Person to Person Lending - P2P Personal Micro Lending Review
UPDATE: New site exposes peer lending and tells you weather it is worth your time.
Person to Person loans are starting to gain popularity. They are based on the micro lending concept. In a nutshell this is a way for people to get a loan who normally would not qualify to get a loan by a bank, or could never get a decent rate. At the same time the people giving out the loan can earn good return on investment. This type of loan is perfect for entrepreneurs or people who simply need a little more cash to jump start their lives and get things back in order.
If you are looking for private micro financing loan, below you will find some person to person p2p loan sites to see which one might be good for you.
MicroPlace.com - An Ebay Company here is their mission statement MicroPlace’s mission is to help alleviate global poverty by enabling everyday people to make investments in the world’s working poor. Microfinance institutions around the world have discovered an effective way to help the world’s working poor lift themselves out of poverty. These organizations need capital to expand and reach more of the working poor. At the same time, millions of everyday people here in the United States are looking for ways to make investments that yield a financial return while making a positive impact on the world. MicroPlace simply connects investors with microfinance institutions looking for funds.
Kiva - Similarly Kiva is another organization aimed at helping the worlds poor through Micro lending. Kiva is the world’s first person-to-person micro-lending website, empowering individuals to lend directly to unique entrepreneurs in the developing world.
Prosper - One of the first sites to take this concept and not focus on the worlds poor but instead help people right here. Prosper is America’s largest people-to-people lending marketplace. Connecting people to people eliminates the need for borrowers to go through a bank for a loan—and fewer middlemen means Prosper lenders also benefit. Their system differs slightly since it is based on a bidding type of system.
Loanio From the horses mouth…. Loanio is an auction based, peer lending platform where individuals can borrow or lend money to each other. By cutting out “traditional lenders,” and adding an auction based element, borrowers can get lower rates and lenders can get higher returns than other banking options. Tell you the truth haven’t checked these guys out enough, but I can tell you where they got their stock photos from lol.
The Best Peer 2 Peer Lending Site
LendingClub.com - So whats different about these guys? They seem to be more focused on community then the rest of the guys. Here is an excerpt from them. Lending Club is a social lending network where members lend and borrow money from each other at better rates, bypassing the banks.
In these economic times, this is the best alternative to pull yourself out of any debt you may have accrued, or get the needed money to grow your business.
