First connection introduced by ALAP between a lender and borrower
The first connection between a lender and borrower who were introduced at an ALAP potluck meeting has happened.
On December 8th ALAP meeting held at the Michigan Land Use Institute offices Odom RE-USE Co. requested one or more small loans, for one year, paying 5% interest quarterly.
The next day, one of the attendees to the meeting called me to express a desire to loan up to the maximum dollar amount we were seeking, and after some consideration, offered to take all their interest payments in Bay Bucks.
The dollar amounts are not large – 2 promissory notes of $5,000 each. But the wheels are turning! And incorporating local currency into the deal makes it all the better.