Buzz
(Android/iOS): The old adage says: never lend money to friends or family. But if you’re determined to do so, or if you're the borrower, it’s vital to establish clear terms and timelines. Ledge is designed to help you with exactly that.
It’s an app that functions similarly to Lending Club, or any other peer-to-peer lending service. Users can borrow money from everyday people instead of financial institutions. However, Ledge offers a few unique features that set it apart:
Lenders and borrowers can interact directly with each other, setting personalized terms such as interest rates and repayment schedules.
The maximum lending limit is set at $5,000.
Repayments can be made through Venmo.
Borrowers can share their “campaign” with their personal network, allowing them to crowdsource the loan from people they know. We’ve mentioned before that if you plan to lend or borrow money from friends or family, it’s essential to establish clear terms. What’s great about this app is that it ensures those terms are upheld.
To use this app, you’ll need to provide personal information, including your Venmo account details. Ledge secures this data with SSL encryption, but you can review their complete privacy and security policy here. Feel free to explore the app for yourself through the links below.
