As if Sir. Richard Branson hasn’t shaken up enough industries already. It seems as though the Virgin empire is going to change the way small businesses are financed by making it easier for an entrepreneur to raise their start up money among family and friends. Virgin is already helping individuals organize loans for small businesses, mortgages, and personal loans, and is planning to expand into other loan areas as well, such as student loans. The interesting part about Virgin Money is that instead of the bank telling you what interest rate and loan terms you will have, the group gets to pick the loan terms and interest rate.

Like all Virgin companies, Virgin Money believes in getting customers a better deal. With money from family and friends, you can pick your own interest rate and loan terms to fit your situation. Rather than giving interest to a bank, you can keep it in the family – often adding up to thousands of dollars of savings.

This entry was posted on Wednesday, December 26th, 2007 at 3:20 pm and is filed under Technology, Entrepreneurship. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.