A friend once told me the best way to make something viral or “sticky” is to join a conversation already in progress. Tradition says there are two ways to get your designer junkie on, cash or credit, but where there’s a need, there’s a startup.
[Enter stage left] A service that provides fast, reasonable installment loans…CommunityLend.
Here’s what I know so far:
- it’s payment at the point of sale
- not like an in-store credit card (interest rates as high as 29%)
- uses a mobile app
- interest rate is approx 12%
- it started in Canada but it’s coming to the U.S.
Does this mean we can be more responsible, or will it mean that it’s just another way to get into more debt? Yikes!
