A 15% Guaranteed Return? Lending on the Fringes of Finance
Money For the Rest of Us
J. David Stein
4.5 • 1.4K Ratings
🗓️ 1 July 2020
⏱️ 30 minutes
🧾️ Download transcript
Summary
An analysis of the returns and risks of different lending platform options including asset-based lending, unsecured peer-to-peer lending, cryptocurrency lending and a cash advance company that promises to pay a 15% annual percentage yield.
Topics covered include:
- U-haul Investors Club and other asset-based lending options
- DriverLoans Investor Club that promises a 15% guaranteed return
- BlockFi - cryptocurrency lending with yields over 8%
- LendingClub and why returns are only 4% to 5%
- The economics of cash advance and payday loan lending businesses
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Transcript
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| 0:00.0 | Welcome to Money for the rest of us. This is a personal finance show on money, how it works, how to |
| 0:07.6 | invest it and how to live without worrying about it's |
| 0:14.0 | I'm your host David Stein today is episode 304. It's titled |
| 0:16.0 | A 15% Guaranteed Return |
| 0:19.0 | Lending on the Fringes of finance. |
| 0:23.2 | Last month I got an email from Victoria. |
| 0:26.2 | She wrote that she is a recruiter at Driver Loan USA. |
| 0:32.3 | They are a Cash Advance company that has been in operation since 2018. |
| 0:37.0 | She wrote, we have helped a lot of people and now we want to help more. |
| 0:42.0 | That's why we recently launched our new Financial Product Service |
| 0:46.0 | named Driver Loan Investors Club, |
| 0:49.0 | where we offer a 15% APY guaranteed with a minimum of $50 to open an account. |
| 0:57.8 | The platform is designed to protect us by anticipating that inflation that we are going to experience in the United States. |
| 1:05.0 | Looking at your savvy financial profile, I think you could fit perfectly to review our product. |
| 1:12.0 | We invite you to go to our website. Look forward to |
| 1:16.0 | hearing from you. All the best Victoria. I looked at the email. They had a very |
| 1:21.9 | well- designed logo. |
| 1:24.0 | Their email marketing software was HubSpot, which means they're paying at least |
| 1:28.0 | several hundred dollars a month instead of a free MailChimp account. |
| 1:32.0 | But I filed it away and I forgot about it. Then last week I got |
| 1:36.0 | another email with the heading we are officially Triple B accredited. My initial response was that's not very high. I thought that was |
| 1:45.4 | their bond rating. But no, as I read the email later, it said we're pleased to |
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