restaurant. A 20,000 square foot hotel is under construction. roughly
70 percent of these businesses were capitalized via lending clubs.
Hui, chienese |
junta, peruvian |
Tandas, latin american |
kye, korean |
paluwagan, filipino
64 Million Americans
lack a paper trail of their transactions in informal lending clubs
These lending clubs typically include users contributing to a common pot and taking turns borrowing from it
Moveup formalizes informal lending clubs to create a history and give people a shot at qualifying for loans
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