Social Lending

A Return to Really Getting Your Proposal Heard in Social Lending

Social lending isn’t just a trend — it’s safe to say by now that social lending is definitely a strong revolution that is going to be around for a very long time. Instead of having to run to the banks and beg for the funding that you need, you can actually find regular people that really want to help you get back on your feet. Even though we would like to pretend that money doesn’t really matter, the reality is that money matters a lot more than we really want it to. Instead of thinking that you should skip over the lending that you need, you can turn to social lending. It’s all about community and helping regular people do amazing things.

Yet there’s one part of social lending that scares people away from the practice, and that’s definitely the proposal. A proposal is simply the formal request for the funds you need. You will need to spend a lot of time writing out your proposal, because you don’t want to turn people off from an otherwise great idea.

First and foremost, you have to understand that the proposal is essentially your dream on a plate, served up to your potential lenders. You have to make it sound appealing — even if all you want is a debt consolidation loan to get your family back on track. You need to give some background and maybe even tell a story. The more you can connect with your audience, the easier it will be to actually get the money that you deserve. If you don’t get a connection within your audience, they might feel that the money really isn’t going to change things in your life.

Now, your first approach might be to hide information, but this is not a good idea at all. Credit information will come out in the end, and if you weren’t up front with your credit situation, you won’t have any real chance of getting your proposal funded. It’s better to lay that information out truthfully and explain your situation. If you have circumstances that led to your credit problems — divorce, death, etc — then you should admit them openly.

Overall, these are the true keys to getting your proposal heard in social lending circles. If you apply these principles to your strategy, then your chances of having your proposal fully funded are definitely quite high!