GreenNote allows people to pitch for a loan
At GreenNote American students can get financing for their college/university studies through acquaintances. The student creates a profile and adds, alongside the desired monetary amount, a photo, information on finished courses and in 'my story' the reason the money is needed. And of course why they think that lending them money to go to college is a good investment. From there the student can start to approach people.
If people are interested in offering a loan, GreenNote formalizes this through a legally binding contract for both the student and the person offering the loan.
Future Vision by Erwin van Lun on this article
This is how new financial brands are created in the network economy. The new model will be borrowing from the acquaintance of an acquaintance. We trust the people we know, our trusted relations, and the trust that they have in the outside world. This is how micro credit becomes useable around the globe, this is how new brands such as GreenNote grab a chance that traditional banks aren’t yet embracing well enough.
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