P2P Lending
A new way of borrowing and lending is staring to catch on- peer-to-peer (P2P) lending. Regular people pool their money together to loan money to fund loan requests. Anyone can be a lender, and anyone can be a borrower.
I think P2P lending (also known as Social Lending) is a fantastic idea. With several sites that have popped up recently around this concept, the idea is catching on. My main experiences with P2P lending are with Prosper.com, and I have found it to be an excellent experience.
Prosper.com
P2P Lending where lenders compete to bid on the interest rate for your loan. It's a very well-designed, well-structured system with a lot of built-in protections for making sure things go smoothly.
CircleLending.com
A way to borrow from your family and friends. They have a lot of different loan types available.
Zopa.com
P2P Lending. The rates are set by Zopa, unlike Prosper.com which lets the market decide.
See Also:
Prosper Lending
More articles from TopicPoint.com on lending and borrowing on Prosper.
Social Lending: The Next Web 2.0 Phenomenon
A review of Zopa and Proser, and some thoughts on the social lending phenomenon.
My Prosper Borrowing Experiences
One of my borrowers on Prosper.com has written her experiences borrowing using Prosper.
Prosper.com: A 6-month Review
A critique of Prosper from InvestorGeeks.