Peer to Peer Lending
Looking for a viable alternative to traditional loans? You’ve found it! Peer to peer lending is a growing frontier in borrowing money that eliminates the need for financial institutions by creating a direct connection between individual lenders and borrowers. These personal loans are easy to secure – and to repay.
Within the marketplace of peer to peer loans we’ve found two front-runners with the absolute best platforms and services to meet your financial needs: Prosper and Lending Club. (See reviews below)
How Peer to Peer Lending Works:
- Borrowers select an amount and purpose for their loan and submit a listing on a P2P platform.
- Lenders then review the new submissions and invest in loans that meet their specifications.
- Once complete, borrowers receive the funds and make monthly payments to repay the lenders.
Prosper Loans
Prosper is the largest peer-to-peer lending marketplace in the world. With Prosper, borrowers can request loans up to $25,000, and lenders can invest as little as $25 in each loan listing, creating a community that is both financially and socially rewarding. Start today!
Lending Club
Lending Club is an online financial community that unites trustworthy borrowers and qualified investors so that everyone benefits. Signing up is free and quick, and Lending Club has funded over 500 million dollars in loans since launching in 2007. Learn about their offering below.
Top P2P Lending Benefits
- Flexible loan options
- Easy application process
- Cheaper borrowing costs (low rates)
- Quicker approval time
- Avoid banks (no more middle man)
- Streamlined repayment methods
- Peace of mind (money in hand)
Looking to Borrow Money Fast? Explore Payday Loans!
Need money, quick? Payday loans are the absolute fastest way to secure a short-term cash loan to help you cover your needs between now and the next paycheck. These handy financial vehicles really save the day if you find yourself in a tight spot — see our reviews of the most trustworthy providers here.