Peer-to-Peer Lending
Peer to Peer Lending Scam: Are P2P Lending Sites a Scam?
If you have ever considered taking a loan out from a peer to peer lending site, you might be concerned whether or not peer to peer lending companies are a scam. There have been a number of financial innovations which have turned out to be scams. A number of companies that offer loans online have [...]
Lending Club Corp: The Company behind the Peer to Peer Lending Trend
Lending Club Corp. was at first the second-to-market peer to peer lending company after Prosper.com, but has since overshadowed its competitor and become the dominant player in the peer to peer lending space. The company was founded in 2006 and is headquartered in Redwood City, California. The company’s current chief executive officer is Renauld Laplance. [...]
Lending Club Appoints New CFO from Charles Schwab (NASDAQ: SCHW)
Lending Club, a company which operates a peer to peer lending marketplace, has appointed former Charles Schwab (NASDAQ: SCHW) executive Carrie Dolan as its new chief financial officer. “We have assembled an executive team of innovators who are passionate about transforming industries, and Carrie is an ideal fit. Her financial experience at a leading financial [...]
Lending Club: What Types of Loans Are Available to Borrowers
If you’re hoping to get an unsecured loan or a personal loan, Lending Club might be a great way to get a better interest rate than what you would have gotten from a bank. Many have also used Lending Club loans as consolidation loans to get a better interest rate on their debt than what [...]
How to Get Started investing with Lending Club
Lending Club is the largest peer to peer lending company in the United States in terms of new loan origination on a monthly basis. Many investors have turned to Lending Club as a way to invest without putting money into stocks or bonds. It’s still very much an alternative investment and there is some risk [...]
Comparing Apples and Oranges: Peer to Peer Lending and Savings Accounts.
Banks such as ING Direct and FNBO direct which were previously considered to be “high yield” savings accounts are now offering FDIC insured savings accounts at interest rates of barely 1%. Savvy consumers that shop around might be able to find rates closer to 2%, but it’s a far cry from the 5% rates that [...]
Lending Club Partners with Mint.com to Help Users Create and Meet Financial Goals
Mint.com has partnered with Lending Club, a popular peer to peer lending website, in its newly launched “Goals” feature which helps users of Mint to get out of debt and set other life goals. Mint hopes that its partnership with Lending Club will help its users get out of credit card debt sooner and pay [...]
How to Get Peer to Peer Loan to Pay for College
As the availability of credit tightens, many banks are limiting or eliminating the private student loans that they offer, making it difficult for students that have exhausted their financial aid to receive gap funding for their education. Fortunately, a number of peer to peer lending websites have filled in the gap and are providing a [...]
Vittana Streamlines Microfinance Service
Vittana, a non-profit micro-finance lending service which provides education funding, is now enabling lenders to re-lend directly. Lenders on the service now no longer need to go through PayPal directly for each payment and re-payment. CEO Kushal Chakrabarti said no June 12th, “Today, I have the honor of announcing that, as of last week, Vittana [...]
How to Get a Personal Loan
Personal loans are a necessary evil sometimes. They provide needed funds to cover an unexpected expense, provide the ability to consolidate debt and help you make major purchases. If used improperly they can put you into a world of hurt. If you have a decent credit score, you have a number of options to take [...]
CBS Money Watch Highlights Peer to Peer Lending Industry
CBS’ Money Watch’s Farnoosh Torabi recently commented on the peer to peer lending industry in her “You’re So Money” column last week. Torabi initially started out as a skeptic of Lending Club and Prosper Marketplace, writing, “I’ve been writing about peer-to-peer lending for quite some time and I admit I’ve always been a bit skeptical. [...]
Lending Club Offering Investment Bonus Through July 5th
Lending Club, a company which offers a peer to peer lending service, is offering investors a bonus of up to $300 for investors that add funds into their account by July 5th. In an email sent to investors, Lending Club wrote “You can receive up to a $300 Cash Bonus on newly load funds you [...]
Prosper Hopes for Re-Regulation of Peer to Peer Lending Industry
Prosper Marketplace CEO Chris Larsen told Business Week that he hopes Congress will re-regulate the peer-to-peer lending industry so that his company will be regulated by another body than the Securities and Exchange Commission. In 2008, the Securities and Exchange commission came down on Prosper and its competitor Lending Club saying that the two companies [...]
Lending Club Passes $10 Million in Loan Originations During May 2010
Lending Club, a company which operates a peer to peer lending website, said that it passed more than $10 million in monthly loan findings during May 2010, marking the first time that any U.S. based peer to peer lending company has funded that amount of loans in a single month. “Customers are getting back on [...]
Lending Club Announces Photo Contest Finalists
Lending Club, a company which operates a peer to peer lending website, has announced the finalist for a photo contest that it is running to find background images for its new Bing-like website. Lending Club has posted the finalist images on its Facebook Fan page for public consumption. Lending Club first announced the contest in [...]
Prosper Marketplace Reverses Decision on Loan Application Process
Prosper.com, which runs a peer to peer lending website called Prosper Marketplace, reversed an earlier decision in which it had no longer required borrowers to state why they wanted to take out a loan as part of the application process. The peer to peer lending company previously decided that it would no longer ask borrowers [...]
Lending Club Passes 10 Million in Monthly Loan Origination, Hires New CMO
Lending Club, a company which operates a peer to peer lending marketplace, issued a press release this morning announcing that it had passed more than $10 million in monthly loan originations during May 2010. The company said that this is the first time that any peer-to-peer lending in the United States has funded that amount [...]
Using Lending Club’s Note Trading Platform to Invest in Peer to Peer Loans
Lending Club, a website which allows its members to loan each other money through 3 or 5 year unsecured loans, currently only operates in certain states ,but other investors can buy existing loans through its note trading platform which is powered by Foliofn. Lenders can purchase notes if they reside in any of the following [...]
Prosper Marketplace Resolves Some Issues Related to Loan Service Platform Migration
Prosper.com, a company which operates a peer to peer lending marketplace, went through a migration to a new loan servicing platform in early May, leaving many users of the website frustrated by errors that impacted features on Prosper’s website and customer’s accounts. The company apologized on its blog for the mistakes, saying, “What should have [...]
How to Get the Lowest Interest Rate When Borrowing from Prosper.com
Prosper.com, a company which offers a peer to peer lending marketplace, allows borrowers to take out unsecured loans from other members of the website using a reverse Dutch auction. As a borrower, you post how much money you want to borrow and the maximum interest rate you are willing to borrow at. From there, other [...]
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Great post but complicated to understand since I am from Faroe islands ;-) 
What would be your top three tips for anyone new to this topic?