New here? You may want to subscribe to the RSS feed or browse the site map. Thanks!Update: Advice for new P2P Lenders has now been posted.
Some guests stopped by my house tonight so I have not had time to compile all the great advice that I have received so far based on my […]
I recieved my informational email from Zopa announcing that they are in the testing phase. Zopa is promising to be different than the existing Person to Person lending sites such as Prosper.com and Lending Club in some interesting ways:
No risk for investors.
Your funds will be federally insured. No more worrying about whether your borrowers […]
Richard Branson, the master of promotion, launched Virgin Money in the United States with much fanfare as expected and wearking a “Go Fund Yourself” T-Shirt. CNN honored Sir Richard with a photo gallery, a news article, and a video. As the WSJ recently mentioned, Virgin Money was originally Circle Lending. I […]
Update 12/3/2007: Advice for new P2P Lenders has now been posted.
If my account is funded this week, I hope to lend money for the first time using a P2P lending service by Friday. Since I will be selecting my first loans, I am requesting some advice based on readers’ P2P lending experiences. […]
Elaine Appleton Grant at the Boston Globe writes about P2P lending in her article “Lending to relatives? Read this.“ Elaine starts the article out with a catchy and sympathetic (at lest for lenders) story of a brother who did not bother to pay a sister $500 for a used car sold on credit. In short, […]
Lending Club announced lots of goodness on their blog this morning. Overall, the updates sound positive. I have grouped the updates together and summarized them below:
Affiliate program: The first item of interest to me is the affiliate program was formally announced that I had previously mentioned. The deal is $25 for the affiliate and […]
Although not yet formally announced, Lending Club now has an affiliate referral program. Rex Dixon, Director of Social Media Content at Lending Club, has confirmed it in the P2PNoBank Forums. I believe the deal is the same as Prosper’s referral program — $25 for both referrer and the new person who signs up […]
I decided to sign up with Prosper at the same time I am waiting for my Lending Club account to be tied to my checking account. Interestingly, Prosper allowed me to select my collections agency. The sign up process gave a choice of two companies Penncro and Fristsource and listed their collections statistics which I […]
As I browsed Prosper loans, I was surprised at the number of community members who would like to use their good credit score to borrow money in order to reinvest the money in other P2P loans. This is called leverage and by definition it does increase risk. Is it a strategy that is likely […]
After doing a little tire kicking, I decided to sign up with Lending Club first. I have entered all the prerequisite data including the bank account number. The initial sign up was quick and required basics such as social security number to reduce fraud and because they will send a 1099 at the end […]
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