[benfrankly]

do you genuinely think you're going to be able to reap daily payments from your customers? it's not going to happen.

you're going to run into a number of problems, a few of them already outlined in this thread. one significant issue that you're going to run into is that you'll be subservient to your clientele. someone doesn't pay their daily rate? you can't just start putting them in the hospital, you're going to have to be more diplomatic. that is to say, you're going to have to no recourse other than asking politely that they pay, as "muscling" for your payment isn't likely to get you paid the full amount you're owed based on the arrangement.

as far as your latest idea for scaling the interest rate based on the length of the loan... you have no recourse for your payment, so why scale it? you'd have to find some way to induce the borrower to pay you back... and i just can't think of anything that will achieve that for you. banks don't give money to people they haven't done business with when said bank won't have access to assets that they can turn into liquid in the event that the borrower defaults; you really shouldn't be loaning money out in AL based on this idea alone.

at the end of the day though, you're just not going to see enough action to merit any of the hassles inherent to the practice of loaning. you'd honestly better serve your time clicking on advertisements or filling out surveys for 2 cents each and converting that $10 a month into credits. you'd make a shitload more AL cash and you'd spend about the same amount of time doing something qualitatively fruitless.