Community-based, interest-free microloans for individuals and groups seeking optimal health
Founded: 2008
Status: Nonprofit
Processing Fee: None
Website: http://www.lend4health.org
In their words:
Lend4Health facilitates community-based, interest-free "micro-loans" as a creative funding option for individuals seeking optimal health. Currently, Lend4Health is facilitating loans for the biomedical treatment of children and adults with autism spectrum disorders. Other health issues may be included on Lend4Health in the future. How Does It Work? Loan Recipients Parents/legal caregivers will submit a loan request form. I will check their references to verify their needs and will communicate with them to clarify terms, etc. I will then post to this site their needs, how much it will cost, and the terms of their loan repayment. Lenders You -- the readers out there -- will look over the profiles and choose to make a loan to somebody, in ANY amount (minimum $1) up to the loan request. Loan Payments You will make your loan through PayPal. Once the loan amount has been fulfilled, recipients will sign a written loan agreement before the loan is disbursed. Lend 4 Health as your agent will complete the loan process for you as the lender. Loans will be disbursed via PayPal. Loan Re-payments The loan recipient will re-pay the loan via PayPal based on the terms they agreed to. Loan repayment notifications will be posted to the site so that lenders will see the progress of the repayment. Once a loan is re-paid, each lender will receive his/her loan back via PayPal. Lenders then can re-pocket their money or use it to lend to somebody else. All loans will be interest-free. Note: There is no guarantee that a loan will be repaid by the borrower; it's an honor system.
