Vouch Brings Borrowers Old-School, Trust-Based Lending
Vouch is a financial company that uses trust — through sponsors who vouch for borrowers — to lend money.By Mikah Sargent | July 7, 2015
So you know how they say you shouldn’t borrow money from friends? Well, throw that out the window … kind of.
Vouch is a financial company that wants to take lending "back to its roots." You know, back to the good ol’ days when loans were approved because of trust and character. (Video via RKO Radio Pictures / "It's a Wonderful Life")
And here’s where your friends (and family) come in: To get a loan, you need sponsors. Sponsors are people who can vouch for you — aha! there’s the name. They’re essentially saying, “Yes, this person is trustworthy and will pay you back.” They can also help out by offering to pay a certain amount of money if you fail to pay back your loan.