Virtuous cycle

Bartlomiej Owczarek weblog

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Now Provident accuses social lending sites of unfair competition

See article in Gazeta Prawna. Provident, provider of home-delivered and rather pricey cash loans, accuses Monetto, a social lending startup, of unfair comparison of interest rates on its loans.

If Provident’s goal was to give social lending additional publicity, then it greatly succeeded. Average reader will remember from the article that you can get cheap loans on the Internet and that Provident is expensive and therefore afraid of social lending sites.

Fortunately for Provident, Gazeta Prawna is probably read by a tiny percentage of their target customer base.