If it won't work then, yes, we will remove the no collateral section. However, there may be a way to make it work. I'm not talking about huge amounts. Of course collateral is needed for thousands of dollars. For example, when a person takes out a loan to buy a car, the car itself serves as collateral, since it's repossessed if payments stop. But for much smaller amounts, say always under $1,000, perhaps there is a way to have people prove trustworthiness.

So, for example, I'm thinking a credit score which people work to build. Say a user takes out a loan for just $5. There very little risk of default, right? Once that is paid back then maybe a higher loan of $10 is approved. A user then works to build up their credit by proving a track record of repayment, which allows them to receive higher amounts. I feel many users after working hard to build up a credit rating would rather repay than risk losing it. Sure there will be some defaults, but it shouldn't be the majority.