I discovered that I have some borrowing capacity at low rates based on an investment account that I have, and so I'd like to draw down that money and loan money to start-ups and other companies that don't/can't get traditional institutional financing.
I'd like to offer bridge loans, for fixed periods, that are repayable in cash--NOT convertible into equity, since I have to pay back any drawdowns myself in set periods of time.
Are there networks of investors, primarily in NYC, who do this? How much interest from borrowers would there be in this? I'm thinking interest rates of 10-15%, given the risk.
It is unlikely that you will find people willing to take your money - and if you do they are very poor risks.
What looks like a simple, good idea and way to help startups is really not worth your time/money.