Peer to Peer lending is one individual loaning money to another. By cutting out the bank or credit card company as the middleman, borrowers are hoping to get a lower interest rate. Investors are hoping to earn a higher rate of interest than they can earn in other similar investments. In the United States, there are two primary companies that facilitate peer-to-peer loans: Lending Club and Prosper.
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1) Prosper- Prosper is the oldest of the peer-to-peer lending sites in the United States. From the homepage, you can find information on applying for a loan or investing in loans.
2) Lending Club – In terms of size, Lending Club is larger than its major competitor. However, the services offered are very similar.
3) P2P Lending News – This peer to peer lending site reports on all activity in the P2P marketplace including microfinance charity Kiva and smaller P2P lenders specializing in family and friend loans.
4) Lend Academy – Great education site teaching you everything you need to know about investing in p2p Loans.
5) Learn Bonds – Best for covering peer to peer lending site from a retail investor standpoint in our somewhat biased opinion!
This lesson is part of our Free Guide to Investing in Peer to Peer Loans.
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