On the cool English marketplace Thincats, you can borrow money without a bank.
By removing the bank, the company behind the site says it can get better deals for entrepreneurs. The solution is perfect for business angels or venture capitalists and the advantage of keeping greedy banks away is obvious to us who are living the aftermath of the great banking crisis. Each loan is put up as an auction and there are no membership fees... To borrow, you must be an English company with a high credit rating and borrow between 30,000 to 3 million pounds.
Many of the lenders want to lend money for a year, and therefore they search with light and lantern over that type of short-term project.
I wonder not if but when we will see similar solutions in Sweden - the promising country of banking monopolies.
Thincats use a platform called Inrax that can be downloaded for free. http://www.inrax.com/
(Hmm last week I bought the domain onlinepengar.se….maybe time to start a small development project…)