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An idea, or does it exist?

by Tim Baxa
11 replies
There should be an online loan service that you can put up websites as collateral . For instance if said website is valued at 500 bucks you can barrow up to say 25% of what its worth, so 125$.

What you guys think? Or does it exist.
#exist #idea
  • Profile picture of the author Randall Magwood
    I dont think this is a sound business model.
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    • Profile picture of the author knish
      Originally Posted by Randall Magwood View Post

      I dont think this is a sound business model.
      I don't like the idea either. It's almost as risky as putting up something of value for collateral. I also don't think it would help your credit or your reputation.
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  • Profile picture of the author n_touch
    Not even close to one. This is the same reason that we are in the financial mess that we are in. To many people saying that something was worth X and borrowing against it. The market is not large enough for those that are loaning out the money to make sure that they are going to get it back.

    The other thing that you have to keep in mind is how to do you get the site? Do you have to transfer everything when you get the loan? If so you will not be able to transfer it back for 90+ days. The other thing is that many times they will be loaning just against the domain name, since you own the site what would stop you from making a copy and just letting the one they have go?

    I agree with above, there is just no way that this could ever be safe for the person loaning the money.
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  • Profile picture of the author Kal Sallam
    It does not exist at least I haven't seen it anywhere or heard of it as of yet.
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  • Profile picture of the author Rich Struck
    Actually it does exist or it used to at least. I can't recall the name off hand but, digipawn maybe something like that.

    Edit...

    Here it is...

    http://www.digipawn.com/
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  • Profile picture of the author faysal969
    I have not heard it ever. I also think it is not a safe business technique.
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  • Profile picture of the author Andrew Mak
    yes, your credit card will do.

    no need your websites as collateral
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  • Profile picture of the author WorkOnline
    I don't think its a good idea. Using your website as a collateral isn't really possible here in this line of business. Financially you have to be ready in putting up your online business.
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    • Profile picture of the author Tim Baxa
      I was thinking more of the value of the domain name.
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  • Profile picture of the author WebPen
    Where's the business model here?

    So you borrow money- then what do you do with it?

    And what about the interest you have to pay on the loan?
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  • Profile picture of the author Nixgan
    Never seen it, wouldn't bother about it too!
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