[18 / 3 / ?]
So I'm an impoverished guy with shit credit who is in dire need of quick cash.
The best way to solve money problems is by working a traditional job. However, this includes the wait between being hired and being on the clock, and another wait until you first get paid. This is where I am now; waiting for a job I've taken to start and then waiting for my first paycheck.
My situation got me thinking: "What if there were some way I could use my skills as an EE, SE, and web developer to acquire money on a short term basis?"
One solution would be a service where people can take out "freelance loans". This would be something that'd let people use their skills to take on freelance work, with the difference being that they get the cash for the job in advance. The catch would be that if they don't complete the job, then the money they received will act as a loan.
It'd work like this:
>Tim lost his job as a graphic designer recently
>Tim has expensive medical bills he needs to pay
>Tim takes a "freelance loan" job to design a logo for XYZ Co.
>Tim is paid in advance (60% of the market rate for such a job)
>Tim takes care of his medical bills
>Tim finishes designing the logo about a month later
>XYZ Co. is happy
>the end
Alternatively:
>Tina wants to buy an ultrabook for school
>Tina takes a "freelance loan" to build a website for ABC Ltd.
>Tina is paid in advance (40% of the market rate for such a job)
>Tina buys an ultabook
>Tina doesn't design the website
>ABC Ltd. is not happy
>the job is converted into a loan
>Tina owes ABC Ltd. for the amount of money that she received including interest
So, I have four questions.
Is this already being done? If so, where can I go to acquire one?
If not, how viable would such an idea be? What kind of legal and financial hurdles would it face?
Bonus: Can you guess the stock in the picture?
The best way to solve money problems is by working a traditional job. However, this includes the wait between being hired and being on the clock, and another wait until you first get paid. This is where I am now; waiting for a job I've taken to start and then waiting for my first paycheck.
My situation got me thinking: "What if there were some way I could use my skills as an EE, SE, and web developer to acquire money on a short term basis?"
One solution would be a service where people can take out "freelance loans". This would be something that'd let people use their skills to take on freelance work, with the difference being that they get the cash for the job in advance. The catch would be that if they don't complete the job, then the money they received will act as a loan.
It'd work like this:
>Tim lost his job as a graphic designer recently
>Tim has expensive medical bills he needs to pay
>Tim takes a "freelance loan" job to design a logo for XYZ Co.
>Tim is paid in advance (60% of the market rate for such a job)
>Tim takes care of his medical bills
>Tim finishes designing the logo about a month later
>XYZ Co. is happy
>the end
Alternatively:
>Tina wants to buy an ultrabook for school
>Tina takes a "freelance loan" to build a website for ABC Ltd.
>Tina is paid in advance (40% of the market rate for such a job)
>Tina buys an ultabook
>Tina doesn't design the website
>ABC Ltd. is not happy
>the job is converted into a loan
>Tina owes ABC Ltd. for the amount of money that she received including interest
So, I have four questions.
Is this already being done? If so, where can I go to acquire one?
If not, how viable would such an idea be? What kind of legal and financial hurdles would it face?
Bonus: Can you guess the stock in the picture?
