The difference between borrowing and renting

I've been loaning out a lot of my own stuff lately through Loanables, and I really enjoy meeting and chatting with the Borrowers. I had a great experience today that I wanted to share.

On Monday, a very nice guy named Chris requested to borrow my ladder. He was putting his house on the market 2 days later and just needed to hang some shutters, so he only needed a ladder for a day. He picked it up yesterday. The price was $8 for the day.

Tonight, he was a couple hours late returning it because his A/C died and he had to deal with that crisis. When he returned the ladder, he shoved an extra $10 into my hand and wouldn't let me give it back, then proceeded to thank me profusely for letting him use the ladder. Wow. Just for grins, I checked the rental prices at a local "Depot" store. $26/day for a comparable ladder. If he had been late returning it there, guess what? They would have charged him another $26. Instead of being forced to pay an extra $26, he gladly gave me an extra $10. That's the difference between borrowing and renting, folks.

Just for being such a great Borrower, I've credited his account with $10 in rental credit. And I was glad to do it.

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Anyone need a horse?

When one of our members posted a horse a few weeks ago, we got a big chuckle out of it. I mean, I can understand renting out an air compressor, or a tile saw, or a chafing dish. But a horse?? Well I'm happy to announce that this horse has found a borrower! There's a girl out there who has been taking riding lessons for several years and now will have the chance to ride a lot this summer, thanks to the Loanables community. At $75 a month, you can't afford NOT to rent a horse!

It just goes to show how valuable our infrequently-used treasures are to those who need them ... even the ones the need to be fed!

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B Corporation: serving more than just shareholders

Yesterday we applied to become a B Corporation. This is a new type of corporate entity whose mission is to create benefit not just for shareholders, but for the community, environment, employees ... the stakeholders. A traditional Corporation has a legal mandate to maximize shareholder return, which often comes at the expense of these stakeholders. B Corporations are a new community of companies that seek to be good stewards of our natural and human resources, while still providing a return to their shareholders.

We at Loanables were excited to learn about the B Corporation movement, because it is exactly in line with the company we want to build. We believe that companies have a duty to serve their communities and employees, not just their shareholders. By being explicit about this, B Corporations will attract like-minded shareholders who are willing to allow social & environmental benefit to play into corporate decisions. Thus it becomes not a conflict of interest, but rather an expression of interest.

Would you invest in a B Corporation?

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