On My Block + raising funds

*if you have not watched On My Block on Netflix; spoiler alert ahead

Think of all the ways an individual can raise funds:

1. Ask friends and family 

2. Loans - Borrowing from financial establishments, but these require a good credit score, some sort of collateral to borrow against.

3. Selling assets- Sell stocks, vehicles, anything that can be sold for monetary gain.

Those are several ways a company can raise funds, but nowadays with new fintech advances popping up all over, there are new ways for individuals to borrow money.

Surprise! enter Peer to peer lending

Very much like the surprise appearance of Cesar in the start of season 4 where everyone thought he was dead.

These products enable users to obtain loans at better rates normally because they use a system of creditworthiness that includes additional data other than the traditional credit score used by banks.

Some examples of peer to peer lending companies include:

LendingClub a lending marketplace for personal loans and offers loan trading on the secondary market. By not having brick and mortar locations, operating entirely online; they can make the costs low and pass them to consumers in the form great interest rates.

Prosper a peer to peer lending platform “where credit-worthy borrowers can request a loan and investors can invest in “notes” (or portions) of each loan.” The loan is not secured with any collateral

Affirm - Allows consumers to borrow money to purchase certain products, which one can pay the product purchased over a period of time in installments with generally no interest rate for the first four weeks e.g: a $500 Dyson cleaner can be paid $125 every two weeks , 6 monthly payments with 15% interest rate or 12 monthly payments with 15% interest rates.

Earnest - That offers a series of loans to individuals based on creditworthiness and helps the consumer find the loaner of their choice.

The main takeaway about banks is they are massive components all bundled up in one banking system. These fintechs unbundle a part of the banking system and figure how they can make that part better, faster or cheaper.

So I ask you this reader: What topic should I cover next?