Saturday, February 16, 2008

Helping people reduce interest expenses

Money is an important part of life whether we agree or disagree.  Sometimes, we have an urgent need for cash.  If we get the money from the credit cards, we have to pay more than 20 percent interest.  When we have extra cash, we can only get 2 percent interest from the banks.  The gap between what we can get from lending our money and what we have to pay to borrow money is very big.  Zopa.com is changing it.  It's a company that matches the borrowers and lenders.  You can go to Zopa.com and lend money for 4 percent or borrow money for 8 percent.  Zopa.com is on its way to making millions.

Problem:  Credit cards charges 20 percent interest on the money we borrow.  And, banks gives up 2 percent interest on the money we lend it to them.
Idea/Solution:  Website + Borrowers + Lenders + lower interest rate for borrowers + higher interest rate for lenders
Site:  http://Zopa.com

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