SwanLuv drops wedding loan concept, leaving many unhappy couples

Startup SwanLuv made headlines in 2015 by offering up to $10,000 per couple for a dream wedding, but there was one big catch.

As long as the couple married and stayed together, the money did not have to be paid back. But if the couple divorced, the money would have to be paid back, with interest.

The business model depended upon a certain number of couples divorcing, along with selling ad space on its website.

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It turned out that there was so much interest in SwanLuv’s offer that it made the company’s proposed business model not feasible.

The original concept was supposed to launch Feb. 15, but instead, a new crowdsourcing concept has been launched. The company will help couples set up a crowdfunding campaign. If the couple divorces, the couple is responsible for paying back those who donated to their campaign.

Not everyone was happy with the switch in business models. Those who had originally applied took to the company’s Facebook page to complain.

We are live! We appreciate everyone's patience! Big News Update: Based on the overwhelming interest in SwanLuv's...

Posted by SwanLuv on Monday, February 15, 2016

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