We just launched our landing page http://bitline.world/

We're building Bitcoin-backed credit lines (undercollateralized loans)

Problem Current Bitcoin-backed loan solutions are relying on overcollateralization e.g. 50% loan-to-value.

Solution We're building 99% loan-to-value loans that act as credit line for Bitcoiners. We take-on tremendous risk but plan to charge 1-3% per month interest to offset. We're also building a credit scoring engine that will pseudonymously keep track of good behavior so they can get better rates and terms.

Wanted to get feedback from fellow Bitcoiners about what we are building. Would you use such product?

I would use it. How will you fund the loans and will there be any restrictions on use of proceeds, or is the product basically like a credit card / unsecured line of credit?