In the current economic climate, person-to-person (P2P) lending has become rather popular. It provides alternatives for both borrowers and investors who are looking for ways to meet their financial goals. What is P2P Lending? These services provide a way for ordinary people to loan money to other regular folks. In most cases, it’s done through an intermediary. Two of the main P2P lending web sites are Lending Club and Prosper. These sites facilitate the loans, which are funded in small increments of $25. Because each note is only $25, nearly anyone can afford to be a lender. And, because the amounts are small, borrowers can take advantage of thousands of potential lenders and raise money they might not otherwise qualify for. P2P lending … [Read more...]
