Bankbook

Just more than one (1) year ago I joined Cambrian House, an idea-sharing web community based in Calgary Canada. Today I read on TechCrunch that Cambrian House has been purchased by established venture capital firm Spencer Trask, who will undoubtedly attempt to develop several of Cambrian Houses seven thousand (7,000) ideas. I only had the gall to post one (1) idea to the community, and want to share it with my readers prior to Spencer Trask dimming the lights at Cambrian House.

My idea is to come up with a marketplace where customers can submit their proposals, budget for the project, income statements / balance sheets, tax returns and personal financial statements of the borrower, and other pertinent information; then put the project out to bid. My thought is that a risk rating can be developed from this data.

The bidders on the projects can be individuals or financial institutions and would work similar to Prosper. Revenue can be generated by advertising as well as charging a fee to the financial institutions for using the service.

As always, comments are encouraged.

Posted on May 12th, 2008 | By: bootstrap economist | Filed under Banking, Web Technologies

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