Article
• October 27, 2015
Get Loans from Friends Through Venmo
Get a crowdfunded loan from friends with Ledge
Aren’t friends great? You can hang with them, cry on their shoulders, get them to finance your loans…
If that sounds sketchy, relax: We’re talking about Ledge, an app that taps into your network of pals for mini loans. While apps like Qapital help you save on your own, Ledge gets you by with a little help from your friends.
To get started, create a campaign explaining why you need cash. Set the amount (up to $5,000), your interest rate, and your repayment schedule (up to 6 months).
Then, share it with friends. They can loan you the full amount or part of it, and they won’t be charged until you reach your funding goal. Ledge doesn’t charge any fees. Once you reach your goal, the money goes into your Venmo account and your lenders receive automatic repayments through Venmo as well.
After all, that’s what friends are for.
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