First Thoughts on LoanTech.
LoanTech just began a “Silver” listing on the EmilyNews monitor. They are a relatively new company and have been online for a month or so. Welcome to our monitor!
As their name implies, LoanTech claims to be in the loan business. Here is the brief statement from the “About” section of the website that sums up their operations:
Founded by Chris Wright and his diligent team, “Bright Future Loans, LTD,” has a long history behind the teammates’ close friendship. Years ago, we’d already established a ‘rough’ idea that later on has become the engine behind LoanTech’s system. We’ve been spending years on credit mediation research and recruiting minds, which we believe are essential in order to offer such outstanding loan plan.
As far as being an online investment platform is concerned, LoanTech uses some interesting terminology — perhaps because they are in the loan business. The online investor makes a “loan” to LoanTech rather making an investment with them; I suppose that it amounts to the same thing. Then, LoanTech pays interest to you on your “loan” to them. However, to be consistent with other HYIPs, I will refer to this as the LoanTech investment plan.
The investment plan has a number of interesting features. First of all, it is a “perpetual” investment plan, which means that you make an investment once and that you will receive an interest return forever. Second, the plan has an option whereby you can withdraw up to 34% of your investment after 22 days. This has the effect of enabling you to break even at that time — significantly more quickly than will happen if you do not utilize this option. Of course, since you’ve withdrawn a third of your principal, your daily interest return will be cut by one third at that time — although it still will continue forever. I have not seen this option before in any other investment plan.
The investment plan can be confusing at first reading and, when we review the LoanTech program, we’ll go over exactly how it works in great detail. We will then discuss the pros and cons of the investment plan and, finally, do our best to come to some conclusions that will be of use to the online investor. Please stand by. Our review will be ready in a day of two.
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