i am providing paypal invoice with any terms and conditions you want to put in it ... this invoice will surely help you if i didn't pay you back and you can file a dispute or chargeback..
With no collateral you will not get this loan.
As i know collateral is for recovering money incase person fails to payback..
In my case i am providing paypal invoice with written terms which is equal to collateral ..you can file a dispute and win with the help of invoice ... there is no way to scam lender with paypal invoice .. i will return your loan in two instalments every 5th day.Please think about it i can pay upto 20% interest,