We’re creating a simple and legal framework for friends and family to come together and support one another. Sparo is the platform that will allow lenders to submit rates to potential borrowers in the marketplace. Rather than resorting to exorbitant credit card fees or seeking out expensive payday loans, borrowers will be able to leverage their network. We’re removing the discomfort of asking for money and creating a platform that will bring communities together.
57% of borrowers would have preferred to borrow from family or friends, according to a recent Pew Research report of payday borrowers
$900 billion of credit card debt in the U.S. with $140 billion in interest paid each year and another 20% of Americans don’t have credit
10% of the interest set by the user will be charged by us
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