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Kelly XuGarfield Maitland Jr.Joseph ChuangMahfuza ShovikKatie BorgWill Gao
Fintech Hackathon
PROJECT Loan
Project L
PROBLEM
4/5 small businesses who ask for microloans are rejected.
Project L
MISSION STATEMENT
Project L strives to provide low-interest microloans to encourage local small business development.
Project L
DEFINITIONS
Microloan: a loan under $50,000Crowd-funding: raising revenue from a large number of people
Project L
BORROWERS
start project
wait for funds
complete project
repay funds
Project L
LENDERS
create profile
deposit funds
choose project
earn money
Project L
COMPETITION• all or nothing
• all or nothing
• use what you raise
• artistic projects
• entrepreneurial projects
• local businesses
• Stripe
• PayPal
• all types of payments
Project L
REVENUE
10% flat interest rate
50% revenue 50% revenue
Project L
DELINQUENCIES
Late Payments
NewPlan
Interest Increase
Cannot Repay Suspended
Project L
DELINQUENCIES
JO’S PIZZERIA
$5,000
Project L
Thank You.
Project L
APPENDICES
Borrower QualificationsCompetition Analysis
Project L
Borrower Qualifications- Over 18 years old- Business in operation for over 1 year- In good standing
- No multi-level marketing- No illegal activities- Not purely for financial purposes
- Cannot currently be in foreclosure, bankruptcy, under any liens, or in jail
Project L
Competition AnalysisKickstart
erKiva Project L
-all or nothing-artistic projects-Stripe-8-10% interest-no middle man-donations only
-all or nothing-entrepreneurial-PayPal-23% interest-middle man-crowd funding
-partial funds-small business-all payments-10% interest-no middle man-crowd funding