The original Borrow a Dollar idea come from using a pool of money collected from a large number of individuals to “invest” until the interest was equal to one million dollars. Then the borrowed money would be returned leaving only the one million dollars for my own use. The investment was going to something safe like a savings or money market account. The main focus of the plan wasn’t in getting great returns but in having a large number of people that let you borrow some money.

Was Borrow a Dollar a failure? For me, yes, but I think someone else who can do better marketing could produce better results. The main failure was being unable to recruit enough people to make the system work. There is very little incentive to get people to participate and some suspicions about sending money online to a scheme.

Here you can see the original Borrow a Dollar website.

Here were some information that were given to potential “investors”:

1. What is Borrow a Dollar?
A new Sharing Revolution that allows people to share money. This is used to make a million dollars by just borrowing “unused” money from regular people like yourself. Just like a social network, you are just sharing your money.

2. How does Borrow a Dollar work?
For example, you will let me borrow $100 for 30 days. You will click on the button at the bottom of this page and send me the $100. I will borrow your $100 and place it in a high yield savings account. At the end of the 30 days, I will give you back your $100. After I return your $100, I will be left with the interest of about 42 cents. Multiply that amount by the thousands of people that also let me borrow their money, and over a short amount of time, I will have accumulated a large amount of money. As an added bonus, I will also be making interest off the interest that I have accumulated. So you can see how I can make $1,000,000 by just borrowing.

Borrow a Dollar

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