Crowdfunding?

[LogTerm0021]

Hi,
I heard about a new Irish service/website which is a 'crowdfunding' site.
Does anyone have any views on 'crowdfunding' sites? Is it safe? Can you loose your money? As its a loan - guess if a company goes out of business!
Interested in any thoughts.

 

[T McGibney]

Of course you can lose your money. That is the point, you get a higher interest rate for the higher risk. Its success depends on the goodwill & fortunes of the recipient of the loan, but as the amounts involved are small, the lender doesn't lose out too badly if they never get their money back.