New Company Will Pay For Your Wedding, You Only Pay It Back If You Get Divorced
Ask any couple if their marriage will last forever, and they'll tell you "Of course!" How many would be willing to bet big money on that? There's a crazy new startup that's going to find out.
A company in Seattle called SwanLuv will give you a loan up to $10,000 for your wedding. You don't have to pay it back unless you get divorced. Then you owe them the money, plus interest.
The CEO of SwanLuv says they ran the numbers, and they can be profitable with this model. "It comes back to statistics. We have the right odds so we'll be okay." He thinks the the odds aren't too crazy, so people will still bite.
When you apply, they'll evaluate how strong a couple you are. Then they base the amount of the loan and your interest rate off that. There will also be clauses, like if the marriage ends because of abuse, the abuser has to pay the full amount.
If you're interested, you can pre-register at SwanLuv.com. They'll officially start giving out loans in March.