Steemit Microloans?
I’ve seen a few folks on here doing larger Steem, SBD and Steempower loans.
I’m wondering if there is an appetite for Steem microloans? 5 to 10 Steem at 10% per one week term.
Qualifications would be reputation of 50+ and pending payouts of at least the principle plus interest within the next week.
Thoughts? Interest? Let me know.
If this is frowned upon by the community, please just leave a comment letting me know and I’ll delete the post’s content. Flagging is not necessary.
Microloans do happen, but they happen informally, directly between the lender and the loaner. I don't think there's a lot of demand for a middle-man/platform simply because the amounts are small.
What I envision is a post on Steemit laying out the terms and the parties. The payee would then comment showing agreement. This way everything is public. I’ve seen the larger lenders do this.
Some users make loans too, but be careful this is risky.
Yeah - I realize it is risky, but not paying back a loan that has a post connecting the agreement to the blockchain would easily open you up to flagging and your reputation would suffer greatly
very nice and informative post, liked by @shohana