Imagine my surprise when I read about this from Star Online. It is called Virgin Money USA and it is opening amidst difficult times where borrowers are having a hard time getting loans from banks due to the recent US subprime loan crisis.
Hence, Virgin will help arrange among the borrowers' friends and family members for the loans and from what I understand from the news articles (errr... I am really not into this business thing), will make the loan like a real loan thing, going through Virgin Money USA. Therefore, there should not be any hard feelings later on...
Successful or not... this Richard Branson has balls and innovation!
Sources:
Star Online Business "Virgin starts firm to manage loans between friends"
Reuters "UPDATE 1-Virgin opens US arm managing loans between friends"
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