This New Startup Will Fund Your Dream Wedding, but There’s a Catch
Everyone knows that the cost of throwing a wedding can quickly spiral out of control. From the venue to the dress to the flowers to the caterers, there is nothing cheap about planning a celebration of love in the form of a ceremony and reception! However a new Seattle-based startup, SwanLuv, hopes to help some couples bear the burden of wedding costs by giving them up to $10,000. If you’re planning a wedding and think your relationship will last forever, you can sign up now for a loan on SwanLuv’s website. It sounds too good to be true, right? Well, that’s because there is a catch: If you someday get a divorce, you have to pay SwanLuv back the original amount, plus interest.
SwanLuv CEO Scott Avy told GeekWire that the website is like a casino for marriages. “It gives a couple a chance to gamble on themselves,” Avy said. “I’m betting on my relationship that I’ve established with my soulmate.” The startup will have other stipulations in the contracts, like if the marriage ends in abuse, the abuser will be required to pay back the debt. They will also offer free couples therapy to assist couples to beat the divorce odds. However, it is a startup, and that means it hopes to be profitable one day. Avy isn’t worried. “It comes back to statistics,” he said. “We’ll have the right odds, so we’ll be okay.” It may take a couple of years before the company sees returns, but eventually couples will break up and SwanLuv will become profitable.
If you’re just starting to plan your wedding, invest in a planner and organizer. I love this one by Mindy Weiss.
What do you think of a company that makes money off of failed relationships? Would you sign up?