An ex-banker from Hawke's Bay has come up with a simple way of formalising loans between friends and family.
Amico is an app that allows users to set repayment terms, interest rates, and create signed loan agreements.
Founded by Hawke's Bay farmer Tom Aitken, Amico aims to make money lending less awkward and more confident for all parties involved.
It supports loans of up to $1 million, from helping with home deposits to smaller personal expenses, and ensures clear terms are set, protecting both the borrower and lender.
Currently available in New Zealand and Australia, Amico plans to expand to the Northern Hemisphere. Tom tells Kathryn about how he got the idea for Amico.
Photo: Supplied by Amico
