Start-up firms are offering an alternative to traditional debt by letting people sell a portion of their future earnings for cash.
by Hannah Thomas-Peter, Sky News:
A new industry is offering people the chance to “sell” a portion of themselves to investors in return for a cut of their future earnings.
Start-up companies such as Pave match carefully vetted, mainly young individuals, known as “prospects” with those willing to offer a one-time cash infusion.
On average prospects seek to raise around $20,000 (£12,100), although so far amounts have ranged between $3,000 (£1,800) and $50,000 (£30,300).
They choose to repay up to 10% of their future earnings on an annual basis for either five or 10 years.
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