September 25, 2015
People are always encouraged to create and pursue their passions, but most of the time that is not easy. Developing a project and taking it to a place where it is successful is hard – this is especially true if that project involves money, or needs money to grow.
Obtaining funding for a project can be very difficult, even if there are several funding options available. One of those options is crowdfunding, a funding concept which is very popular right now as it provides the opportunity for absolute strangers to invest in projects they believe in. But what if someone wants to seek funding from those that they know?
Ledge is a new platform that allows exactly that: seek and keep track of funding from people you know, people who are close to you like your relatives, your friends, or your work colleagues. It works in a similar fashion to other crowdfunding platforms, but has some features that make it unique.
It lets users borrow money from their friends, allowing the definition of the loan amount, the interest rate and the repayment schedule, which can go up to six months. Ledge is integrated with Venmo, a free digital wallet to make and share payments with friends – this integration allows for those repayments to be automated with monthly fixed amounts, removing all complications from the process.
Ledge’s mobile app, available for iOS and Android, simplifies the sharing of campaigns (even though anyone invited to lend money to a campaign does not need to have the app in order to pledge). Transparency and security are major concerns for the developers of Ledge, and that is why there are no hidden or originating fees (nor the taking of interest portions) and protects personal data and prevents unauthorized accesses.
For anyone looking to develop a project and believing the people closest to them can best lend a hand in terms of funding, Ledge is without a doubt an excellent option to manage and control all aspects of those loans.
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