Earlier this month I wrote about Kickfurther, a company that allows ordinary investors to lend money to small companies seeking to grow their businesses. Companies apply for loans, and if they make it through Kickfurther's underwriting process, Kickfurther puts the loan up on its website so investors can purchase shares of it. Once the loan is fully subscribed, Kickfurther takes the money, collects a certain portion as their fee and then purchases the goods the company wants to sell. The picture above is deodorant. North Coast Organics had to opportunity to sell to TJ Maxx but needed money to finance the inventory. They requested over $7,000 and offered an 8% return. Well, they got paid for the deodorant so those of us who invested got our money back today, plus 8% interest. They had my money for two and a half months.
Since my $50.00 (plus $4.00) was back in my account, and another company was looking for money, I signed up.
You use this stuff for screen printing, a process I won't pretend I understand. This company will pay 10% after six months.
Marlie Madison is a Texas boutique that sells pretty things like these:
They promised a payback of 11% after six months. I invested $50, and so far they've paid me back $8.07. They are supposed to make another payment in four days.
So far, Kickfurther is looking like a winner for me. A few more good payoffs, and no losses would convince me to put some real money into this. Right now, the problem I see with the site is a lack of borrowers. The last three offers I've seen were all funded within hours. Right now, if I wanted to invest in something, there is nothing available.