If you've ever lent money to a friend or family member and never seen that cash again - a new app could turn that situation around.

A former banker turned Hawke’s Bay farmer has created a peer-to-peer lending app designed to simplify and formalise loan agreements between peers or friends, and it's believed to be the first of its kind in New Zealand.

Amico creator Tom Aitken says this service is legally enforceable - and is designed to clear up ambiguities around small-scale lending.

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