Planning your dream wedding isn’t cheap. Hell, planning even a super-modest wedding isn’t cheap.
While it’s entirely possible to pay for everything on your own, it would definitely be nice to get a little extra monetary boost. That’s where SwanLuv comes in.
The new tech startup promises to pay up to $10,000 for couples who apply via their soon-to-be-launched service. Here’s how it works: You fill out an application and the brains behind the service judge your ability to stay in wedded bliss for the long haul using algorithms and statistics. From there, you’ll get a check for up to $10K to use freely for your wedding.
But, like with any loan, there’s a big, big catch: You’ll have to pay back every cent, plus interest, if the marriage ends in divorce.
SwanLuv CEO Scott Avy likens the service to a casino where they “roll the dice” toward the future of their relationship. If they don’t want to get the loan, then couples should ask themselves: “Should we be getting married if we’re not willing to sign up?” Avy told GeekWire.
“It really depends on where you are in your relationship,” Avy said. “I”m betting on my relationship I’ve established with my soulmate. It’s going to be a no-brainer for the ones it makes sense for.”
The contract also stipulates that one person will be responsible for the entire debt if the marriage ends because of domestic abuse. Avy also said they’re looking at ways to provide free marriage counseling to couples to keep them from divorce and loan repayment.
SwanLuv is currently finalizing funding and plans to start approving loans to couples in February. He says he expects it to be quite profitable, though he emphasizes that people make ultimate decisions about the loans and whether or not they have to pay them back.