Money Idea - Poor To Rich Loan
By well-wisher
- 380 reads
Wealthy boy A, because he's had his wallet stolen, borrows 5 pounds from less wealthy Friend B and 5 pounds from less wealthy Friend C because they can each afford to loan him 5 pounds, then later he pays them both back double because he, being, under normal circumstances, wealthy can afford to pay them both 10 pounds.
Or in other words, several less wealthy people make a joint loan to a person who has more wealth and can, in the long run, pay them all back with a good ammount of interest.
This idea might seem odd and backwards; people with less money making a loan to someone with more money, but as you can see from my stolen wallet example, as long as the wealthier person can, in the long term, access the money to pay back the lenders then they all profit.
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