In this episode of
Money Creation Explained, we are going to cover How to Use
Your Own Money to Generate Secure Loans with IOU Notes.
According to many studies, the average American does not
have $1,000 in their bank account to cover an unexpected
bill. That means, in the event of an emergency expense
(vehicle, housing, medical, etc.), if family or friends
cannot help, the average person would have to rely on high
interest credit cards or payday loans. Most people do not
think that far in the future and do not calculate the amount
of wasted funds they spend on loan interest and related
service fees.
In addition, if people only have a small amount of funds in
their bank account, they will not want to use it for a
purchase, since it is very hard to return funds back to
their account. Even if people got a windfall amount of funds
such as from a tax rebate, most will end up using it on new
purchases. The temptation to spend new funds is easier than
saving it, but people are more likely to pay loan payments
or some other bills because they have to.
Secure Loans is a service offered by IOU Notes that allows
users to leverage their own funds to obtain small loans for
personal and business use as needed. Users can select from 1
or 2 year repayment methods and never pay more than 5%
interest per year on those funds. Using our service, a user
can have a dependable emergency loan option, help build or
rebuild their credit, budget their money better, and stop
paying high interest fees from other loans. This service was
created because of the need for affordable small loans.
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