Great idea, but it's too early. The average person isn't going to want to borrow crypto, but cash, so they'll just use Paypal.
In 2020+, however, this product will have some customers.
This is a project for lending cryptocurrency, a service that will be in great demand in 2018, there are already some players, nimfamoney, salt, regal, and now Elix, so the market will chose the one that meet their need the most, and once cryptocurrencies are mainstream, this service will be used even more, Paypal doesn't reward you for paying a loan, Elix does.