Pooling Resources

[kohteddy]

Hi User,

I have been reading forums and see that many people are trying to set up something on their own in some ways or another, but always met up with difficulties, like yours truly here. Its frustrating, in terms of funds, money, capital. Which bring me to an idea to share with you...

Since we have such a high number "entreprenuerish" Singaporeans, will it be possible that we can poll up all our resources? We set up a trust fund where members will pay $50 each to a pool. After an amount has been set up (eg $50000 from 1000 members), members can then take turns borrow money from this pool to do their desired business.

Of course, since this is not charity, members who borrowed from this pool will have to pay back at a interest and maybe even contribute a % of their profit. It is purely a volunteer basis to help the community, especially budding young people like me a chance to do business, minus the hassle of borrowing from banks (if you done it before you know it).

Enough said and I hope this thread can be can be discussed and hopefully we can bring it to next steps. Have a good day