Startup Able Offers Low-Interest Loans, But Only If Your Friends Have Your Back

By: Matthew Zeitlin

Evan Baehr and Will Davis got a second chance from their investors.

After the entrepreneur’s doomed digital mail app Outbox was shut down in 2014thanks to spiraling marketing costs and the opposition of the U.S. Postal Service, the two Austin-based, Harvard Business School-educated founders went back to their investors and offered to give back the money they still had left over. Their response: “Just keep building,” Davis told BuzzFeed News.

Baehr’s and Davis’ new product, called Able, has nothing to do with Outbox (a short-lived service that digitized users’ snail mail and emailed it to them), and starting Tuesday it will be available in most of the country…read more.